Global Freeze Drying Equipment Market Research Report—Forecast till 2024
Global Freeze-Drying Equipment Market value of USD 2.2 billion in 2018 and is projected to grow at a CAGR of 8.9% over the forecast period.
Global Freeze-Drying Equipment Research Report: by Type (Bench Top, Laboratory, Mobile, Others), by Application (Biotechnology, Pharmaceuticals, Surgical Procedures, Others), by End User (Pharmaceutical Companies, Hospitals, Others)—Forecast Till 2024
The global freeze drying equipment market is expected to grow significantly over the forecast period. The market held a market value of USD 2.2 billion in 2018 and is projected to grow at a CAGR of 8.9% over the forecast period.
Increasing awareness regarding various benefits of the freeze dried product, such as enhanced efficiency related to desiccant drying and air-drying are responsible for the growth of the market during the forecast period. Moreover, the rising usage of freeze drying equipment in surgical procedures is positively affecting market growth.
On the other hand, high set up & maintenance cost and increasing demand for refurbished systems from various biotechnology & pharmaceutical companies are likely to hamper the growth of the market.
The global freeze drying equipment market has been segmented into type, application, and end user.
By type, the market has been segmented into benchtop freeze dryers, laboratory freeze dryers, mobile freeze dryers, general purpose freeze dryers, industrial freeze dryers, and others.
Based on application, the market has been segmented into biotechnology, pharmaceuticals, surgical procedures, and others.
The market, by end user, has been segmented into pharmaceutical companies, biotechnology companies, hospitals, and others.
The global freeze drying equipment market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The freeze drying equipment market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European freeze drying equipment market has been segmented into Western Europe and Eastern Europe. Western Europe freeze drying equipment market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The freeze drying equipment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The freeze drying equipment market in the Middle East & Africa has been segmented into the Middle East and Africa.
Tofflon, GEA Group Aktiengesellschaft, Labconco, Azbil Corporation, Biopharma Process Systems Ltd, Cuddon Freeze Dry, Hosokawa Micron Group, Freeze Drying Systems Pvt. Ltd, Thermo Fisher Scientific Inc., Millrock Technology, Inc., ZIRBUS technology GmbH, SP Scientific, LTE Scientific Ltd, Hitachi, Ltd, MechaTech Systems Ltd are some of the prominent players in the global freeze drying equipment market.
Geographically, the Americas is anticipated to dominate the global freeze drying equipment market owing to the innovative product development and increasing investment in research and development for innovation in the region.
Europe is expected to hold the second largest position in the global freeze drying equipment market. The market growth in this region is attributed to the presence of strong academic & research base and availability of funding for research in the European countries. For instance, the European Research Council (ERC) provides grants for technological and scientific research conducted within the European Union (EU).
The freeze drying equipment market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be the fastest growing region owing to the shift of pharmaceutical companies to countries such as India and China, which are low-cost manufacturing regions.
The Middle East & Africa has the lowest share of the global freeze drying equipment market. Majority of the market of the region is anticipated to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.
Global Freeze Drying Equipment Market, by Type
Bench Top Freeze Dryers
Laboratory Freeze Dryers
Mobile Freeze Dryers
General Purpose Freeze Dryers
Industrial Freeze Dryers
Global Freeze Drying Equipment Market, by Application
Global Freeze Drying Equipment Market, by End User
Global Freeze Drying Equipment Market, by Region
Rest of Western Europe
Rest of Asia-Pacific
The Middle East & Africa
Global Freeze Drying Equipment Market, by Key Players
GEA Group Aktiengesellschaft
Biopharma Process Systems Ltd
Cuddon Freeze Dry
Hosokawa Micron Group
Freeze Drying Systems Pvt. Ltd
Thermo Fisher Scientific Inc.
Millrock Technology, Inc.
ZIRBUS technology GmbH
LTE Scientific Ltd
MechaTech Systems Ltd
Freeze Drying Equipment Manufacturers
Freeze Drying Equipment Distributors
Contract Research Organizations
Academic and Research Institutes