FREEZE-DRYING EQUIPMENT MARKET ANALYSIS

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).

Analysts’ Views on Global Freeze-drying Equipment Market:

Increasing  product development by the key market players is expected to drive lobal freeze-drying equipment market growth. For instance, in June 2022, Telstar, a machinery industry, launched a  temperature wire less sensor that is capable of monitoring advance  sublimation front in real- time in good manufacturing practices (GMP) of freeze-drying.

Figure 1. Global Freeze-drying Equipment Market Share (%), By Product Type, 2023

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Global Freeze-drying Equipment Market- Drivers

Increasing growth strategies for launch by the key market players

Key market players are adopting growth strategies such as joint agreement, and this is expected to drive the market growth over the forecast period. For instance, in October 2021, Air Products, one of the global manufacturer of industrial gases and cryogenic technology, and Sublime Stericeuticals Corporation, a process design and equipment manufacturer, aanounced the joint agreement to develop a continuous freeze-drying equipment for vaccine and pharmaceutical industries.

Increasing growth strategies such as research and development activities by the key market players are expected to drive the global freeze-drying equipment market over the forecast period, for instance, in February 2023, COOLVACUUM TECHNOLOGIES, SL, a freeze-drying provider and MAQUINARIA INDUSTRIAL DARA, SL, a pharmaceutical manufacturing company, developed the line to produce vaccines, with the help of Center to the Development of Industrial Technology (CDTI) and the European Regional Development Fund (ERDF), in terms of getting funds from the mentioned organizations.

Figure 2. Global Freeze-drying Equipment Market Share (%), By Region, 2023

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Global Freeze-drying Equipment Market- Regional Analysis

Among all region, North America is expected to dominate the global market over the forecast period, owing to North America 34.8% market share and increasing collaboration by the key market players in this region. For instance, in July 2022, NJM, in collaboration with MAQUINARIA INDUSTRIAL DARA, SL, launched Dara coolvaccum freeze-drying equipment embedded with a range of lyophilization solutions that is suitable for research and development laboratories.

Europe region is expected to be second dominating region over the forecast period, due to increasing launch of new vaccines by the key players operating in Europe, is consequently rising the demand for the freeze-drying equipment in European region, which is expected to grow the global freeze-drying equipment market over the forecast period, for instance, in August 2022, ZeptoMetrix, LLC, a company that provides cost-effective Diagnostic Microbiology products and services, launches Recombinant Monkeypox Virus Stock, hence the launch of monkeypox vaccine is rising the need for the freeze-drying equipment in the market.

Global Freeze-drying Equipment Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization has declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand for Equipments and Instruments, and by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nation wide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others faced problems regarding transportation of surgical and freeze-drying equipments from one place to another.

In 2020, as mentioned in the official website of Biopharma Process Systems Ltd, a freeze-drying and bioprocessing supplier and provider, stated that focus of the scientific world, from research and development (R&D) to full scale manufacture, shifted toward the discovery and implementation of solutions to tackle the COVID-19 pandemic. COVID 19 has placed a greater emphasis on the process of freeze-drying,  demand for the freeze-dryer increased from the pharmaceutical companies due to the pandemic. 

Global Freeze-drying Equipment Market- Segmentation

Global freeze-drying equipment market 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, and general purpose freeze-dryers. Out of which, the the industrial freeze-dryer is expected to dominate the global market during the forecast period, owing to increasing  usage of freeze-dryers.   

Based on Application, the market is segmented into food processing, pharmaceuticals, and surgical procedures and Biotechnology, Others (including Leather Conversion, Flower Preservations). Out of which, the food processing and pharmaceuticals segment are expected to dominate the market over the forecast period, owing to increasing pharmaceuticals and food industries.

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 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

For instance,  in February 2022, food maker Pol's handed GEA Group Aktiengesellschaft  its 3rd contract to install and RAY freeze- drying equipment at the firm's of 4,000 m² vegetable & fruit freeze- drying factory in Ermenek, Turkey. This will increase the  manufacturing of freeze-drying from 200 tonnes to 300 tonnes annually.        

In November 2021, Telstar, a machinery industry, launches Usifroid global service platform for retrofitting & maintenance of freeze-dryers, To optimise and extend the life cycle of freeze-drying equipment.

Global Freeze-drying Equipment Market: Restraint

The major factors that can hamper the growth of the global freeze-drying equipment market over the forecast period include high cost of the equipment and different alternatives spray dryers etc, that are present in the market. Pharmaceutical and Biotechnological industries are shifting towards another alternatives for low maintenance of the equipments, for instance, in November 2020, a article was published in the ResearchGate GmbH., a European commercial social networking site for scientists and researchers, stated that Freeze-drying considered an extremely expensive procedure to dehydrate food or pharmaceutical products the main cost of the process is not the utilization of the freeze-dryer, but the initial investment.

Global Freeze-drying Equipment Market: Key Players 

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., OPERON, and MAQUINARIA INDUSTRIAL DARA, SL and other prominent players.

Definition: Freeze- drying is a process of dehydrating of subtances at low temperatures. Materials are kept at a negative temperature during the procedure. As a result, freeze drying has less impact on the original features of the product that preserves the biological activity, vitamins, flavor, taste, and appearance of the product in food industries.