Pharmaceutical Drying Equipment Market to Hit USD 8.18 Billion by 2029 with 7.1% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 24, 2024 /PRNewswire/ — The global pharmaceutical drying equipment market is projected to reach USD 8.18 billion by 2029 from USD 5.80 billion in 2024, growing at a CAGR of 7.1% during the forecast period 2024-2029. Innovation in technology and regulatory changes are changing the landscape of the pharmaceutical drying equipment market. Automation is improving process efficiency by offering real-time monitoring and control of critical components like temperature and humidity. This also helps in reducing energy consumption and operational costs while increasing the quality of the product. Another significant trend is the move away from batch procedures and toward continuous drying technologies, which offer more uniformity and production scalability. Additionally, the growing demand for customized equipment tailored to specific drug formulations, especially in the biologics sector, is shaping the market. In addition, manufacturers are using new innovative machinery which complies with strict rules set forth by government agencies such as the FDA and EMA. Consequently, equipment safety, accuracy, and traceability are guaranteed. Compliance with Good Manufacturing Practices (GMP) is prioritized in these criteria. As environmental restrictions get stronger, eco-friendly technology, such as low-energy dryers, are being introduced at a rate that satisfies global sustainability objectives. These elements work together to influence the way the pharmaceutical drying equipment market is developing.
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Based on type, the pharmaceutical drying equipment market is segmented into vacuum dryers, spray dryers, freeze dryers, fluidized bed dryers, and other dryers. Among these, in 2023, freeze dryer segment the fastest growing segment in the pharmaceutical drying equipment market. This is due to the increasing investment by the key players in the pharmaceutical drying equipment. The key players are investing more to expand their manufacturing facilities. For instance, GEA is investing EUR 70 million (USD 69.39 million) in the development of a new pharmaceutical technology center for freeze dryers in Elsdorf, located in the German state of North Rhine-Westphalia. The new facility, covering approximately 40,000 m², is expected to be completed by 2024. Such investments are increasing the segmental growth in the market throughout the forecast period.
Based on scale of operation, the pharmaceutical drying equipment market is segmented into industrial-scale equipment, pilot-scale equipment, and laboratory-scale equipment. Among these the industrial scale equipment segment accounts for the largest share in the pharmaceutical drying equipment market
in 2023, owing to the increasing demand for large-scale drug production, especially with the rise of biologics and personalized medicines. Pharmaceutical firms need more efficient and scalable drying equipment to keep up with the growing demand for their products. Industrial-scale equipment streamlines industrial operations while supporting regulatory compliance by delivering more automation and precision. The move to continuous manufacturing and the need for energy-efficient solutions have driven up the cost of larger, more complex drying equipment for firms.
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Some of the prominent players operating in the market include 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).
GEA Group (Germany):
GEA Group is a leading global supplier of systems and components to the food, beverage, and pharmaceutical industries. The company operates across five divisions: Separation & Flow Technologies, Liquid & Powder Technologies, Food & Healthcare Technologies, Farm Technologies, and Heating & Refrigeration Technologies. Among these, GEA provides a range of specialized products and services. The Liquid & Powder Technologies division includes brewing systems, liquid processing, aseptic and non-aseptic filling and packaging, concentration, fermentation, crystallization, purification, drying, powder handling and packaging. Moreover, the Food & Healthcare Technologies division offers equipment for processing solid dosage forms, including highly potent drugs, freeze-drying technology for liquids, catering to the pharmaceutical drying equipment market.
ATS Corporation (US):
ATS Corporation company involves in specializing in automated manufacturing and assembly system design, development, and maintenance. It also provides a wide range of automation equipment and testing solutions. ATS Corporation’s life sciences division is a major area of concentration, offering solutions for chemicals, pharmaceuticals, medical devices, and radiopharmaceuticals. ATS is a prominent player in the pharmaceutical drying equipment market through Scientific Products Inc., a subsidiary company that provides specialized equipment and systems that are designed to meet the demands of the life sciences sector. This business unit enables ATS to provide extremely specialized goods that satisfy the exacting specifications of pharmaceutical production procedures. ATS Corporation operates on a global scale, with 65 manufacturing facilities and over 85 offices across North America, Europe, Southeast Asia, and Oceania.
Hosakawa Micron Group (Japan):
The Hosokawa Micron Group is a prominent supplier of technologies for powder. The company serves a broad spectrum of industries, including paint, fertilizers, food, cosmetics, and medicines. The company specializes in the development, design, production, and marketing of systems and equipment for a range of applications, such as material size reduction, mixing, drying, agglomerating, collecting, feeding, discharging, transporting, and measuring powders. The company operates via two business segments: the powder-related business and the plastic thin film-related business. The powder-related business is the core focus of the company, where they manufacture and sell equipment for crushing, classification, mixing, and drying. Through this segment company caters to pharmaceutical drying equipment market The Hosokawa Micron Group generates revenue across several regions, including Japan, America, Europe, Asia, and others.
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