Lyophilization refers to a process used by biotech and pharmaceutical manufacturing industries to prolong life span and reduce the damage that is caused to sensitive products such as proteins, vaccines, blood plasma, antibodies, and enzymes. The key market drivers in the global lyophilization equipment and services market are increasing chances of high value pharmaceutical products getting contaminated and greater technological developments. It is of prime importance for most pharmaceutical organizations to ensure that the efficacy and function of drug molecules are duly maintained and that they are prevented from any kind of damage.
According to a recent research report, in 2013, the global lyophilization equipment and services market was estimated to be worth US$2.73 billion. By 2020, this market is expected to reach a value of US$4.80 billion, growing at a compound annual growth rate (CAGR) of 8.5% during the report’s forecast period of 2014 to 2020. Currently, the global lyophilization equipment and services market is growing robustly because of greater proliferation of manufacturing organizations all across the globe and rapid expansion of the worldwide biopharmaceutical market.
Bulk Lyophilization Segment to Witness Highest Growth over the Years
The global lyophilization equipment and services market is segmented on the basis of four main parameters: type of equipment, type of service, application areas, and geography. Based on equipment type, the global lyophilization equipment and services market is categorized into freeze drying microscopes, rotary lyophilizers, tray lyophilizers, and bench-top lyophilizers.
In 2013, the largest share in the global lyophilization equipment and services market was held by the segment for tray lyophilizers with a market share that exceeded 45%. This market segment is anticipated to retain its leading position in the forthcoming years as well. On the basis of service type, this market is classified into bulk lyophilization, aseptic filling, and cycle development. Within the service segment, the highest share in the overall market for lyophilization equipment and services is held by the bulk lyophilization category.
It is anticipated that this market segment will grow at a CAGR higher than 6.5% during the forecast period. The main factors fuelling the bulk lyophilization segment are large volume drying and cost affordability. The various application areas in the global lyophilization equipment and services market are nutraceuticals, diagnostics, biopharmaceuticals, diagnostics, and pharmaceuticals. In 2013, the global lyophilization equipment and services market was dominated by the pharmaceuticals application segment.
What Will Drive the Asia Pacific Lyophilization Equipment and Services Market?
Geographically, the global lyophilization equipment and services market is classified into Europe, North America, Latin America, the Middle East, Asia Pacific, and Rest of the World. In 2013, the global lyophilization equipment and services market was led by Europe owing to factors such as greater clinical trial activities and development of newer technologies with regard to lyophilization. The Europe lyophilization equipment and services market is mainly propelled by the presence of a large pool of skilled labor. It is however anticipated that the Asia Pacific lyophilization equipment and services market will witness highest rate of growth during the forecast period owing to an expanding consumer market, suitable government policies, and widespread adoption of newer and innovative technologies. The global lyophilization equipment and services market is majorly fragmented because of greater involvement of several emerging and established biopharmaceutical firms.
The key companies operating in the global lyophilization equipment and services market are LSNE Contract Manufacturing, Irvine Pharmaceutical Services, Lyophilization Technology, Inc., W.L. Gore & Associates, Inc., GenScript, Inc., ZIRBUS Technology GmbH, Baxter BioPharma Solutions, Aseptic Technologies, Biopharma Technologies Ltd, and Alliance Healthcare Services.
Browse Full Global Lyophilization Equipment and Services Market Report With Complete TOC @ http://www.transparencymarketresearch.com/lyophilization-equipment-services.html
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