Lyophilization equipment and services have been extensively utilized for biopharmaceuticals in the production of parenteral formulations. The method of lyophilization is aimed at prolonging the shelf-life of formulations, increase their efficacy, and facilitate their storage and transport. Over the past decade, the lyophilization equipment and services market is witnessing rising application of the methodology in food industry. Also called, freeze drying, food processing companies are increasingly been adopting this for improving the shelf-life of a wide range of food. They are being used in keeping the flavor and freshness of food products for a long time.
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Strides in Food Testing Analysis Expand Potential
Advances in drying techniques have bolstered the performance of lyophilization equipment, thus benefitting production environments in the medical and food industries. More prominently, the adoption of automation in secondary drying process has helped make the system completely configurable, making the process repeatable. Growing adoption of lyophilization services for food testing and quality analysis around the world is boosting the lyophilization equipment and services market.
Extensive Uptake Likely in Pharmaceutical Industry in Next Few Years
The lyophilization equipment and services market will likely to earn sizable revenues from the uptake of lyophilization equipment and deployment of services in the pharmaceutical industry, especially for bulk APIs and drug products. With rapid adoption of good manufacturing practices (cGMP), the adoption will get a robust fillip in the next few years. Growing investments of drug makers on contract manufacturing of vaccines and complex biologics have spurred the demand for lyophilization equipment and services. A fast expanding line of biological therapeutic products in developing regions has boosted the demand for lyophilization equipment and services. These equipment are increasingly being deployed by contract manufacturing organizations to keep the efficacy of complex injectables.
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Over the past few years, market players have been putting strategic bets on collaborations of various types. Of all, they are expending resources into licensing agreements. Further, top players are spending sizably on making acquisitions to consolidate their geographic hold in the lyophilization equipment and services market.