The global Pharmaceutical Drying Equipment market is projected to reach USD 8.18 billion by 2029 from USD 5.80 billion in 2024, at a CAGR of 7.1% during the forecast period. This is due to growing prevalence of chronic diseases such as diabetes, cardiovascular diseases, cancer, is leading to increase in demand for the pharmaceutical drugs. To meet this increased demand for the medicines the pharmaceutical manufacturing facilities are expanding, consequently increasing the demand for the pharmaceutical equipment dryers. However, the increased demand for the refurbished dryers in pharmaceutical industry is major restraint to the market. Additionally, Higher maintenance of the pharmaceutical drying equipment is major challenge for the market growth. But, the increasing competition in pharmaceutical manufacturing industry due to loss of various drugs' market exclusivity and high growth potential of emerging markets is expected to present profitable growth opportunities for pharmaceutical drying equipment market players over the forecast period of 2024-2029.
This affordability makes it an ideal choice during R&D, minimizing financial risk while optimizing production methods. Additionally, the growing trend of outsourcing manufacturing to Contract Development and Manufacturing Organizations (CDMOs) has further driven the demand for pilot-scale equipment. CDMOs use these systems to streamline the transition from R&D to large-scale production, ensuring efficient and scalable solutions for pharmaceutical companies. As more companies rely on CDMOs to bring new drugs to market, the need for pilot-scale equipment continues to rise, contributing to its rapid growth.
Europe holds the second-largest position in the pharmaceutical drying equipment market. This is due to the presence of key industry players such as GEA Group (Germany), I.M.A. Industria Macchine Automatiche (Italy), Syntegon Technology GmbH (Germany), and Mechatech Systems Ltd (UK). These major European players are making significant investments in R&D to create cutting-edge, innovative equipment. Furthermore, the European region's strong pharmaceutical manufacturing base, established regulatory framework, and focus on technological advancements all contribute to its strong market position. In Europe, the need for pharmaceutical drying equipment is being driven by innovation and industry leadership.
The spray dryer segment of pharmaceutical drying market to hold largest position forecast period.
Based on the type, the spray dryer segment is anticipated to hold largest share position during forecast period in pharmaceutical drying equipment market. This is due to its versatility, efficiency, and ability to enhance product quality. It offers improved bioavailability by producing dust-free, free-flowing, and easily re-dispersible powders, making it ideal for thermoplastic, hygroscopic, and heat-sensitive products. Spray dryers are essential for maintaining quality of active pharmaceutical ingredient. As spray dryers can handle a wide variety of product types, including granulated and agglomerated forms, without heat deterioration. Its popularity in the sector is also a result of its small size, which guarantees energy-efficient operations and makes it an affordable option for large-scale pharmaceutical production.The pilot-scale equipment segment is the fastest growing segment in pharmaceutical drying equipment market.
Based on scale of operation, the pharmaceutical drying equipment market is segmented into industrial-scale equipment, pilot-scale equipment, and laboratory-scale equipment. The pilot-scale equipment segment is expected to grow at the highest CAGR due to its pivotal role in pharmaceutical research and development (R&D). With increasing development of new medications, pilot-scale equipment allows manufacturers to test formulations and processes on a smaller, more cost-effective scale before full-scale industrial production.This affordability makes it an ideal choice during R&D, minimizing financial risk while optimizing production methods. Additionally, the growing trend of outsourcing manufacturing to Contract Development and Manufacturing Organizations (CDMOs) has further driven the demand for pilot-scale equipment. CDMOs use these systems to streamline the transition from R&D to large-scale production, ensuring efficient and scalable solutions for pharmaceutical companies. As more companies rely on CDMOs to bring new drugs to market, the need for pilot-scale equipment continues to rise, contributing to its rapid growth.
Europe accounted for the second largest share of the pharmaceutical drying equipment market by region.
