The global Freeze-drying Equipment Market is estimated to be valued at US$ 8.63 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Freeze-drying equipment is used for vacuum dehydration of biopharmaceutical and food products. It helps in preserving the products without refrigeration by removing water from it under low pressure high vacuum conditions. Freeze-drying helps in extending the shelf life of products significantly.
Market key trends:
One of the key trends in the market is the increasing focus on development of advanced freeze-drying equipment for efficient processing. Manufacturers are focused on development of equipment with advanced process controls, monitoring, and automation. This helps in optimizing process parameters and increasing productivity. For instance, freeze-drying equipment available today allows linking with control systems for real-time monitoring and control of process parameters such as temperature, pressure, and vacuum. This helps in ensuring integrity and stability of products during drying. Additionally, equipment with advanced functionality such as in-built sensors, alarms and processing data analytics help improve process efficiency and repeatability.
SWOT Analysis
Strength: Freeze drying equipment is highly efficient for drying heat-sensitive materials such as foods and pharmaceuticals. It preserves the shape, texture, flavors, and nutrients of heat-sensitive products better than other drying methods.
Weakness: Freeze drying is an expensive process and requires high capital investments for freeze drying equipment. It is also a slow process compared to other drying techniques.
Opportunity: Increasing demand for freeze-dried foods and pharmaceutical products especially vaccines is driving the demand for freeze drying equipment. Growing biopharmaceutical industry especially for biologics also presents an opportunity.
Threats: Fluctuations in raw material prices especially metals used in fabrication of freeze drying equipment can increase the costs. Availability of alternative drying technologies also threatens the freeze drying equipment market.
Key Takeaways
The global freeze-drying equipment market is expected to witness high growth, exhibiting a CAGR of 16% over the forecast period, due to increasing demand for freeze-dried foods and pharmaceutical products.
Regional analysis:
North America dominates the freeze-drying equipment market currently due to strong presence of key players and extensive R&D activities in biopharmaceutical industry. Asia Pacific is expected to witness fastest growth fueled by expansion of pharmaceutical industry in emerging economies such as India and China.
Key players operating in the freeze-drying equipment market are Cuddon Engineering Ltd., Freezedry Specialties, Inc., GEA Group, IMA Life The Netherlands B.V., Labconco Corporation, SP Industries, Inc., Telstar, Thermo Fisher Scientific Inc., MechaTech Systems Ltd., Millrock Technology Inc., Zirbus Technology GmbH, Biopharma Process Systems Ltd., LTE Scientific Ltd., Martin Christ GmbH, Shanghai Tofflon Science and Technology Co., Ltd., and MAQUINARIA INDUSTRIAL DARA,and other prominent players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
