Freeze Drying Equipment Market

The global freeze-drying equipment market is emerging due to the rapid expansion of the pharmaceutical and biopharmaceutical industries, rising awareness and technological advancements in freeze-drying technology, and increasing adoption of freeze-drying equipment in the food processing industry. However, increasing utilization of alternative drying techniques in the pharmaceutical and biotechnology industry and the growing preference of pharmaceutical companies for refurbished freeze-drying equipment are hampering the growth of the market.

The freeze-drying technique is commonly used to stabilize degradable substances including micro-organisms, pharmaceutical products, and biological substances. It has several advantages over conventional methods, and it helps to stabilize the heat-sensitive, delicate products without damaging its physical structure and chemical properties. Pharmaceutical and biological products such as vaccines and antibodies, penicillin, blood plasma, proteins, enzymes, hormones, and viruses and bacteria are processed with freeze-drying technology. The continuous growth of pharmaceutical and biopharmaceutical industries is directly responsible for increasing demand for industrial equipment including freeze-drying equipment for manufacturing, research, and development activities. According to the report published by The European Federation of Pharmaceutical Industries and Associations, The European market was the second-largest pharmaceutical market in the world with 18.1% market share and it produced pharmaceutical products worth USD 277.92 billion in 2017. Additionally, pharmaceutical companies in the developed region are spending a significant amount on R&D activities which are expected to bolster the growth of the market. For instance, according to the EFPIA member associations, the US holds first place in pharmaceutical R&D expenditure with spending of USD 52.4 billion followed by European countries that spent around USD 36 billion on pharmaceutical R&D activities. Thus, the expanding pharmaceutical industry leads to a subsequent increase in the demand for freeze-drying equipment’s for manufacturing and R&D activities, thereby driving the growth of the global freeze-drying equipment market.

Developing countries pose an opportunity for various markets due to the emerging pharmaceutical and food sector providing favorable conditions for the growth of the market. Additionally, in developing economies such as India, South Korea, Brazil, and China, well-established pharmaceutical and food processing companies are setting their footprint. The presence of a huge pharmaceutical industry and ongoing research and development activities in the region are anticipated to provide opportunities for freeze dryer manufacturers. According to the report published by India Brand Equity Foundation, the Indian pharmaceutical industry manufactures 50% of the global vaccines and has a 40% share in the export of generic medicines to the US. The Indian pharmaceutical industry was valued at USD 33 billion in 2017. Thus, a large pharmaceutical market represents a huge customer base in the developing regions where aggressive marketing strategies and strategic collaborations will be helpful in the growth of the companies in the region.

Drying is defined as the vaporization and removal of water along with other liquids from a solution, suspension, or solid-liquid mixture to form a dry solid. It is a complex process that includes simultaneous heat and mass transfer, complemented by physicochemical conversions. The freeze-drying technique is not as popular as conventional methods of drying. Conventional drying methods such as vacuum drying, fluidized bed drying, microwave vacuum drying, tray drying, and rotary drying are practiced in the market for a long period and the majority of the customer base is comfortable with conventional drying equipment. Freeze dryers require specific gases such as HFC cooling gases and are not considered ecofriendly. Major pharmaceutical and food processing companies manufacture their products on a large scale where freeze-drying is not convenient. Conventional drying methods are easy to carry out, cost-effective, and convenient for large scale manufacturing, hence, preferred by major manufacturers. Thus, the availability of alternative drying options in front of manufacturers is expected to hinder the market growth during the forecast period. Additionally, the sales of refurbished products in the market for is growing with a considerable rate which is creating an obstacle for the growth of the freeze-drying equipment market during the forecast period.