Lyophilization Equipment Market Size By Product (Tray Style Freeze Dryers, Manifold Freeze Dryers, Rotary Freeze Dryers), By Scale of Operation (Bench Top, Pilot Scale, Industrial Scale), By Application (Pharmaceutical, Biotechnology, Biomedical, Food Pro

Lyophilization Equipment Market Size By Product (Tray Style Freeze Dryers, Manifold Freeze Dryers, Rotary Freeze Dryers), By Scale of Operation (Bench Top, Pilot Scale, Industrial Scale), By Application (Pharmaceutical, Biotechnology, Biomedical, Food Processing), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030

The lyophilization equipment market is foreseen to amass substantial gains by 2030 owing to mounting utilization of the technique in varied industry verticals. In addition, consistent efforts for advancing lyophilizers to cater to the rising demand from the expanding pharmaceutical industry, along with the need for increased scalability and effectiveness of freeze-dried products, are likely to propel the market growth over the forecast period.

The industry gained traction due to the burgeoning demand for vaccines and drugs during the COVID-19 pandemic. Rapid development of vaccines in emerging nations opened new opportunities for the lyophilization equipment market as many pharmaceutical companies adopted the technology for processing drugs for the coronavirus infection.

Moreover, major industry players have been focusing on broadening their product portfolio as well as undertaking effective growth partnerships and mergers to remain ahead in the competitive landscape. To cite an instance, in June 2021, SP Industries Inc., a manufacturer of specialty equipment and lab supplies, launched a new R&D freeze dryer, the SP Hull LyoStar 4.0 to facilitate the research, optimization, and process scaling up of freeze-dry cycles.

The lyophilization equipment market has been bifurcated in terms of product, scale of operation, application, and region.

Based on application, the lyophilization equipment industry has been classified into pharmaceutical, biotechnology, biomedical, food processing, and others. The food processing segment held around 28.5% market share in 2021 and is expected to depict significant growth from 2022 to 2030. Shifting consumer preferences toward ready-made food, in line with rapid urbanization, has escalated the consumption of preserved food, which is fueling product penetration. Extensive use of freeze dryers in coffee and tropical fruits has encouraged manufacturers to adopt the lyophilization technique in the food industry, thereby proliferating segment growth.

Meanwhile, the pharmaceutical application segment accounted for more than 25.9% share of the lyophilization equipment market revenue in 2021. Surging demand for protein-based drugs, together with increased freeze drying of active pharmaceutical ingredients (API), is driving the pharmaceutical segment growth.

In the regional context, the Middle East & Africa lyophilization equipment industry captured over 8% share of the overall market revenue in 2021. The cumulative awareness among individuals regarding the latest technological trends and several benefits associated with the usage of lyophilized products is fostering the MEA lyophilization equipment industry growth. Additionally, the development of the pharmaceutical and biotechnological sectors is projected to further stimulate the demand for lyophilized equipment in the region between 2022 and 2030.

On the other hand, the Latin America lyophilization equipment market is primed to showcase above 9.4% CAGR over the next 8 years as a result of the strong presence of an extensive customer base and improvements in the medical devices industry in the LATAM region.