(PharmaNewsWire.Com, January 28, 2021 ) According MarketsandMarkets™ Research – The Global Freeze-Drying Equipment Market is projected to reach USD 7.3 billion by 2025 from USD 4.9 billion in 2020, at a CAGR of 8.2% from 2020 to 2025
COVID-19 Impact on the Freeze-Drying Equipment Market;
The COVID-19 pandemic has significantly affected the life sciences instruments market. The analytical instrumentation sector is facing challenges in its manufacturing and supply chain, such as delivering products to end users in a timely manner as well as attending to an uneven demand for products and services. The lyophilization equipment market, in the initial phase of COVID-19, was facing instability in terms of growth. This can be attributed to factors such as a decline in the product demand from major end users, limited operations in most of the industries, inadequate funding to research and academic institutes, temporary closure of major academic institutes, and disrupted supply chain and challenges in terms of providing essential/post-sales services due to the stringent lockdown policies.
Some of the major end users of lyophilization equipment, such as the pharmaceutical and food industries, have been moderately impacted by the COVID-19 pandemic. The pharmaceutical industry has been facing challenges like the unavailability of staff (leading to manufacturing units/warehouses not working at full utilization) and non-availability or disrupted supply of raw materials and packing materials. The companies that have operations across the globe are facing issues with regard to their operations and staff in several locations, as every country has devised its own policies and guidelines.
The industrial-scale lyophilization equipment segment accounted for the largest market share in 2019.
Based on scale of operation, the freeze-drying market is segmented into industrial-scale lyophilization equipment, pilot-scale lyophilization equipment, and laboratory-scale lyophilization equipment. In 2019, the industrial-scale lyophilization equipment segment accounted for the largest share of 68.2% of the market. The large share of this market segment can be attributed to the high standard of quality provided by industrial-scale lyophilization equipment. Industrial-scale lyophilization equipment can also be customized as per process requirements.
The food processing and packaging segment accounted for the largest market share in 2019.
Based on application, the freeze-drying equipment market is segmented into food processing and packaging, pharmaceutical and biotechnology manufacturing, medical applications, and other applications. The food processing and packaging segment accounted for the largest share of 36.3% in 2019. Lyophilization is widely used as a preservation technique for food products, as it retains the nutritional value and flavor of the food. This is a major factor driving market growth. Food ingredients are also freeze-dried to increase their shelf life, which is further propelling the use of this technology in food processing.
Some of the prominent players in this lyophilization equipment market are GEA Group (Germany), Azbil Corporation (Japan), Shanghai Tofflon Science Technology Co., Ltd. (China), IMA S.p.A. (Italy), SP Industries, Inc. (US), HOF Enterprise Group (Germany), Labconco Corporation (US), Martin Christ Gefriertrocknungsanlagen GmbH (Germany), Millrock Technology, Inc. (US), and OPTIMA Packaging Group GmbH (Germany).
Geographical Scenario: The lyophilization equipment market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2019, the Asia Pacific accounted for the largest share of 34.6% of the market and is projected to register the highest CAGR of 10.4% during the forecast period. The large share of the Asia Pacific regional segment can be attributed to the rising number of investments in this region, growth in R&D expenditure, and geographic expansion of lyophilization equipment companies in this region.
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