Freeze Drying Market Worth $2,655.9 Million by 2019
DALLAS, September 9, 2014 /PRNewswire/ --
According to the new research report "Freeze Drying / Lyophilization Equipment Market by Scale (Lab, Pilot, & Industrial), Technology (Rotary, Manifold, & Tray - style) & by Accessories (Loading/Unloading System, Vacuum System, Clean-in-Place System, Control System) - Global Forecast to 2019" published by MarketsandMarkets, this report studies the freeze drying equipment market over the forecast period of 2014 to 2019. The global Freeze Drying Market is estimated to be worth $1,969.7 million by the end of 2014 and is expected to reach $2,655.9 million by 2019, at a CAGR of 6.2% from 2014 to 2019.
Browse 83 market data tables with 31 figures spread through 190 pages and in-depth TOC on "Freeze Drying / Lyophilization Equipment Market"
Early buyers will receive 10% customization on this report.
Today, a number of pharmaceutical and biotech manufacturers are increasingly expanding their existing freeze drying capacities in order to enhance the lifespan of the high value products such as vaccines, antibodies, proteins, enzymes, hormones, blood plasma, and bacteria-derived compounds. In addition, there is an increasing adoption of technologically advanced freeze drying solutions in the pharmaceutical industry to minimize human intervention in the freeze drying process to avoid contamination risks for the high value pharmaceutical and biotech products. However, shortage of skilled personnel with the expertise to operate, maintain, and scale up freeze drying systems, expensive set up and maintenance costs of freeze drying systems, rising adoption of refurbished freeze drying systems by pharmaceutical companies for cost-cutting activities, emergence and increasing utilization of alternative drying techniques in the pharmaceutical and biotechnology industry, may restrain the growth of this market during the forecast period of 2014 to 2019.
In this report, the Freeze Drying Market is segmented on the basis of different types of equipment and accessories, and geographies. This report also discusses the key market drivers, restraints, opportunities, and challenges for this market and its submarkets.
In 2013, Asia-Pacific region held nearly 1/3rd of the global market share, followed by North America with a share of ~30%. The highest market share of Asia-Pacific region is attributed to the presence and expansion of major pharmaceutical and biotechnology companies in these regions, especially in China, India, and Japan. Shift of pharmaceutical companies to this low cost manufacturing region as well as focus of expansion of major Freeze Drying Market players are the major growth drivers for the freeze drying equipment in Asia-Pacific region.
The major players in the Freeze Drying Market include Tofflon Science and Technology Co., Ltd.(China), IMA S.p.A.(Italy), GEA Group (Germany), Azbil Corporation (Japan), SP Industries Inc. (U.S.), Labconco Corporation (U.S.), Optima Packaging Group GmbH (Germany, HOF Enterprise Group (Germany), Martin Christ Gefriertrocknungsanlagen GmbH (Germany), and Millrock technology, Inc. (U.S.).
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