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Freeze Drying Equipment Market Size, Share, 2025 | Industry Report

Freeze Drying Equipment Market Analysis Report By Product, By Application, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17613055  |  Published: October 2020  |  No of Pages: 104
Format: Electronic (PDF)  |  Industry: Technology  |  Publisher: Grand View Research

Industry Insights

The global freeze-drying equipment market size was accounted for USD 1.58 billion in 2018. It is projected to register a CAGR of over 8.7% over the forecast period, 2019 to 2025. Freeze drying product is used for preventing heat-sensitive pharmaceutical, biological materials, food, and others. Growing pharmaceutical, and food processing industry is mainly boosting the market growth. Various benefits such as improved efficiency in air-drying, desiccant drying are further projected to foster market growth.

Asia Pacific freeze drying equipment market

Growing need for drying application in leather preservation, flower preservation, and surgical procedures is expected to spur the demand for freeze-drying equipment. In addition, this equipment is used in food process applications. Rising demand for preserved food is boosting the need for freeze type drying products.

In pharmaceuticals and biotechnology industries, for storing and stabilizing drug products, freeze-drying products are necessary. This equipment is helpful in lowering product temperature. It involves application of high-pressure vacuums to extract water.

Heat-sensitive and delicate biologicals are dried under low temperatures without affecting drug structure. These processed elements are then used in vaccines, and antibodies production.

The product has also high demand from the defense & military industry. Freeze-dried plasmas are used on the battlefield. In a medical emergency at the military base, products need to be refrigerated for which various other additional equipment are required, thereby it is a time consuming. However, frozen plasma can be used for treating injuries.

Product Insights

Based on the product, the freeze drying equipment market is fragmented into laboratory freeze dryers, mobile freeze dryers, bench top freeze dryers, industrial freeze dryers, general purpose freeze dryers, and other. In 2018, industrial freeze type dryer type segment contributed to the highest share. The segment is projected to account for around 36.0% by 2025. This equipment is utilized in large scale industries for drying applications. Mobile dryer type segment is estimated to grow at the highest CAGR over the forecasted period.

Application Insights

Biotechnology application segment is projected to expand at the fastest CAGR from 2019 to 2025. In 2018, food processing application segment dominated the market with share of more than 32.0%. Freeze drying process maintain moisture and reduces pressure on product through sublimation.

Global freeze - drying equipment market

Pharmaceutical application segment is projected to lead the market over the forecast period, owing to its rising application in preservation of biological like enzymes, bacteria, proteins, and others. In addition, growing need for plateletrich plasmas (PRP)process in surgical process is expected to positively impact on market growth.

Regional Insights

In 2018, North America accounted for revenue of USD 548.0 million. On the other hand, Asia Pacific is expected to grow at a significant pace in the next few years.  Increasing pharmaceutical industries across China, and India is contributing to regional market growth.

Europe is estimated to expand at a substantial CAGR over the forecasted period. The presence of leather-based tanneries in the region is supporting market growth. The drying equipment is highly used in leather tanning processing.

COVID-19 Impact Analysis

The outbreak of COVID-19 has negatively impacted the global freeze-drying equipment market. Global spread of COVID-19 is projected to hamper the market growth for the short term. Volatility in the supply of raw material and lockdowns have caused a slowdown in the production of drying equipment.

Rising demand from pharmaceutical industries for the preservation of drugs is expected to proliferate the demand for freeze-drying type products in the next few years. Industrial equipment manufacturers are facing challenges owing to supply chain disruption and the shutdown of factories. However, the market is projected to grow at a rapid pace once the coronavirus situation is normalized. 

Freeze Drying Equipment Market Share Insights

Leading manufacturers in the market include Tofflon Science and Technology Co Ltd., Labconco Corporation, GEA Group, and Azbil Corporation. Companies in the industry are focusing on strategic acquisitions, collaborations to increase their presence across the world.

For example, ABB has launched ScreenMaster a video graphical recorder for data tracking. This system is useful in medical segment. Major players are focusing on investment in R & D activities and developing innovative equipment to gain the competitive advantages over others.

Report Scope

Attribute

Details

Market size value in 2020

USD 1,785.8 million

Revenue forecast in 2025

USD 2,769.0million

Growth Rate

CAGR of 8.7% from 2019 to 2025

Base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Quantitative Units

Revenue in USD Million, & CAGR from 2019 to 2025

Report coverage             

Revenue forecast, company ranking, competitive landscape, growth factors and trends

Segments covered

Product, application, region

Regional scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Country scope

U.S., Canada, Germany, U.K., France, China, Japan, India, Brazil, and Mexico.

Key companies profiled

GEA Group; Tofflon Science and Technology Co., Ltd; Azbil Corporation; Labconco Corporation.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global freeze drying equipment market report on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Bench Top Freeze Dryers
    • Laboratory Freeze Dryers
    • Mobile Freeze Dryers
    • General Purpose Freeze Dryers
    • Industrial Freeze Dryers
    • Others

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Biotechnology
    • Pharmaceuticals
    • Food Processing
    • Surgical Procedures
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
        • France
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)

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