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

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. The 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.

The 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. The rising demand for preserved food is boosting the need for freeze-type drying products.

In the pharmaceuticals and biotechnology industries, for storing and stabilizing drug products, freeze-drying products are necessary. This equipment helps lower product temperature. It involves the 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 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, benchtop freeze dryers, industrial freeze dryers, general-purpose freeze dryers, and others. In 2018, the 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. The mobile dryer type segment is estimated to grow at the highest CAGR over the forecasted period.

Application Insights

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

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

Regional Insights

In 2018, North America accounted for a 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. The 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 the medical segment. Major players are focusing on investment in R & D activities and developing innovative equipment to gain competitive advantages over others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2014 to 2025. For this study, Million Insights has segmented the global freeze drying equipment market report based on 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
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)