- Freeze drying equipment, for all purposes, mean machinery or devices that are utilized in the drying out procedure of unpreserved materials. The procedure is executed to conserve these materials without freezing them. Freeze drying eradicates moisture from products, thus preventing the spread of bacteria or fungi.
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The freeze drying equipment market has gained impetus and is all set to expand in the years to come. The expansion of the market is credited to escalating demand for these equipment in the industries of pharmaceuticals and food.
With vast opportunities arising from leather tanning, the freeze drying equipment market is likely to witness considerable growth in the years ahead.
Freeze drying may also refer to an effective procedure of drying unsteady, watery and heat responsive products across different industry verticals. In the medical industry, freeze drying is majorly utilized in pharmaceuticals and manufacture of biotech products. The worldwide freeze drying equipment market can be studied with respect to the forecast period of 2014 to 2019. It was projected to have gathered an income of around USD 16 billion in 2012.
The market is likely to augment further at about 10.5 percent CAGR during 2013 to 2019. It is anticipated to observe a size of almost USD 31 billion by 2019. The global freeze drying equipment market is also driven forward by yet another factor. This includes rising demand for food conservation.
Boosting demand for flowers and leathers and presence of huge prospectives in environment-friendly and taxidermy-burials are also estimated to push the sales of the market. Moderately higher installation costs of applications would decelerate the pace of the freeze drying equipment market and prevent it from developing further. The worldwide market can be fragmented on the basis of three categories.
These are applications, products and geographical regions.
The application sectors of the freeze drying equipment market are food processing, pharmaceuticals, surgical procedures, biotechnology, leather preservation and flower conservation. Food processing occupied about 35 percent share in 2012. The said share was the highest and anticipated to dominate the freeze drying equipment market till 2019. The sector of biotechnology is predicted to expand most swiftly in the future. It is projected to witness around 11.2 percent CAGR during 2012 to 2019.
The freeze drying equipment market can be sliced on the strength of products into laboratory, benchtop, industrial, mobile and general purpose. Out of all these, the sector of industrial occupied the utmost market share in 2012. It produced nearly 45 percent of the overall income. Industrial is also likely to notice enhanced demand from the industries of pharmaceuticals and food processing. Mobile is expected to remain the most speedily growing sector in the coming years.
Out of the four regions the freeze drying equipment market is segmented into, North America emerged the leader in 2012. It captured about 30 percent share. Europe was the second biggest region. Asia Pacific is likely to be the most rapidly developing freeze drying equipment market in the years to come.
Information Source: Grand View Research
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