(EMAILWIRE.COM, May 23, 2018 ) The global freeze drying market was valued at $1,969.7 million in 2014 and is expected to reach at $2,655.9 million by 2019, at a CAGR of 6.2% during the forecast period of 2014 to 2019. This market is mainly driven by the increasing demand for lyophilization of biopharmaceutical and other high-value formulations in pharmaceutical and biotechnology industry. Growing adoption of automated loading and unloading systems, clean-in-place (CIP) systems, and PLC and PAT based control and monitoring systems to eliminate risks of contamination in the final pharmaceutical product is another major contributor to the growth of this market.

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However, the market growth will be restrained, to an extent, due to factors such as higher set up and maintenance costs of freeze drying systems, rising preference for refurbished lyophilization systems by pharmaceutical companies for cost-cutting activities, emergence and increasing utilization of alternative drying techniques in the pharmaceutical and biotechnology industry.

The global freeze drying market was valued at $1,860 million in 2013 and is expected to reach at $2,655.9 million by 2019.

In this report, the freeze drying market is broadly segmented into equipment market and accessories market, and geography. The equipment market is further segmented based on the scale of operations and technology. Based on the scale of operations the Lyophilization equipment market is segmented as lab-scale, pilot-scale, and industrial-scale freeze dryers; whereas, based on the technology, the market is segmented as manifold freeze dryers, rotary freeze dryers, and tray-style freeze dryers. Whereas, the accessories market is classified as vacuum systems, loading and unloading systems, control and monitor facilities, clean-in-place (CIP) systems, freeze drying chambers, lyophilization trays/shelves, manifolds, and other lyophilization accessories such as valves, filters, adapters, glassware, and stainless steel ware. The market is further divided into four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). These regions are further analyzed at the country level. This report also discusses the key market drivers, restraints, opportunities, challenges, and burning issues in the global market and its submarkets.

Asia-Pacific accounts for the largest share to the global freeze drying market, followed by North America, Europe, and RoW. The APAC region is expected to grow at the highest CAGR during the forecast period, largely driven by the rapid growth in pharmaceutical and biotech industries.

The major players in the freeze drying market include Tofflon Science and Technology Co., Ltd.(China), IMA S.p.A.(Italy), GEA Group (Germany), Azbil Corporation (Japan), SP Industries Inc. (U.S.), Labconco Corporation (U.S.), Optima Packaging Group GmbH (Germany), HOF Enterprise Group (Germany), Martin Christ Gefriertrocknungsanlagen GmbH (Germany), and Millrock technology, Inc. (U.S.)