Freeze Drying Technology Market Size, Share, Growth, and Industry Growth by Type (Tray-Style Freeze Drying, Manifold Freeze Drying, Rotary Freeze Drying/Shell Freeze Drying, and Freeze Drying Technology) By Application (Food & Beverages, Biological Engineering, Pharmaceutical, Materials Science and Other) Regional Forecast By 2032

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Freeze Drying Technology Market Report Overview

The global freeze drying technology market size is estimated to be USD 5.8 billion in 2023 & the market is projected to touch USD 10.8 billion by 2032, exhibiting a CAGR of 7.2% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with freeze drying technology experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Freeze drying technology is also known as cryodesiccation or lyophilization. It is a low-temperature dehydration process that removes ice by sublimation. Further, it involves freezing the product and lowering the temperature.

Growing demand for food preservation, rapid technological advancements in the cryodesiccation method, and huge growth in contract manufacturing and lyophilization services. These factors are estimated to fuel market growth. High demand for manufacturing new biologic drugs and injectable formulations, which is estimated to fuel market growth in the forthcoming years. Huge adoption of the product in the healthcare sector and pharmaceuticals sector is estimated to fuel market growth. On the contrary, the rapid utilization of alternative drying technique in the biotechnology and pharmaceuticals sectors are anticipated to harm market growth. Also, difficulties to achieve ideal moisture levels in order to maintain product quality is estimated to harm market growth in the upcoming years.

COVID-19 Impact: High Demand to Store Vaccines during the Pandemic to Push Market Growth

The sudden outbreak of the COVID-19 pandemic boosted the market growth. Rising demand for freezing equipment coupled with a huge need to preserve vaccines and medicines. Expansion of the medical sector and ongoing R&D activities. Further, the increased focus of researchers on developing classier processes that combine freeze drying technology with biochemistry, electron microscopy, and sophisticated surgery is foreseen to extra drive the market in the coming years.

LATEST TRENDS

"Increased Demand for Food Preservation to Fuel Market Growth"

Growing demand for food preservation among consumers is estimated to fuel market growth. Huge need for storing several food products such as vegetables, fruits, meat, herbs, coffee, culinary flavorings, and ice creams, which are preserved using freeze drying technology. It is a quick and easy method. The major advantage of the procedure it has the ability to produce whole, clean, and nutritious food ingredients. Further, offer food products accessible and versatile. These factors of the product in the food preservative sector are estimated to fuel market growth.  It is a low-temperature dehydration process that removes ice by sublimation. Further, it involves freezing the product and lowering the temperature, which attracts more consumers over the forecast period.

Freeze Drying Technology Market Segmentation

• By Type

Based on type, the market is divided into, manifold freeze drying, tray-style freeze drying, rotary freeze drying/shell freeze drying, and freeze drying technology.

Tray-style freeze drying is expected to be the top part of the segmentation type.

• By Application

Based on the application, the market is divided into, biological engineering, pharmaceutical, materials science, food & beverages, and others.

Food & beverages are expected to be the top part of application segmentation.

DRIVING FACTORS

"Huge Demand from Pharmaceutical and Medical Sectors to Foster Market Growth"

Increased demand from the pharmaceutical and medical sectors is estimated to fuel market growth. Rising demand to store medicines and vaccines and preserve them for longer periods of time is anticipated to fuel market growth in the forthcoming years.  rapid technological advancements in the cryodesiccation method, and huge growth in contract manufacturing and lyophilization services. These factors are estimated to fuel market growth. High demand for manufacturing new biologic drugs and injectable formulations, which is estimated to fuel market growth in the forthcoming years. The product is extensively used to preserve biologicals such as enzymes, proteins, viruses & bacteria, and penicillin. These factors are estimated to drive freeze drying technology market growth

"Increased R&D activities and Growing Urbanization to Fuel Market Growth"

Increasing R&D activities and growing urbanization is estimated to fuel market growth. Rapid urbanization and huge surging consumption is anticipated to fuel market growth.  The growing preference of consumers toward the custom-built food sector is predicted to accelerate market growth. Increased need for the product in leather preservation, surging usage in surgical procedures, and flower preservation. Escalating awareness about various benefits of the product, such as air-drying and enhanced efficiency pertaining to desiccant drying, is likely to drive the market.

RESTRAINING FACTORS

"Rapid Utilization of Alternative Dying Techniques in Biotechnology & Pharmaceuticals to Harm Market Growth"

The rapid utilization of alternative drying technique in the biotechnology and pharmaceuticals sectors are anticipated to harm market growth. Also, difficulties to achieve ideal moisture levels in order to maintain product quality is estimated to harm market growth in the upcoming years.

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Freeze Drying Technology Market Regional Insights

"Huge Establishment of Pharmaceutical Companies in North America to Drive Market Share "

North America is estimated to account for the largest freeze drying technology market share owing to the huge establishment of pharmaceutical companies. Growing demand for food preservation, rapid technological advancements in the cryodesiccation method, and huge growth in contract manufacturing and lyophilization services. These factors are estimated to fuel market growth. High demand for manufacturing new biologic drugs and injectable formulations, which is estimated to fuel market growth in the forthcoming years.

Europe is accounted to hold a prominent market share due to the presence of leather tanneries, which are used highly in the leather tanning process. This factor is anticipated to surge market growth.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

LIST OF TOP FREEZE DRYING TECHNOLOGY COMPANIES

• Azbil Corporation (Japan)
• GEA Group (Germany)
• HOF Enterprise Group (Germany)
• Industria Macchine Automatiche
• Labconco Corporaton (U.S.)
• Martin Christ (Germany)
• Millrock Technology (U.S.)
• Optima Packaging (Germany)
• SP Industries (U.S.)
• Tofflon Science and Technology (China)
• SERAIL

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.