Market Trends of Lyophilization Equipment and Services Industry
This section covers the major market trends shaping the Lyophilization Equipment & Services Market according to our research experts:
Pharmaceutical and Biotech Manufacturing Segment is Expected to Witness Growth Over the Forecast Period
Lyophilization transforms a drug product from a liquid to a stable solid by eliminating water or other solvents. Pharmaceutical and biotech manufacturing companies are increasingly interested in the lyophilization technique as it extends the shelf life of both small and large-molecule drugs.
The use of lyophilization is crucial for both pharmaceutical and biopharmaceutical manufacturing. For instance, according to an article published in the Pharmaceutics Journal in July 2021, freeze drying, also known as lyophilization, is the most employed process for producing pharmaceutical products that are unstable and thermosensitive in an aqueous medium in order to ensure stability and long-term storage in the dried state. Given the advantages, the demand for lyophilization equipment and services by pharmaceutical and biotech companies is estimated to rise during the analysis period.
The pharmaceutical and biotech companies are engaged in the manufacturing of lyophilized medication owing to the increased demand for lyophilized drugs, which is ultimately leading to a surge in approvals and the launch of the lyophilized medication. For instance, in October 2021, Dr. Reddy's Laboratories Ltd. launched carmustine for injection, USP, after approval by the US FDA. The lyophilized powder marketed as carmustine for injection USP comes in a package with a single-dose vial having 100 mg of the medication and 3 mL of sterile diluent. The launches of lyophilized drugs are anticipated to boost the utility of lyophilization equipment and thereby propel the segment's growth during the forecast period.
Also, in May 2022, Optima Pharma Division inaugurated a comprehensive scientific process engineering (CSPE) center in Germany. The company responded to customer requests and expanded the successful CSPE process for fast and safe production start-up of the integrated filling lines with isolators and freeze dryers. The inauguration of the CSPE center is associated with the use of lyophilization equipment, which will add to market growth.
Therefore, the above-mentioned facts indicate the growth of the segment over the forecast period. Moreover, the rising research and development expenditure by pharmaceutical companies is estimated to boost the market's growth during the analysis period.
North America is Expected to Dominate the Lyophilization Equipment and Services Market Over the Forecast Period
North America is expected to dominate the market owing to factors such as rising research and development activities, the rising approval of biological products, and the strong presence of industry players in the region.
According to EFPIA data for the pharmaceutical industry for 2022, North America accounted for 49.1% of world pharmaceutical sales in 2021, compared with 23.4% in Europe. A huge percentage of pharmaceutical sales, including lyophilized drugs, indicated the high utility of lyophilization equipment and services, contributing to the market growth of the region.
Furthermore, the advancements in technology and increasing product approvals, along with partnerships and collaborations by key players, are helping in the market's growth. For instance, in April 2022, NJM launched Dara Pharma Group's Coolvacuum freeze-drying equipment in the United States and Canada at the Interphex booth. The Coolvacuum product line includes a variety of lyophilization solutions, from small, standalone freeze dryers for research and development labs to large, fully integrated systems for commercial fill-finish packaging lines. Such launches illustrate the demand for lyophilization equipment and services that are required for manufacturing medications and food processing.
Thus, owing to all the above-mentioned factors, the market is expected to witness high growth in the region during the forecast period.
