Visiongain has published a new report entitled the Pharmaceutical Spray Drying Market Report 2021-2031: Forecasts by Product Type (Rotary Atomizer SD, Nozzle Atomizer SD, Fluidized SD, Centrifugal SD, Others), by Cycle Type (Closed Loop, Open Loop), by Stage Type (Single Stage, Two Stage, Multistage), by Flow Type (Co Current, Counter Current, Mixed) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
The global pharmaceutical spray drying market was valued at US$ 720.8 million in 2020 and is projected to grow at a CAGR of 4.32% during the forecast period 2021-2031. The global market is expected to reach US$ 859.4 million in the year 2025 whereas it is anticipated to reach US$ 1134.2 million in 2031. The rising prevalence of oncological disorders, lung infections, rising demand for customized drugs coupled with new orphan diseases discoveries, are few of the major reasons responsible for development of pharmaceutical spray drying market.
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How Has COVID-19 Had a Negative Impact on the Pharmaceutical Spray Drying Market?
The overpowering theme of 2020 has been the COVID-19 pandemic which has had a negative impact on the world economy and on all industrial sectors. The global pharmaceutical spray drying market has also registered some negative impact due to the pandemic. The impact on the pharmaceutical spray drying market due to COVID-19 pandemic was a resultant of factors like postponement in placing orders due to cash crunch or fund diversions, travel restrictions, inefficiency in the supply chains, along with interruptions in process of equipment installation and commissioning. Besides aforesaid, another important aspect which was impacted by COVID-19 was clinical trials. Majority of trials were either paused or fully cancelled. This impacted the research and development process of drug discovery and thus impacted the underlying pharmaceutical spray drying market.
How this Report Will Benefit you?
Visiongain's exhaustive report on global pharmaceutical spray drying provides 334 tables and 314 charts/graphs. Our new research report is beneficial for any stakeholder who intends to gain in depth insights into the global pharmaceutical spray drying market in terms of qualitative and quantitative aspects. The report also provides detailed analysis segment wise with COVID-19 impact analysis. Our new report will be highly beneficial for decision making and company positioning as it not only gives global and broad regional analysis but also provides in-depth insights of more than ten countries in various geographic regions. The companies can benefit from our new report by being better positioned for upcoming opportunities and potential threats by being well informed and resultantly taking actions to mitigate those threats. The comprehensive analysis of major players will help the companies to understand their position vis-a-vis their competitors and help in better decision making by the higher management.
What are the Current Market Drivers?
The growing demand for customized medicines will be one of the major drivers propelling growth of global pharmaceutical spray drying market. The report produced by Visiongain regarding global precision medicine market estimated the CAGR of 12% in coming years. Many industry stalwarts believe that next major disruption waiting to take healthcare industry by storm is precision medicine since it encompasses matching together extensive understanding of everyone with the available treatment options available. With the flexibility provided by the spay drying technique, it can be envisioned as one of the techniques for preparing customized medicines and cures.
Rising prevalence of conditions like cancer, tuberculosis, lung infections will also boost the growth in the global pharmaceutical spray drying market. Upcoming area of spray drying research is drug delivery in a controlled manner for various medical conditions like cancer, tuberculosis, inflammation, asthma, and other lung infections.
Where are the Market Opportunities?
A plethora of opportunities lies for the pharmaceutical spray drying market owing to its potential for customization. The flexibility to alter process parameters for different particle size, particle density and distribution is what makes this technology fascinating. These customizations can be achieved using various modelling techniques and computational fluid dynamics. The full potential of these techniques is yet to be realized which offers immense opportunities for development of pharmaceutical spray drying market.
Growing interest and enthusiasm among the healthcare faculty worldwide in alternative medicine systems across the globe also presents an opportunity for the development of pharmaceutical spray drying market. Spray drying technique is one of the novel techniques to isolate phytopharmaceuticals and make them commercially viable by increasing shelf life and by providing suitable route of administration.
The major players functioning in the pharmaceutical spray drying market are GEA, SPX Flow, Fluid Air (Spraying Systems Co.), Buchi, Advanced Drying Systems, New Avm Systech Private Limited, Acmefil Engineering Systems Private Limited, Hemraj Enterprises, Saka Engineering Systems Private Limited, Freund-Vector Corporation, Yamato Scientific Co. Ltd, European Spray Drying Technologies, Lemar Drying Engineering, G Larsson Starch Technology Ab, Shandong Tianli Energy Co., Ltd.
The players functional in the pharmaceutical Spray Drying market employ multitude of strategies to stay relevant. These strategies include product upgrade and new product lunch which is result of extensive R&D activities, acquiring niche companies, expansion of facilities, among others. For instance, GEA plans expansion of its production capacities with opening of a production plant in Poland. The conglomerate has proposed this in 2020. Freund-vector, in 2020 acquired Cos mec, an Italian designer and manufacturer of industrial solutions powder handling and granulation to further strengthen its position in the European markets.
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