Lyophilization Equipment Market Expected to Reach $10.61 Billion by 2030: Says AMR

Portland, OR, Oct. 28, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global lyophilization equipment market was estimated at $5.01 billion in 2020 and is expected to hit $10.61 billion by 2030, registering a CAGR of 7.80% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.

Increase in demand for lyophilized products and preserved food, rise in production of protein-based drugs, and injectable and biopharmaceuticals in biopharmaceutical companies drive the growth of the global lyophilization equipment market. On the other hand, surge in utilization of alternative drying techniques, high setup and maintenance cost of freeze-drying equipment, and strict regulatory guidelines along with lack of skilled workforce restrain the growth to some extent. However, rise in contract lyophilization and manufacturing services is expected to create lucrative opportunities in the future.

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Impact of COVID-19 on Lyophilization Equipment Market-

• There’s been a steep increase in demand for lyophilization equipment as lyophilization technique is used by researchers for Sars-CoV-2 virus vaccines such as mRNA-LNP SARS-CoV-2 formulations to improve the stability of the doses.
• This trend is most likely to continue post pandemic as well.

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The global lyophilization equipment market is analyzed across modality, scale of operation, application, and region.

Based on modality, the accessories segment accounted for more than half of the total market share in 2020, and is projected to rule the roost by the end of 2030. The same segment would also cite the fastest CAGR of 8.10% throughout the forecast period.

Based on scale of operation, the industrial segment contributed to more than two-thirds of the total market revenue in 2020, and is expected to lead the trail by 2030. The same segment would also grow at the fastest CAGR of 8.10% from 2021 to 2030.

Based on geography, Asia-Pacific held the major share in 2020, garnering more than one-third of the global lyophilization equipment market. The same region would also cite the fastest CAGR of 9.00% by 2030. The other three provinces discussed in the report include North America, Europe, and LAMEA.

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The key market players analyzed in the global lyophilization equipment market report include Thermo Fisher Scientific, Inc., Azbil Telstar SL (Azbil Corporation), GEA Group, Labconco Corporation, Millrock Technology Inc, Zirbus Technology GmbH, Biopharma Process Systems Ltd.,  Harbour Group Industries (SP Industries), LTE Scientific Ltd, and Martin Christ Gefriertrocknungsanlagen GmbH. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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