The global pharmaceutical drying equipment market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is the second largest regional market for pharmaceutical drying equipment, whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.Europe holds the second-largest position in the pharmaceutical drying equipment market. This is due to the presence of key industry players such as GEA Group (Germany), I.M.A. Industria Macchine Automatiche (Italy), Syntegon Technology GmbH (Germany), and Mechatech Systems Ltd (UK). These major European players are making significant investments in R&D to create cutting-edge, innovative equipment. Furthermore, the European region's strong pharmaceutical manufacturing base, established regulatory framework, and focus on technological advancements all contribute to its strong market position. In Europe, the need for pharmaceutical drying equipment is being driven by innovation and industry leadership.
Abreakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
- By Designation: C-level - 50%, Director-level - 30% and Others - 20%
- By Region: North America - 38%, Europe - 26%, Asia Pacific - 15%, Latin America - 11%, and Middle east and Africa - 10%
- Note 1: Note: Companies are classified into tiers based on their total revenue. As of 2023, Tier 1 = More than USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 = Less than USD 1.00 billion.
Note 2: C-level primaries include CEOs, CFOs, COOs, and VPs.
Note 3: Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
The major players operating in the pharmaceutical drying equipment market market are GEA Group (Germany), ATS Corporation (US), Hosokawa Micron Group (Japan), Freund Corporation (Japan), I.M.A. Industria Macchine Automatiche S.p.A. (Italy), Syntegon Technology GmbH (Germany), BUCHI Labortechnik AG (Switzerland), OPTIMA packaging group GmbH (Germany), Mechatech Systems Ltd (Netherland), and BEW Engineering Limited (India).Research Coverage
This report studies the pharmaceutical drying equipment market based on type, scale of operation,, end user and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.This report provides insights on the following pointers:
- Analysis of Key divers (The expansion of pharmaceutical manufacturing facilities to drive market growth, The increased demand for biopharmaceuticals to drive market, The rapid growth of the contact manufacturing companies to drive market), restraints (The demand for refurbished drying equipment is restraining the market), Challenge (Higher maintenance of the pharmaceutical drying equipment is major challenge for the market), opportunity (Increasing competition in pharmaceutical manufacturing industry due to loss of various drugs' market exclusivity, High growth potential of emerging markets)
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the pain management devices market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the pharmaceutical drying equipment market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the pain management devices market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Table of Contents
1 Introduction
2 Research Methodology
4 Premium Insights
5 Market Overview
6 Pharmaceutical Drying Equipment Market, by Type
7 Pharmaceutical Drying Equipment Market, by Scale of Operation
8 Pharmaceutical Drying Equipment Market, by End-user
9 Pharmaceutical Drying Equipment Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Appendix
List of Tables
List of Figures
Companies Mentioned
- Gea Group Aktiengesellschaft
- Ima Industria Macchine Automatiche Spa
- Ats Corporation
- Hosokawa Micron Group
- Freund Corp.
- Syntegon Technology GmbH
- Büchi Labortechnik AG
- Optima
- Mechatech Systems Ltd.
- Bew Engineering
- Zirbus Technology GmbH
- Spx Flow, Inc.
- European Spraydry Technologies
- Yamato Scientific Co. Ltd.
- Saka
- Ilshin Biobase
- Okawara Mfg. Co. Ltd.
- Changzhou Changjiang Drying Equipment Co. Ltd.
- Bachiller
- Millrock Technology, Inc.
- Martin Christ Gefriertrocknungsanlagen GmbH
- Labconco
- O’Hara Technologies
- Coolvacuum Technologies, Sl
- Shachi Engineering Pvt. Ltd.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 227 |
Published | October 2024 |
Forecast Period | 2024 - 2029 |
Estimated Market Value ( USD | $ 5.8 Billion |
Forecasted Market Value ( USD | $ 8.18 Billion |
Compound Annual Growth Rate | 7.1% |
Regions Covered | Global |
No. of Companies Mentioned | 25 |