Global Freeze Drying Equipment Market Report and Forecast 2024-2032

Global Freeze Drying Equipment Market Outlook

The global freeze drying equipment market size reached approximately USD 2.46 billion in 2023. The market is further projected to grow at a CAGR of 9.3% between 2024 and 2032, reaching a value of USD 5.47 billion by 2032.

Key Trends in the Market

Freeze drying equipment, also known as lyophilisation equipment are used for removing moisture from products to preserve its properties and structure. The freeze drying process extends the shelf life of the product and makes the transportation process more convenient.

• Advancements in the freeze drying equipment technology such as development of equipment with data management software, control systems, and monitoring sensors are improving their overall performance, automation capabilities, and efficiency. Thus, resulting in an increased freeze drying equipment market demand across the globe.

• The requirement for freeze drying equipment for preservation of various food products such as meat, herbs, fruits and vegetables, food flavourings, coffee, and ice creams are rising. This increased requirement can be attributed to their ability to prolong the shelf life of the food products.

• Demand for freeze drying equipment from pharmaceutical sector is increasing owing to their wide applications in the formulation of vaccines and drugs. Factors including increasing expenditure on healthcare and growing geriatric population are responsible for boost in demand for vaccines, biologics, and drugs, among others.

Global Freeze drying equipment Market Analysis

Based on product, the market is divided into dryer and accessories. By scale of operation, the market is categorised into industrial scale freeze dryer, laboratory scale freeze dryer, and pilot scale freeze dryer. On the basis of application, the market is classified into biotechnology, food processing, pharmaceuticals, and surgical procedures, among others. Based on region, the freeze drying equipment market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Thermo Fisher Scientific Inc.

• GEA Group Aktiengesellschaft

• Azbil Corporation

• Tofflon Science and Technology Co., Ltd.

• Labconco Corporation

• Cuddon Freeze Dry

• HOF Sonderanlagenbau GmbH

• Martin Christ Gefriertrocknungsanlagen GmbH

• Millrock Technology, Inc.,

• Harvest Right, LLC.

• OPTIMA packaging group GmbH

• Others

Market Share by Application

Food processing applications account for a significant freeze drying equipment market share owing to the rising requirement of the equipment for preservation of food products. The utilisation of freeze drying equipment helps in retaining the flavour as well as the nutritional value of the food products, thus extending their shelf life. The ability of the equipment to cause very little cell damage while maintaining the original shape and size of the food is yet another major factor for the increased demand for food processing applications across the globe.

Market Share by Region

North America holds a significant share of the market owing to changing food preferences of the consumers and presence of strict food safety and security regulations in the region. The increased demand for easy and quick meals due  is another major factor boosting the requirement for freeze drying equipment in North America.

Additionally, rising investments on the research and development activities in the pharmaceutical sector along with increased healthcare spending and emergence of biosimilars and biologics is supporting the freeze drying equipment market growth in Europe.

Competitive Landscape

Thermo Fisher Scientific Inc. was founded in 1956 and is headquartered in Massachusetts, United States. The company supplies medical equipment, reagents and consumables, and analytical instruments, among other software and services to help tackle complex analytical challenges in various laboratories.

GEA Group Aktiengesellschaft was established in 1881 and has its headquarters located in Düsseldorf, Germany. The company supplies systems and components to pharmaceuticals and food and beverage industries across the globe.

Azbil Corporation is an automation machinery manufacturing company that was founded in 1906 and is headquartered in Tokyo, Japan. The company specialises in building automation, factory automation, digital transformation, and industrial automation, among others.

Other freeze drying equipment market players include Tofflon Science and Technology Co., Ltd., Labconco Corporation, Cuddon Freeze Dry, HOF Sonderanlagenbau GmbH, Martin Christ Gefriertrocknungsanlagen GmbH, Millrock Technology, Inc., Harvest Right, LLC., and OPTIMA packaging group GmbH, among others.

Key Highlights of the Report