Research Nester released a report titled “Lyophilizer Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global lyophilizer market in terms of market segmentation by equipment type, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global lyophilizer marketis projected to grow with a moderate CAGR during the forecast period, i.e., 2022-2030 on account of the development in lyophilization technology and the rising demand for lyophilized products worldwide. Lyophilization commendably raises the shelf life of the products by removing the water from them without extreme heating and improves their stability in a dry state, which is estimated to boost the market growth. As per the data collected from the U.S. Department of Agriculture, the total expenditure on food in 2018 amounted to USD 1.7 trillion.
The market is segmented by equipment type into tray-style freeze dryers, manifold freeze dryers, and rotary freeze dryers. Among these segments, the tray-style freeze dryer segment is anticipated to hold the largest share by the end of 2021 as a result of its extensive use in pharmaceutical and food industries. Rising demand for processed food globally is also estimated to boost the growth of this segment. On the basis of end-user, the market is segmented into food processing & packaging, pharmaceutical & biotechnology, biomedical, and others. Out of these, the food processing & packaging segment is projected to grow with significant CAGR over the forecast period owing to the increasing adoption of lyophilized food products amongst the younger generation, backed by increased disposable income and changing lifestyle.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the lyophilizer marketin the Asia Pacific region is projected to grow at the highest CAGR throughout the forecast period owing to the increasing adoption of freeze-dried products in countries, such as, Japan and China, backed by busy lifestyle of younger generation. The rise in per capita income in the region is also anticipated to boost the market growth. Currently, the market in North America holds the largest share. This can be attributed to the presence of leading pharmaceutical & biotech industries in the region, especially in the United States, who are extensively involved in the early adoption of advanced lyophilization technologies.
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Development in Lyophilization Technology and Rising Demand for Lyophilized Products to Drive Market Growth
Aa per the report by USDA, in 2018, an average American spent around 9.7% of their total disposable income on food. With the growing population, the demand for food will also increase, will is estimated to directly influence the growth of the market.
The surge in global population translates into the growing food and healthcare needs, and hence, raises the demand for lyophilized products owing to their stability and elongated shelf life. This factor is expected to contribute to the market growth of lyophilizer. Additionally, the development in lyophilization technology in recent years is also expected to boost the market growth in upcoming years.
However, the expensive set up and maintenance cost of lyophilizer and rigid regulatory procedures are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global lyophilizer marketwhich includes company profiling of Azbil Corporation, Azbil Telstar, S.L.U., GEA Group AG, SP Industries, Inc., Labconco Corporation, Millrock Technology, Inc., I.M.A. Industria Macchine Automatiche S.P.A., HOF Enterprise Group, Scala Scientific, and Optima Packaging Group GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global lyophilizer marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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