BCC Research Forecasts the Market for Lyophilization Equipment and Services to Reach $28.7 Billion in 2018
8/5/2013 8:39:10 AM
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Wellesley, MA (PRWEB) August 03, 2013 -- In the new report, LYOPHILIZATION EQUIPMENT AND SERVICES: TECHNOLOGIES AND GLOBAL MARKETS (Report Code: IAS077A) from BCC Research (http://www.bccresearch.com), the global market for lyophilization equipment and services was valued at $15.9 billion in 2012. The report forecasts total market value to reach $17.6 billion in 2013 and $28.7 billion in 2018, after increasing at a five-year compound annual growth rate (CAGR) of 10.4%.
Lyophilization is used in life sciences, while freeze-drying is used in other industries and is synonymous with lyophilization. Both processes are essentially the same. In principle, the process uses a vacuum to rapidly evaporate moisture from the core material while at the same time keeps the materials frozen to preserve its essential properties. For pharmaceutical or biotechnology products, this is critical to maintain the function and integrity of the drug or biomolecule. For food or other industries, it is essential to preserve the freshness of the product and prevent spoilage.
BCC Research presents a breakdown of the market for lyophilization equipment and services by geography and by sector in this report. The U.S. and Europe (especially Germany) hold the majority share of the market, both in equipment production and contract manufacturing organization (CMO) services. As per the report, China is gaining market share rapidly largely due to IMA Life Pharmaceutical Systems, the largest manufacturer of lyophilization equipment in China. The report also discusses new markets that are emerging in the BRIC countries (Brazil, Russia, India, and China) as well as in the so-called Next 11 (N-11) countries (Bangladesh, Egypt, Indonesia, Iran, South Korea, Mexico, Nigeria, Pakistan, Philippines, Turkey, and Vietnam).
BCC Research has performed a sector analysis in this report. According to this analysis, the three biggest sectors within the lyophilization market are the food industry, pharmaceuticals (including biotechnology and biopharma), and the chemical industry.
The entry of new products and technologies is increasing the demand for injectable biotech drugs and expanding the vaccine market. Both the vaccine market and the injectable biotech drugs markets rely upon lyophilization equipment and services. Additionally, lyophilization equipment and services are crucial for achieving commercial viability of almost 60% of biotherapeutics.
BCC Research forecasts that the market will see exponential growth due to the development of new drugs in the biologics area over the next five years. This will increase the need for lyophilization equipment, offsetting shortfalls in other areas. For many companies, this will mean updating or modifying existing equipment to meet this demand. In many cases, these companies will have to add new equipment to meet the demand and not overburden their existing equipment.
The report is an invaluable tool for business planners, acquisitions specialists, licensing strategists, product managers, market research analysts, investors, investor consultants, and anyone interested in the lyophilization equipment and services markets, its products, its industry participants, and its future.
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