Global Freeze-Drying Market 2022-2028

Global Freeze-Drying Market 2022-2028

Global freeze drying market was valued at $2.1 billion in 2021 and is anticipated to grow at a CAGR of 7.2% during the forecast period (2022-2028). The global freeze-drying market has been growing significantly owing to rise in adoption of freeze-drying technology for and heat sensitive materials of high value, rise in import and export of lyophilized products, rise in contract manufacturing and lyophilization services across the globe. Additionally, there are other factors that are boosting the market which includes rise in pharmaceutical industries and demand for freeze drying of new biologic drugs and injectable formulations and technological advancements in lyophilization methods. However, stringent government regulations and policies and high cost of freeze-drying technique will act as a restraint in the growth of the global freeze-drying market. On the other hand, demand for lyophilized products in Middle East and Asia-Pacific and pharmaceutical manufacturers to incline towards emerging market may act as an opportunity in the growth of global freeze-drying market.

Segmental Outlook

The global freeze-drying Market is segmented based on type, technology, and scale of operation. Based on the type, the market is segmented into vacuum systems, loading, and unloading, controlling and monitoring systems, manifolds, clean in place systems, drying chambers, and other freeze-drying accessories. Based on the technology, the market is segmented into tray-style freeze dryers and manifold freeze dryers. Based on the scale of operation, the market is segmented into Industrial-scale freeze dryers, pilot-scale freeze dryers, and lab-scale freeze dryers.

Tray Style Freeze Dryers is anticipated to grow due to an increase in the utilization of contract manufacturing.

Tray style freeze dryers market segment holds the major share in 2019. The factors such as the increase in the utilization of contract manufacturing, contract lyophilization services in the pharmaceutical industry, and the growing commercialization of labile drugs are propelling the growth of the market. The tray-style freeze dryers are larger than other dryers and perform both primary and secondary freeze-drying. The tray-style freeze dryer can dry products in bulk. Tray style freeze dryers are preferred for the higher degree of product lyophilization and use with the applications such as vaccines that require long-term storage.

Regional Outlooks

The global freeze drying market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is the largest market in the freeze-drying market followed by Europe due to the increasing adoption of frozen food and lyophilized products. Other factors such as the increase in research and development activities and rising approval of biological products are also bolstering the market growth. Furthermore, the acceptance of advanced technologies during the development of vaccines and antibodies by several pharmaceutical companies will encourage the demand for lyophilization equipment in the region. Growth in the food industry and increasing risk of the perishability of food will also contribute to the market growth in the region during the forecast period.

Asia-Pacific will Have Considerable Shares in the Global Freeze-Drying Market

Asia-Pacific is projected to grow at a significant CAGR during the forecast period. The market is growing in the region due to the shift of the pharmaceutical and biotechnology industry to emerging economies for low-cost manufacturing, economic labor, and improved infrastructure. Improved healthcare spending, infrastructure development, and favorable government policies are expected to create a significant opportunity. Other factors such as the rising number of investments in this region, increase in R&D expenditure, and geographic expansion of lyophilization equipment companies are also propelling the growth of the market in the region. Increasing spending on food and R&D in healthcare and life sciences in the countries such as China, Japan, and India. Furthermore, the presence of major players in the lyophilization industry in the region and the rise in new manufacturing units of the leading pharma companies further projected to contribute significantly to the market growth.

Market Players Outlook

Some of the key players of the Freeze-Drying Market include Azbil Corp., GEA Group AG, I.M.A. Industria Macchine Automatiche S.p.A., Labconco Corp., Martin Christ Gefriertrocknungsanlagen, OPTIMA packaging group GmbH, SP Industries, Inc., Tofflon Science and Technology Co., Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2020, Azbil Corp., developed a laboratory freeze dryer, LyoQuest Arctic. This freezer is specifically for R&D purposes. LyoQuest Arctic Freeze dryer that integrates pre-freezing, primary drying, and secondary drying process avoiding the use of conventional cooling gases.