Freeze-drying Equipment Market Poised to Expand Owing to Rising Demand from Pharmaceutical Industry
Freeze-drying equipment are used for drying heat-labile materials, such as pharmaceuticals and foodstuffs, by removing water from the materials at very low temperatures and pressures. Freeze-drying helps extend the shelf life of heat-sensitive food items and drugs. With growing demand for foods with extended shelf life and complex biologics requiring cold chain management, the need for freeze-drying equipment has increased in the pharmaceutical and food industries.
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).
Key Takeaways
The Freeze-drying Equipment Companies are GEA Group, Azbil Telstar, SP Industries, Labconco, and Aseptic Technologies.
Rising biologics production and dietary supplements industry offer tremendous opportunities for equipment manufacturers to tap new regional markets and expand their product portfolio.Freeze-drying equipment providers are focusing on geographical expansion into emerging Asian and Latin American countries.
Patent expirations of blockbuster biologics have created affordable biosimilars opportunity for biopharmaceutical companies, driving demand for large-scale lyophilization equipment and contract manufacturing organizations.
Market Drivers
Increased pharmaceutical R&D investments and new product launches, especially for complex biologics, drive the demand for Freeze-drying Equipment Market Trend in the pharmaceutical industry. Modern freeze dryers with enhanced process control and monitoring capabilities allow high product yields.
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