Market Challenges And Opportunities

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.

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.