April 11, 2023 08:31 ET | Source: CMI CMI
Burlingame, April 11, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global freeze-drying equipment market is estimated to be valued at US$ 45,313.5 million in 2023 and is expected to exhibit a CAGR of 10.8% during the forecast period (2023-2030). Freeze Dry Machine
Analysts’ Views on Global Freeze-drying Equipment Market:
Global freeze-drying equipment market growth is expected to be driven by increasing product launches by the key market players. For instance, in June 2021, SP Industries, one of the global providers of lyophilizers, drug manufacturing solutions, and laboratory equipment, and others, announced the launch of SP Hull LyoStar 4.0, a R&D freeze-dryer for enhancing the speediness of market in drug development.
Global Freeze-drying Equipment Market- Driver
Increasing prevalence offreeze-drying . For instance, in July 2021, SP Industries, one of the global providers of drug manufacturing solutions, lyophilizers and laboratory equipment, announced that it has doubled the global manufacturing capacity for freeze-dryers to meet increasing demand of the market.
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Global Freeze-drying Equipment Market- Opportunity
Increasing government and non-government organizations initiatives to improve access to affordability of freeze-drying, and rising importance among people regarding lyophilisation freeze-drying are expected to drive the market growth over the forecast period. For instance, in September 2022, an article published by the FEDERAL REGISTER, a Journal of U.S. government, stated that the government is approached to advance biotechnology and biomanufacturing towards innovative solutions in health, climate change, energy, food security, agriculture, supply chain
Global Freeze-drying Equipment Market Cross Sectional Analysis:
Among regions the North America region is dominant over the forecast period, due to increasing demand of freeze-dried food in the market, for instance in Februrary 2018, a article was published in the magazine of Institute of Food Technologists., an international, non-profit scientific society of professionals engaged in food science, food technology, and related areas in academia, government and industry, stated that North America holds the 35% share of the global freeze-drying market
Freeze-drying Equipment Market Report Coverage
Global Freeze-drying Equipment Market- Segmentation
Global freeze-drying equipment market report is segmented into product type, application, and region.
Based on Product Type, the market is segmented into laboratory freeze-drying equipment, benchtop freeze-dryers, mobile freeze-dryers, industrial freeze-dryers, general purpose freeze-dryers, out of which, the industrial freeze-dryer is expected to dominate the global freeze-drying equipment market during the forecast period, owing to increasing usage of industrial freeze-dryer for the storage of food and beverages.
Based on Application, global freeze-drying equipment market is segmented into food processing, pharmaceuticals, and surgical procedures. Out of which, the food processing segment is expected to dominate the global freeze-drying equipment market over the forecast period, owing to increasing frequency of processed food demand ine the market
Based on Region, the global freeze-drying equipment market is segmented into regions, which include North America, Latin America, Europe, Middle East, Asia Pacific and Africa, out of which the North America region is expected to dominate the global freeze-drying equipment market over the forecast period, owing to increase in the usage of freeze-dryer demand and manufacturing in the market
Global Freeze-Drying Equipment Market: Key Developments
In July 2021, SP Industries, Inc., one of the global providers of fill-finish drug manufacturing solutions, lyophilizers, and laboratory equipment, announced that it has expanded its freeze-dryer loader range with the launch of two fully good manufacturing practices (GMP) compliant loading systems that is compatible with SP Hull LyoConstellation freeze dryers.
In January 2023, according to news published by the Digital Journal, a global media platform and content partner, the industrial freeze- dryers segment is expected to hold the market share, which is expected to surpass a volume of 314,000 units by 2025,due to the high standard of quality provided by the industrial-scale freeze-drying equipment. The laboratory freeze- drying equipment segment is estimated to witness the fastest growth rate of around 10.8% during the forecast period.
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Global freeze-drying equipment market is expected to exhibit a CAGR of 10.8% during the forecast period, due to increasing product launches by the key market players. For instance, in May 2021, COOLVACUUM TECHNOLOGIES, SL, a subsidiary company of MAQUINARIA INDUSTRIAL DARA, SL, that provides freeze-dryers, launched a freeze-drying equipment for large-scale freeze-drying in good manufacturing practice (GMP) environment.
Among application, the pharmaceuticals segment is estimated to hold a dominant position in the global freeze-drying equipment market over the forecast period. For instance, in April 2021, COOLVACUUM TECHNOLOGIES, SL, a subsidiary company of MAQUINARIA INDUSTRIAL DARA, SL,that provides freeze-drying equipments, launched a GMP equipment called LyoCool for freeze-drying for medium scale production in the industries.
Key players operating in the global freeze-drying equipment market include, Cuddon Engineering Ltd., Freezedry Specialties, Inc., GEA Group, IMA Life The Netherlands B.V., Labconco Corporation, SP Industries, Inc., Telstar, Thermo Fisher Scientific Inc., MechaTech Systems Ltd., Millrock Technology Inc., Zirbus Technology GmbH, Biopharma Process Systems Ltd., LTE Scientific Ltd., Martin Christ GmbH, Shanghai Tofflon Science and Technology Co., Ltd., and MAQUINARIA INDUSTRIAL DARA, SL, and other prominent players
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