Lyophilization and its Market

According to Fact.MR, a market research and competitive intelligence provider, the global lyophilization market is set to experience strong expansion at an incline of 8.8% CAGR across the 2022-2032 assessment period. As per the report, the market is poised to be valued at US$ 2.3 billion by the end of 2032.

The increasing need for lyophilization for product stability is having a positive impact on the overall growth of the lyophilization market. Pharmaceutical drugs have to be developed and manufactured in high-quality conditions, and lyophilization helps in achieving the extended shelf-life of drugs with almost no contamination because it provides the finest aseptic conditions.

Full Access to this Exclusive Report is Available at- https://www.factmr.com/report/lyophilization-market

Since the prevalence of several diseases is increasing day by day, mainly due to the rising geriatric population, the pharmaceutical industry has experienced growing demand. High growth of the pharmaceutical industry has also driven the lyophilization market.

• As per the International Federation of Pharmaceutical Manufacturers and Associations Facts and Figures 2021, there were around 2,740 cancer drugs, 1,535 immunology drugs, 1,498 neurology drugs, and 1,213 infectious diseases drugs in development in 2020.

The acceptance of lyophilized products in the field of pharmaceutical and food processing has increased the adoption of freeze dryers so that products of superior quality can be produced.

Key Takeaways from Market Study

The freeze dryers product segment is estimated to grow 73.3% by 2032.

The industrial-scale segment has seen the largest utilization of the lyophilization process. This segment enjoyed a market share of 40.6% in terms of revenue in 2021.

By end user, biopharmaceutical companies hold 34.9% market share.

North America led the global market with 34.8% market share in 2021 and is estimated to exhibit a 7.9% CAGR over the forecast duration (2022-2032).

“Increasing demand for lyophilization services in biopharmaceutical, pharmaceutical, and food processing companies is likely to fuel market growth globally,” says a Fact.MR analyst.

Competitive Landscape

Acquisition of new machines by players helps in providing advanced technology products. Product launches and actively collaborating with other companies are key strategies followed by many market players.

• In January 2022, Zirbus Technology acquired a new machine for the high-performance double spindle/Y-axis turning center in its machine department. This was done to optimize the workflow and cut down on the time taken in several processes.

• In 2018, MechaTech Systems Ltd. announced a partnership with laboratory equipment supplier DP Union in Brazil. This partnership was done to have a distributor of LyoDry freeze dryers in the country.

You can also read: The Impact of Covid-19 in IoT Security

Full Access to this Exclusive Report is Available at- https://www.factmr.com/report/lyophilization-market

Acquisition of new machines by players helps in providing advanced technology products. Product launches and actively collaborating with other companies are key strategies followed by many market players.

The freeze dryers product segment is estimated to grow 73.3% by 2032.

The industrial-scale segment has seen the largest utilization of the lyophilization process. This segment enjoyed a market share of 40.6% in terms of revenue in 2021.

By end user, biopharmaceutical companies hold 34.9% market share.

North America led the global market with 34.8% market share in 2021 and is estimated to exhibit a 7.9% CAGR over the forecast duration (2022-2032).

• In January 2022, Zirbus Technology acquired a new machine for the high-performance double spindle/Y-axis turning center in its machine department. This was done to optimize the workflow and cut down on the time taken in several processes.

• In 2018, MechaTech Systems Ltd. announced a partnership with laboratory equipment supplier DP Union in Brazil. This partnership was done to have a distributor of LyoDry freeze dryers in the country.

Disclaimer: This post is for educational and knowledge purpose.