The global lyophilization market size is projected to reach US$ 988.8 Million in 2022. Increasing adoption of lyophilization services for the production of pharmaceutical and biopharmaceutical products is expected to push sales at a robust 8.8% CAGR over the assessment period (2022-2032).
Rising awareness regarding the beneficial aspects of lyophilization process, along with technological advancements in freeze drying equipment will drive sales in the market. The process effectively increases the shelf life of pharmaceutical and biopharmaceutical products. Manufacturers are using lyophilization for vaccines, antibodies, and peptides.
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Rising adoption of lyophilization process across industries such as pharmaceutical, healthcare, food & beverage, and academic institutes for research is anticipated to fuel sales in the market. This is also spurring demand for lyophilization equipment and other accessories, thereby creating opportunities for growth for key players.
Besides this, various organizations are offering services for pharmaceutical drug development and manufacturing processes. Drug manufacturers are preferring contract development and manufacturing organization (CDMOs) and contract manufacturing organizations (CMOS), which are one of the key end users of lyophilization equipment.
Further, growing consumption of freeze-dried fruits, vegetables, packaged food products, and pet food products is driving demand for lyophilization equipment in the food processing sector. The process enhances the stability of such food products and increases their shelf life, which is anticipated to push sales in the market over the forecast period.
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Key manufacturers operating in the lyophilization market are investing in research and development to improve the functionality, efficiency, and reliability of lyophilization equipment and processes.
They are also collaborating with academic research institutes to provide a direct supply of lyophilization equipment and accessories to gain a competitive edge. Some recent developments include:
Key Companies Profiled by Fact.MR
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More Valuable Insights on Lyophilization Market
In its latest study, Fact.MR offers compelling insights into trends and drivers that are expected to shape the sales outlook of the global lyophilization market for the forecast period of 2022 to 2032. The study offers an in-depth analysis of the market, including demand and supply trends through detailed segmentation as follows:
By Product Type:
By Scale of Operation:
By End User:
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