Freeze-drying Market size is expected to reach USD 15 Billion by the end of 2035, growing at a CAGR of 14% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of freeze-drying was over USD 5 Billion. The demand for lyophilization services is being increased due to the focus on better manufacturing practices. Lyophilization services are being used by pharmaceutical manufacturers to keep APIs and medicinal products sterile. Centers for Medicare & Medicaid Services (CMS) estimates that the National Health Expenditure (NHE) in the United States increased by 5.2% in 2020 compared to 2019.
Due to the fact that freezing is a kind of concentration and does not need any additives in order to enhance its flavor, all freeze-drying procedures or components do not have to be treated differently. This factor is steadily boosting the market growth of freeze-drying. According to information obtained from the U.S. Department of Agriculture, the country spent USD 1.7 trillion on food overall in 2018, an increase of USD 78.2 billion from the previous year. The overall amount spent on food by final consumers increased by almost 4% in 2019 compared to the previous year.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 14% |
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Base Year Market Size (2022) |
~ USD 5 Billion |
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Forecast Year Market Size (2035) |
~ USD 15 Billion |
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Regional Scope |
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Equipment (Tray-Style Freeze Dryers, Manifold Freeze Dryers, Rotary Freeze Dryers)
The tray-style freeze-drying market is expected to have the largest share of 65%. The tray-style category is growing significantly owing to the rising demand for contract manufacturing and contract lyophilization services in the pharmaceutical industry. Also, the growing adoption and need for freeze-dried food products is surging the demand for tray-style freeze dryers.
End-User (Food Processing & Packaging, Pharmaceuticals, Biotechnology, Biomedical)
The food processing & packaging segment is projected to hold 45% share of the global freeze-drying market owing to beneficial factors such as retaining the nutritional value, and flavour of the food. Also, the increasing freeze-drying process of the food ingredients for the processes fruits & vegetables is escalating the segment growth in the market
Our in-depth analysis of the global market includes the following segments:
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Equipment Type |
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End-User |
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APAC Market Forecast
By region, Asia Pacific is expected to hold the largest market share by the end of 2035 with about 39% share. The presence of key players in the lyophilization market in the region and the development of manufacturing units of dominating pharma companies in the Asia Pacific region is expected to drive the market growth during the forecast period. In addition, there has been an increase in the expenditure on research & development by the pharmaceutical companies of countries such as China, and India. For instance, Indian pharmaceutical companies on average spend nearly 12 percent of their annual turnover on research and development every year.
North America Market Statistics
North America is expected to hold the second-largest share of the revenue at about 25% during the forecast period. The market is growing on the account of rising approval of biological products in the region. Furthermore, the advancements and innovations in the products are also driving the market growth. For instance, during the Interphex show in April 2022, NJM introduced Cool vacuum freeze-drying from Dara Pharma Group in the US and Canada. These new releases show the need for lyophilizing equipment and services needed to produce medicines and foodstuffs.
Author Credits: Radhika Gupta, Shivam Bhutani
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