Albany, NY -- (SBWIRE) -- 01/11/2019 -- Lyophilization process is used by pharmaceutical and biotech manufacturing industries in order to expand the life span and reduce the damage to sensitive products such as enzymes, antibodies, blood plasma, proteins and vaccines. Various technological advancements and increasing risk of contamination of high value pharmaceutical products are few of the factors contributing to the growth of the global lyophilization equipment and services market.
It is vital for every pharmaceutical organization to maintain the function and efficacy of the drug molecule and prevent it from damage. Furthermore, growth in the number of commercially available vaccines and injectables for various disease conditions and rising demand of contract manufacturing and outsourcing activities in the biopharmaceutical industry is also expected to accentuate the growth of the global lyophilization equipment and services market in the coming few years.
The global lyophilization equipment and services market is segmented by equipment type into bench-top lyophilizers, tray lyophilizers, rotary lyophilizers and freeze drying microscopes. Tray lyophilizers accounted for the largest share of more than 45% of the overall lyophilization equipment market in 2013. The segment is also expected to maintain its lead during the forecast period through 2014 to 2020. Factors that have contributed towards the large market size of tray lyophilizers are vast usage in large scale production systems and long-term stability of pharmaceutical products.
Request for Sample Copy of Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1502
Furthermore, lyophilization services are classified into cycle development, aseptic filling and bulk lyophilization. Among these mentioned products, bulk lyophilization accounted for largest market share in 2013 and is expected to grow at an approximate CAGR of over 6.5%. The major factors responsible for such growth of this segment are cost affordability and large volume drying.
Similarly, based on applications, the lyophilization equipment and services market is segmented into pharmaceuticals, biopharmaceuticals, diagnostics and nutraceuticals. The pharmaceuticals segment captured the largest market share in 2013 of the total lyophilization equipment and services market. Lyophilization plays an important role in pharmaceutical manufacturing industry as heat-sensitive products are dried at low temperature without hampering its function and physical structure.
Geographically, Europe constituted the largest market share for the global lyophilization equipment and services market in 2013. Factors that have augmented the growth of the lyophilization market in Europe are development of novel technologies pertaining to lyophilization in order to enhance the product portfolio and increased number of clinical trial activities. In addition, ample presence of skilled workforce is also propelling the growth of global lyophilization equipment and services market in Europe.
However, Asia Pacific is predicted to foresee the highest growth rate over the forecast period. The rationale behind such high growth has been attributed to favorable government policies, increased adoption of novel technologies and fast growing consumer market. Moreover, increasing scope of contract manufacturing activities in emerging nations such China, India, Malaysia, Thailand and Vietnam and presence of skilled labor would also boost the growth of the global lyophilization equipment and services market in Asia Pacific in the next few years.
Request Report Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1502
Currently, the lyophilization equipment and services market is highly fragmented due to the involvement of many established and emerging biopharmaceutical companies. Few of the major players operating in the global lyophilization equipment and services market are Lyophilization Technology, Inc., Baxter BioPharma Solutions, GenScript, Inc., ZIRBUS Technology GmbH, Alliance Healthcare Services, Irvine Pharmaceutical Services, Aseptic Technologies, LSNE Contract Manufacturing, W.L. Gore & Associates, Inc., and Biopharma Technologies Ltd.
About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Contact Us
Transparency Market Research
State Tower,
90 State Street, Suite 700
Albany, NY 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: www.transparencymarketresearch.com