by The freeze-drying equipment is used in freeze-drying or lyophilization process which involves freezing the liquid substance and then reducing the surrounding pressure and adding heat to allow the frozen water in the substance to sublime directly from the solid phase to gas phase. Freeze-drying helps retain the structure, texture and flavor of various heat-sensitive food items, biologicals and pharmaceuticals products. The demand for freeze-drying equipment is rising with the growth of pharmaceutical and biotechnology industries that use freeze-dried (lyophilized) products to improve stability and extend shelf lives. Critical and thermolabile biomolecules are processed and preserved efficiently using freeze-drying technology.
The global Freeze-drying Equipment Market is estimated to be valued at US$ 9.95 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends witnessed in the Global Freeze-Drying Equipment Market Size is the increasing demand for modular facilities and low-cost freeze-drying infrastructure. Modular lyophilization equipment provides benefits of easy scalability and installation, minimum space requirement and overall reduced capital investment. Manufacturers are developing compact tabletop freeze dryers as per the needs of small-scale operations. Continuous technological advancements are enabling improved thermal conductivity, higher yield and processing speeds. Growing adoption of single-use technologies in biopharmaceutical freeze-drying also opens up opportunities for equipment providers in near future.
Porter’s Analysis
Threat of new entrants: Low barrier for new entrants to enter the market as the technology required is available. However, established players have an advantage due to their economies of scale and brand loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and less switching costs. Established buyers can negotiate on better pricing and favors.
Bargaining power of suppliers: Technology providers and raw material suppliers have moderate power. Suppliers of key components have differentiated products providing them bargaining power over buyers.
Threat of new substitutes: Threat of substitutes is moderate as other drying technologies provide alternatives. However, freeze drying has distinct advantages that hamper threat of substitutes.
Competitive rivalry: The market has presence of numerous global and regional players. Intense competition exists among players to gain market share through product innovation, quality and pricing.
Key Takeaways
The global freeze-drying equipment market is expected to witness high growth.
Regional analysis: North America holds a significant share of freeze drying equipment market and is expected to witness steady growth over the forecast period. Growing biopharmaceutical industry, increasing R&D investments and presence of global manufacturers are some factors supporting market growth. Asia Pacific is poised to grow at fastest CAGR during the forecast period due to increasing outsourcing of pharmaceutical manufacturing to countries like China and India.
Key players: Key players operating in the freeze-drying equipment market are Harris Corporation, KeyW Corporation, Septier Communication, Digital Receiver Technology (DRT), Rayzone Group, Rohde & Schwarz, L3Harris Technologies, CellAntenna Corporation, PKI Electronic Intelligence, Shoghi Communications Ltd., Ability Computer & Software, Advanced Tactical Systems (ATS), ESD America, NovoQuad Inc., GSMK CryptoPhone. These players are focusing on new product launches and mergers & acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
