PUNE, India, December 10, 2015 /PRNewswire/ --
According to a new market research report "Lyophilization Equipment Market by Technology (Manifold, Rotary), by Application (Food Processing and Packaging, Medical Applications, Pharma and Biotechnology), by Accessories (Vacuum Systems, Manifolds, Drying Systems) - Global Forecast to 2020", published by MarketsandMarkets, The global market is expected to grow at a CAGR of 7.4% during the forecast period, and reach USD 5.47 Billion by 2020.
Browse 111 market data Tables and 43 Figures spread through 171 Pages and in-depth TOC on "Lyophilization Equipment Market"
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The market report analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.
This report studies the global lyophilization equipment market during the forecast period of 2015 to 2020. Growth in this market is attributed to rising demand of lyophilized products and preserved food, growth in contract manufacturing services, and technological advancements in lyophilization techniques. However, high cost of setup and maintenance of the equipment, and strict regulatory guidelines that need to be followed in this process could restrain the growth of this market to a certain extent.
The global lyophilization equipment market is segmented by technology, scale of operation, application, accessories, and region. This report also discusses the key drivers, restraints, opportunities, and challenges for this market. On the basis of technology, the market is segmented into tray-style freeze dryers, manifold freeze dryers, and rotary freeze dryers. The market based on scale of operation is segmented into industrial-scale, pilot-scale, and laboratory-scale. On the other hand, the market on application is divided into food processing and packaging, pharmaceutical and biotechnology manufacturing, medical applications, and others. The accessories market is further segmented into loading and unloading systems, control and monitoring systems, vacuum systems, CIP systems, drying chamber, freeze drying trays/shelves, manifolds, and others.
In 2014, the tray-style freeze dryers market accounted for the largest share of the lyophilization equipment market based on technology. This is majorly due to its wide applications in the pharmaceutical and food industries. Rising focus on contract manufacturing services and growing commercialization of labile drugs are further expected to drive the growth of this market.
On the basis of region, the lyophilization equipment market is broadly segmented into North America, Europe, Asia-Pacific, and Rest of the World. Presence of large number of manufacturing facilities, and rising R&D activities has led to the high shares of Asia-Pacific region in this market. This region is also expected to grow at the highest CAGR, owing to the rising investment by the major companies in the emerging markets.
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Major players in the Lyophilization Equipment Market include SP Industries, Inc. (U.S.), Azbil Corporation (Japan), GEA Group (Germany), Industria Macchine Automatiche S.P.A (Italy), Tofflon Science and Technology Co. Ltd (China), Martin Christ Gefriertrocknungsanlagen GmbH (Germany), Labconco Corporation (U.S.), Hof Enterprise Group (Germany), Millrock Technology Inc. (U.S.), and Optima Packaging Group GmbH (Germany).
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