The global lyophilization equipment and services market is primarily driven by a thriving biopharmaceutical industry and rise in contract services, stated Transparency Market Research in its latest report.
The report is titled “Lyophilization Equipment and Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”.
The lyophilization market is estimated to grow from a value of US$2.7 billion in 2013 to US$4.8 billion by 2020. Developing healthcare sector in emerging economies and introduction of new technologies is projected to boost the market at an 8.50 per cent CAGR from 2014 to 2020. Lyophilization equipment includes tray lyophilizers, freeze drying microscopes, bench-top lyophilizers, and rotary lyophilizers. Accounting for a share of over 45.0 per cent in 2013, tray lyophilizers dominated the market driven by long-term stability of pharmaceutical products and growing use in large-scale production systems. Lyophilization services include aseptic filling, cycle development, and bulk lyophilization. Bulk lyophilization is the largest and the most rapidly developing service segment and is projected to expand at a 6.50 per cent CAGR from 2014 to 2020.
The worldwide market for lyophilization equipment and services is segmented on the basis of geography into North America, Latin America, Europe, Asia Pacific, the Middle East, and rest of the world.
The leading players contributing towards the growth of the global lyophilization equipment and services market include Irvine Pharmaceutical Services, Biopharma Technology, Ltd., Lyophilization Technology, Inc., Azbil Telstar, S.L., ZIRBUS Technology GmbH, W.L. Gore & Associates, Inc., Aseptic Technologies, BioPharma Solutions, SP Scientific, LSNE Contract Manufacturing, and Thermo Fisher Scientific, Inc. These vendors are analyzed on the basis of company overview, financial standing, recent developments, business strategies, and product portfolio.