Lyophilization or freeze drying is a dehydration process used to preserve perishable materials and transport them easily. It is an efficient method for drying various unstable, heat-sensitive, and aqueous products in various industries. The process is widely used in the pharmaceutical and biotechnology companies to stabilize, store, and increase the shelf life of drug products and other biological molecules such as antibodies, proteins, hormones, enzymes, blood plasma, and bacteria-derived compounds, without affecting their internal physical structure. The process removes 95%-97% of the moisture or solvent from the products and provides a prolonged storage. Freeze drying also helps produce tablets or wafers for easy dosage administration.
Technavio’s analysts forecast the global lyophilization equipment and services market to grow at a CAGR of 8.36% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global lyophilization equipment and services market for 2016-2020. To calculate the market size, we consider the revenue generated from the sales of:
Technavio Announces the Publication of its Research Report – Global Lyophilization Equipment and Services Market 2016-2020
Technavio recognizes the following companies as the key players in the global lyophilization equipment and services market: Azbil Telstar, GEA Group, Labconco, and ThermoFisher Scientific.
Other Prominent Vendors in the market are: Aseptic Technologies, BioPharma Solutions, Biopharma Technology, Coriolis Pharma, Cryotec, Freezedry Specialties, HOF Enterprise, IMA Pharma, MechaTech Systems, Tofflon Science and Technology, and W.L. Gore and Associates.
Commenting on the report, an analyst from Technavio’s team said: “Novel technologies for lyophilization is a key trend for this market. The main disadvantage of freeze drying technology is the long and cost-intensive process and the limited amount of vials processed in each run, which restrict the overall production capacity. This has led research institutes to focus on novel technologies to develop lyophilization processes that will reduce the preservation costs of biomolecules.”
According to the report, focus on labile drugs and injectable therapeutics is a key driver for this market. Many pharmaceutical companies use lyophilization to improve the stability and long-term storage of labile drugs, vaccines, and injectable medicine. Freeze-dried formulations also offer easy handling during shipping. In the market, more than 150 small-molecule lyophilized injection products and 55 lyophilized proteins and vaccines are available. These products are lyophilized as they are unstable in aqueous solutions.
Further, the report states that shortage of skilled technicians is a challenge to market growth. The healthcare industry has been growing at a rapid pace, which has led to the need for more staff and technical experts. Shortage of skilled technicians can have a negative impact on the productivity and growth of a business, delay projects, create ongoing vacancies, increase wage levels, limit the capacity for R&D, and raise work pressure on the existing staff. Many medical facilities are using complex technologies that require technicians who have a thorough understanding of the working mechanisms.
Azbil Telstar, GEA Group, Labconco, ThermoFisher Scientific, Aseptic Technologies, BioPharma Solutions, Biopharma Technology, Coriolis Pharma, Cryotec, Freezedry Specialties, HOF Enterprise, IMA Pharma, MechaTech Systems, Tofflon Science and Technology, W.L. Gore and Associates.