Pharmaceutical Application of Freeze Drying Equipment Anticipated to Grow at a CAGR of 11.0%, Aiding in Preservation of Vital Biologicals like Enzymes and Proteins
DUBLIN, Sept. 18, 2023 /PRNewswire/ -- The global freeze drying equipment market is poised for remarkable growth, with a projected market size of USD 3.50 billion by 2030, reflecting a robust CAGR of 9.1% from 2023 to 2030.
The "Freeze Drying Equipment Market Size, Share & Trends Analysis Report By Product (Bench Top Freeze Dryers, Laboratory Freeze Dryers), By Application, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
DUBLIN, Sept. 18, 2023 /PRNewswire/ -- The global freeze drying equipment market is poised for remarkable growth, with a projected market size of USD 3.50 billion by 2030, reflecting a robust CAGR of 9.1% from 2023 to 2030.
The surge in demand for food preservation and substantial investments in infrastructure development are set to be key drivers of market expansion in the coming years.
Consumer concerns regarding the quality of food and beverages have spurred the adoption of cold storage solutions across various industries. This increasing demand for food preservation equipment is expected to fuel the market for freeze drying equipment. Freeze drying, using lyophilization technology, allows for the preservation of a wide range of food items, including fruits, vegetables, meat, fish, herbs, ice cream, and coffee, among others. Freeze-dried foods can be easily reconstituted by adding water without the need for refrigeration or chemical preservatives, making them highly desirable in the food processing industry.
The pharmaceutical sector also extensively utilizes freeze dryers to cool a variety of products. This process ensures the preservation of the physical structure of sensitive pharmaceuticals and delicate biological products while drying them at moderate temperatures. These processed materials are critical for the production of emergency antibodies and vaccines, further boosting market demand.
The military and defense sectors are expected to make significant use of freeze-drying technology. Traditional methods of treating injured individuals with refrigerated blood products during emergencies have been time-consuming. However, freeze-dried plasma can now be used to treat injured individuals quickly before evacuation, driving market growth in this segment.
Key Companies Mentioned:
- Azbil Corporation
- Cuddon Freeze Dry
- GEA Group Aktiengesellschaft
- Harvest Right
- HOF Sonderanlagenbau GmbH
- Hitachi, Ltd.
- Labconco
- Martin Christ Gefriertrocknungsanlagen GmbH
- Millrock Technology, Inc.
- Optima Packaging Group GmbH
- Shanghai Tofflon Science and Technology Co., Ltd.
- SP Industries
- ZIRBUS technology GmbH
- Scala Scientific
- Freeze Drying Systems Pvt. Ltd.
Key Highlights of the Freeze Drying Equipment Market:
- The industrial freeze dryers segment dominated the market, accounting for 35.7% of the global market share in 2022. These freeze dryers are crucial for preserving highly sensitive items that cannot be dried through evaporation.
- The food processing application segment led the market, representing 34.0% of global revenue in 2022. The sublimation technique used in freeze drying minimizes pressure and maintains moisture, making it ideal for food preparation.
- The pharmaceuticals application segment is projected to grow at a CAGR of 11.0% during the forecast period due to the extensive use of freeze drying equipment in preserving biologicals such as enzymes, proteins, viruses, bacteria, and penicillin.
- The Asia Pacific region is expected to witness a CAGR of 11.2% over the forecast period, driven by the presence of major pharmaceutical companies utilizing freeze-drying technology to safeguard biological products.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Segmentation & Scope
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.4. Regulatory Framework
3.5. Freeze Drying Equipment Market - Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.5.3. Industry Challenges
3.6. Business Environmental Tools Analysis: Freeze Drying Equipment Market
3.7. COVID-19 Impact Analysis
Chapter 4. Freeze Drying Equipment Market: Product Estimates & Trend Analysis
Chapter 5. Freeze Drying Equipment Market: Application Estimates & Trend Analysis
Chapter 6. Freeze Drying Equipment Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/lc5slm
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