March 2, 2024
Freeze-Drying Equipment Market

Freeze-Drying Equipment Market Driven By Rising Demand For Long Shelf Life Products

Freeze-drying equipment are machines used for removing water from goods through sublimation. Freeze-drying equipment freeze materials, then reduces surrounding pressure to allow the frozen water in the material to sublime from solid to gas. This process allows perishable materials to be dried without damage and to last longer without refrigeration. Freeze-drying equipment are widely used across pharmaceutical, food, and biotechnology industries. The pharmaceutical industry is one of the largest end-uses of freeze-drying equipment due to ability of freeze drying to provide stability and extend shelf life of temperature sensitive drugs and vaccines. The Food and Drug Administration also approve many freeze-dried foods for long term storage and use in emergency preparedness kits.

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 key trends:

One of the key trends in the freeze-drying equipment market is increasing adoption of modular freeze dryers. Modular freeze dryers are more compact and flexible compared to conventional batch freeze dryers. Modular freeze dryers are equipped with standardized vacuum pumps, condensers, and product chambers allowing these components to be swapped across different models. Modular equipment designs reduce production downtimes by enabling faster maintenance and repair. Modular freeze dryers also increase production capacity as components can be added to existing systems. Their compact designs additionally save floor space in production facilities. Overall modular technology improves efficiency and flexibility of freeze-drying operations especially important for pharmaceutical and biotech manufacturers with urgent production needs

Porter’s Analysis

Threat of new entrants: Low capital requirements and availability of used equipment in the secondary market pose a moderate threat of new entrants in the freeze-drying equipment market.

Bargaining power of buyers: Large pharmaceutical companies have significant bargaining power over equipment manufacturers due to their high purchase volumes.

Bargaining power of suppliers: The availability of component suppliers with specialized parts and global production networks results in low bargaining power of suppliers in the market.

Threat of new substitutes: Limited substitute drying technologies and advantages of freeze-drying over alternative methods like spray drying result in low threat of substitution.

Competitive rivalry: The presence of multiple global and regional players intensifies the rivalry in the freeze-drying equipment market.

Key Takeaways

The Global Freeze-Drying Equipment Market Demand is expected to witness high growth during the forecast period of 2023 to 2030.

Regional analysis: The Asia Pacific region is anticipated to experience the fastest growth in the market due to rising penetration of lyophilization technology and increasing R&D spending in life sciences industry.

Key players operating in the freeze-drying equipment market are Harris Corporation, KeyW Corporation, Septier Communication, Digital Receiver Technology (DRT), Rayzone Group, Rohde & Schwarz, L3Harris Technologies, CellAntenna Corporation, PKI Electronic Intelligence, Shoghi Communications Ltd., Ability Computer & Software, Advanced Tactical Systems (ATS), ESD America, NovoQuad Inc., GSMK CryptoPhone.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it