Pharmaceutical Spray Drying: Current Market Landscape and Future Growth Opportunities
Spray drying, which is already established in the food and chemical sector, is also considered to be a rapid, cost-effective, and scalable process for the production of dry powder formulations of pharmacological material. Owing to characteristics, such as reproducibility and its continuous mode of operation, the technique has become very popular in the pharmaceutical and biotechnology industry. It offers several advantages over alternate drying technologies, such as lyophilization (characterized by high dependence on cold chain for storage and logistics, which is prone to failure due to human error) and vacuum foam drying (characterized by volumetric restrictions due to the properties of foam, which limits the quantity of sample that can be dried in a single run) that are currently deployed in the pharmaceutical industry.
A Variety of Spray Dryers Are Commercially Available to Meet Specific Requirements
Over 80 spray dryers, each with its proprietary set of characteristics and associated benefits, are currently available in the market.
Choice of a Spray Dryer is Critical to Obtain Desired Properties of the End Product
Selection of process parameters, such as type of nozzle, inlet / outlet temperatures, and the atomizing gas, is critical to impart desired properties to the spray dried product
Widening Product Landscape Highlights the Increasing Demand
Most spray dryer manufacturers have been able to establish a wide clientele across multiple regions and have built up sizeable product portfolios
Several Companies are Now Providing Spray Drying as a Contract Service
The market landscape is also characterized by the presence of several contract service providers that offer spray drying of pharmaceuticals across different scales of operation.
Acquisitions, in the Recent Past, Have Been Used as a Tool to Strengthen Service Portfolio
The increase in number of acquisitions reflects the growing interest; in fact, over 15 acquisitions, valued between USD 100 million and USD 5 billion, have been recorded in the last three years
Now, it is Increasingly Becoming Possible to Spray Dry a Product Anywhere Across Globe
A closer look at the market landscape reveals a well-distributed opportunity; we could identify service providers and manufacturers based in Africa, Oceania and South America as well
Owing to Multiple Factors, Stakeholders are Optimistic About Future Prospects of the Market
Spray drying has emerged as a viable and versatile formulation technology; stakeholders agree that its applications in the pharmaceutical industry are vast
Overall, we Expect the Market to Register a Double Digit Growth Rate …
The future of the spray drying market offers significant promise; the market is likely to grow at an annualized rate of 20% between 2018 and 2028
… With Technology Acceptance Gaining Momentum in the Long Run
Over time, the gradual evolution of this technology is likely to result in increased acceptance across different geographies, industry segments and nozzle types
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