Freeze drying equipment helps preserve foods and biomaterials by removing moisture from them after freezing. It is widely used in pharmaceutical and food industries for drying heat-sensitive materials and medicines. The equipment has a vacuum chamber where the material is frozen and then gradually sublimates the frozen water content through low temperature and low pressure. Some key applications of freeze-drying include drying of injectable drugs, vaccines, parenteral products, blood plasma, antibiotics, monoclonal antibodies, and human tissue for transplantation.
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 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing investment in research and development of novel drugs by pharmaceutical companies is fueling the demand for freeze-drying equipment. Freeze-drying helps extend the shelf-life of drugs without altering their therapeutic properties. It prevents hydrolysis and oxidation reactions in moisture-sensitive compounds. Additionally, the growing demand for ready-to-eat and packaged food has boosted the installations of industrial-scale freeze dryers. The ability of freeze-drying to maintain the texture, flavor and odor of food products has augmented its use in food processing industry. Technological advancements in lyophilization techniques have further widened the application scope of freeze-drying equipment.
PEST Analysis
Political: The freeze-drying equipment market is moderately impacted by government regulations and subsidies. Some governments provide subsidies and funding for R&D activities in the pharmaceutical sector which boosts the demand for freeze-drying equipment from pharmaceutical manufacturers.
Economic: The growing pharmaceutical industry is a major driver for the freeze-drying equipment market. Developing economies are witnessing higher healthcare spending which increases the demand for medicines and drives the need for freeze-drying equipment in these regions. Additionally, freeze drying helps extend the shelf life of foods and improves logistics which benefits the food industry.
Social: An aging global population increases the demand for medicines and drives the need for better preservation technologies. Freeze drying helps meet this demand by improving productivity and efficiency in pharmaceutical and biopharmaceutical manufacturing. It also helps preserve food longer for trade and consumption in remote regions.
Technological: Advanced technologies like laser-induced freeze drying and spray freeze drying are gaining popularity. Lasers enable localized and targeted freeze drying. Spray freeze drying is useful for heat-sensitive materials. Manufacturers are focusing on automation, digitization and improving energy efficiency of freeze-drying equipment through new technologies.
Key Takeaways
The Global Freeze-Drying Equipment Market Growth is expected to witness high.
Regional analysis: North America dominated the market in 2024 due to strong pharmaceutical industry presence in the US and Canada. Europe and Asia Pacific are expected to be the fastest growing markets. Developing countries in Asia Pacific such as China and India are expected to witness increased demand for freeze-drying equipment driven by expanding pharmaceutical production.
Key players operating in the freeze-drying equipment market are Harris Corporation, KeyW Corporation, Septier Communication, and Digital Receiver Technology (DRT).
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it