Market Trends of Pharmaceutical Equipment Industry
Lyophilizer Segment is Expected to be Dominant in Pharmaceutical Equipment Market Over the Forecast Period
A lyophilizer, also known as a freeze dryer, is a device used in laboratory and pharmaceutical settings for preserving and dehydrating perishable materials. The process of lyophilization involves freezing the material, then subjecting it to a high vacuum so that the frozen water in the material sublimes, bypasses the liquid phase, and goes directly from a solid to a gas. This leaves the material in a dry, preserved state that can be stored for long periods without spoilage. Factors such as increasing investment in the pharmaceutical industry coupled with the initiatives by key market players are expected to increase segment growth over the forecast period. For instance, in May 2022, PCI Pharma Services invested USD 100 million in an expansion of capabilities and capacities to its manufacturing facility in Bedford for aseptic liquid fill-finish and sterile lyophilization technology. Also, in May 2022, OPTIMA invested in a state-of-the-art facility to get integrated pharmaceutical lines into production more safely and quickly. Optima Pharma is further expanding the successful CSPE process for fast and safe production start-up of integrated filling lines with isolators and freeze dryers. The rising acceptance of biopharmaceutical manufacturing equipment over the years is expected to increase investment in lyophilizers for the drug manufacturing process thus increasing segment growth over the forecast period.
Also, it is anticipated that throughout the course of the forecast period, the utilization of lyophilizer devices in manufacturing facilities will increase. For instance, to complement its lyophilization research investigations, Berkshire Sterile Manufacturing bought a new IMA lab-scale lyophilizer in April 2022. Thus, it is anticipated that such expenditures by leading market players will fuel industry sector expansion.
North America has been Dominant in the Pharmaceutical Equipment Market and Similar is Expected Over the Forecast Period
North America is expected to have a significant share of the market owing to factors such as rising research and development activities, the rising approval of biological products, and the strong presence of industry players in the region. For instance, the Florida-based Mettler-Toledo Product Inspection company introduced a new track & trace and Checkweighing combined solution for small and mid-sized enterprises in the pharmaceutical and cosmetics sectors in November 2022. With the support of the Mettler-Toledo CT33 system, operators may accomplish compliance, enhanced brand protection, quality control, and supply chain traceability by having a deep level of integration between mark & verify, serialization, and precision weighing capabilities. The launches of such lyophilization equipment are expected to propel the segment growth during the forecast period.
Similarly, investment by the government in the region is another factor in market growth. For instance, as per the press release by the Government of Canada, in March 2021, it invested more than USD 1 billion in advancing the research and development in pharmaceuticals, biomanufacturing, and vaccines. The government is also exhibiting its continued support for made-in-Canada vaccines and therapeutics to counter COVID-19 with a USD 150 million investment to assist companies in the initial stages of research and development. Likewise, 6 vaccine candidates and 7 therapeutic candidates already received advisory support and funding totaling more than USD 37 million from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). The remaining USD 113 million will be used to advance the most promising of these candidates to the next stage of clinical development, the news release stated. Thus, increasing initiatives such as product launches and investments are expected to increase market growth over the forecast period.
