Lyophilization Equipment and Services Market to Expand at 8.50% CAGR Driven by Developing Healthcare Sector in Emerging Economies

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.

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Lyophilization equipment and services find application in several industries including biopharmaceuticals, nutraceuticals, pharmaceuticals, and diagnostics. The demand for lyophilization equipment and services from the pharmaceutical industry was the highest in 2013 owing to its significant role in the manufacturing division.

The worldwide market for lyophilization equipment and services is segmented on the basis of geography into North America, Latin America, Europe, Asia Pacific, the Middle East, and Rest of the World. Europe dominated the global market in 2013, driven by a number of factors such as increase in number of clinical trials, presence of skilled workforce, and development of advanced technologies to enhance product portfolio.

Asia Pacific, on the other hand, is anticipated to be the fastest developing regional segment of the lyophilization equipment and services market. The rapid growth in the region can be attributed to rising adoption of novel technologies, favorable government policies, fast-growing consumer market, presence of skilled labor, and growing scope of contract manufacturing activities in countries such as India, Thailand, China, Malaysia, and Vietnam.

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