Lyophilization equipment and services: Key market research findings
- EMEA dominates the market geographically
- Pharmaceutical and biotechnology companies account for a majority share of the market’s revenue
- Key vendors – Azbil Telstar, GEA Group, Labconco, and ThermoFisher Scientific
Technavio’s market research analysts predict the global lyophilization equipment and services market to grow at a CAGR of more than 8% between 2016 and 2020. The market’s growth is augmented by the focus on labile drugs and injectable therapeutics. Many pharmaceutical companies are lyophilizing their formulations, as these drugs remain stable for few hours while in the dry powdered state have an increased shelf-life. Freeze-dried formulations also offer easy handling during shipping. During 2015, EMEA dominated the global lyophilization equipment and services market by accounting for more than 55% of the overall market share. Advances in novel technologies for lyophilization and related active clinical trials is expected to further fuel growth in the lyophilization equipment and services market in EMEA during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the lyophilization equipment and services segment based on the end-user.
“Of late, the market has been witnessing an increase in the focus on novel technologies for lyophilization. Research institutes are working on novel technologies to develop lyophilization processes that will reduce the preservation costs of biomolecules. Many advanced lyophilization technologies such as PAT technology, controlled ice nucleation during freezing, and miniaturization techniques have been introduced in the market,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
By 2020, the pharmaceutical and biotechnology companies segment will continue its dominance as the primary revenue generator in the global lyophilization equipment and services market with a market share of more than 55%. Pharmaceutical companies perform lyophilization to increase the shelf life of biological products such as vaccines, proteins, peptide, other injectables, and labile drugs. Biotechnology companies adopt lyophilization to develop and introduce new products such as recombinant DNA and monoclonal antibodies. The rise in the number of these companies worldwide, especially in emerging countries such as Russia, Brazil, Mexico, Malaysia, India, and China, will be the major driving force behind the demand from this segment in the coming years.
The key vendors in the global lyophilization equipment and services market include Azbil Telstar, GEA Group, Labconco, and ThermoFisher Scientific. Characterized by the presence of many global and local vendors who provide freeze dryers and other related products, this market appears to be highly fragmented. Local and regional vendors have started collaborating with end-users to provide improved support services. Though they find it difficult to compete with global vendors in terms of product quality, durability, reliability, and technology of products, they pose a stiff competition to the established vendors by offering lyophilization machines at comparatively lower prices. The development of new products and rising number of M&As are likely to intensify competition among vendors in the coming years. The forecast period will also witness the global freeze dryer manufacturers growing inorganically by acquiring regional or local players. Leading players are also focusing on maintaining and expanding their customer base by enhancing their product portfolio, developing new technologies, and upgrading their existing products.
A more detailed analysis is available in the Technavio report, Global Lyophilization Equipment and Services Market 2016-2020.
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