Albany, NY -- (SBWIRE) -- 09/30/2014 -- According to a new market report published by Transparency Market Research titled "Freeze Drying Equipment (Laboratory, Bench Top, Mobile, Industrial and General Purpose) Market for Food Processing, Pharmaceuticals, Surgical Procedures, Biotechnology and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global freeze drying equipment market was worth USD 15.9 billion in 2012 and is expected to reach USD 30.98 billion by 2019, growing at a CAGR of 10.5% from 2013 to 2019.

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Industrial freeze dryers showed the highest demand in 2012 and accounted for about 45% of the market share. Supported by ever-growing pharmaceutical and food processing industries, these freeze dryers are expected to remain as the major market segment in 2019 and are expected to grow at a CAGR of 10.3% between 2013 and 2019. The demand for mobile and benchtop freeze dryers is expected to grow at faster rates than other segments. General purpose freeze dryers are also expected to show healthy growth numbers by 2019.

Key application segments analyzed in this study include food processing, pharmaceuticals, biotechnology, surgical procedures and others. Food processing was the largest segment and accounted for about 35% of the market share in 2012. This is a mature segment and is expected to show healthy growth numbers by 2019. Biotechnology is expected to be the fastest growing segment between 2013 and 2019. Other applications such as leather conservation, flower preservation, taxidermy and eco-friendly burials are expected to gather pace in the freeze-drying equipment market in the coming few years.

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North America dominated the global market for freeze-drying equipment in 2012. With over 30% global market share in terms of revenue, North America is the leading consumer of the equipment. Europe accounted for about 28% of the total revenue share in 2012. The global freeze-drying equipment market has witnessed significant capacity addition during the recent past. Asia Pacific is a lucrative market for new plant establishments and capacity expansions and is expected to show the highest growth numbers between 2013 and 2019.

The global market for freeze-drying equipment is highly fragmented with top six companies accounting for close to 25% of the total market. Thermo Fisher Scientific Inc., GEA Niro, Telstar S.A., I.M.A. S.p.A, Labconco Corp., SP Industries Inc.and others are some of the major manufacturers of freeze-drying equipment.

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Freeze drying equipment market: Product segment analysis

- Laboratory freeze drying equipment
- Benchtop freeze dryers
- Mobile freeze dryers
- Industrial freeze dryers
- General purpose freeze dryers

Freeze drying equipment market: Application segment analysis

- Food processing
- Pharmaceuticals
- Surgical procedures
- Biotechnology
- Others (including leather conservation, flower preservations, etc.)

Freeze drying equipment market: Regional analysis

- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)

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