Summary

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. “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. A breakdown 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 = >USD 10.00 billion, Tier 2 = USD 1.00 billion to USD 10.00 billion, and Tier 3 =

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Table of Contents

1 INTRODUCTION 23
1.1 STUDY OBJECTIVES 23
1.2 MARKET DEFINITION 23
1.3 STUDY SCOPE 24
1.3.1 SEGMENTS AND REGIONS COVERED 24
1.3.2 INCLUSIONS & EXCLUSIONS 25
1.3.3 YEARS CONSIDERED 25
1.3.4 CURRENCY CONSIDERED 26
1.4 STAKEHOLDERS 26
1.5 SUMMARY OF CHANGES 26
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
2.1.1 SECONDARY DATA 28
2.1.1.1 Key objectives of secondary research 29
2.1.1.2 Key secondary sources 29
2.1.1.3 Key data from secondary sources 30
2.1.2 PRIMARY DATA 30
2.1.2.1 Key primary sources 31
2.1.2.2 Key objectives of primary research 31
2.1.2.3 Key data from primary sources 32
2.1.2.4 Key industry insights 32
2.2 MARKET SIZE ESTIMATION 33
2.2.1 SUPPLY-SIDE ANALYSIS (REVENUE SHARE ANALYSIS) 33
2.2.2 TOP-DOWN APPROACH 34
2.2.3 COMPANY PRESENTATIONS AND PRIMARY INTERVIEWS 34
2.2.4 DEMAND-SIDE ANALYSIS (USING PHARMACEUTICAL DRYING EQUIPMENT ADOPTION) 34
2.3 DATA TRIANGULATION 37
2.4 MARKET RANKING ANALYSIS 38
2.5 STUDY ASSUMPTIONS 39
2.6 RISK ASSESSMENT 39
2.7 RESEARCH LIMITATIONS 39
3 EXECUTIVE SUMMARY 40
 
4 PREMIUM INSIGHTS 43
4.1 PHARMACEUTICAL DRYING EQUIPMENT MARKET OVERVIEW 43
4.2 NORTH AMERICA: PHARMACEUTICAL DRYING EQUIPMENT MARKET,
BY END USER, 2023 44
4.3 GEOGRAPHIC SNAPSHOT OF PHARMACEUTICAL DRYING EQUIPMENT MARKET,
2024–2029 45
4.4 PHARMACEUTICAL DRYING EQUIPMENT MARKET: REGIONAL MIX, 2022–2029 46
4.5 PHARMACEUTICAL DRYING EQUIPMENT MARKET: DEVELOPED VS. EMERGING MARKETS, 2024 VS. 2029 (USD MILLION) 46
5 MARKET OVERVIEW 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 47
5.2.1 DRIVERS 48
5.2.1.1 Expansion of pharmaceutical manufacturing facilities 48
5.2.1.2 High demand for biopharmaceuticals 48
5.2.1.3 Rapid growth of contract manufacturing and development companies 48
5.2.2 RESTRAINTS 49
5.2.2.1 Increased demand for refurbished drying equipment 49
5.2.3 OPPORTUNITIES 49
5.2.3.1 Increased market competition and high demand for generic and biosimilar drugs 49
5.2.3.2 High growth potential in emerging economies 50
5.2.4 CHALLENGES 50
5.2.4.1 Need for regular maintenance and high associated costs 50
5.3 INDUSTRY TRENDS 50
5.3.1 AUTOMATION AND DIGITALIZATION 50
5.3.2 ENVIRONMENTAL SUSTAINABILITY 50
5.4 TECHNOLOGY ANALYSIS 51
5.4.1 KEY TECHNOLOGIES 51
5.4.1.1 Automation and control systems 51
5.4.1.2 Heat transfer technology 51
5.4.1.3 Vacuum technology 51
5.4.2 COMPLEMENTARY TECHNOLOGIES 51
5.4.2.1 High-efficiency particulate air (HEPA) filtration technology 51
5.4.2.2 Temperature control systems 52
5.4.2.3 Desorption technology 52
5.4.3 ADJACENT TECHNOLOGIES 52
5.4.3.1 Moisture sensors and monitoring systems 52
5.4.3.2 Air distribution systems 52
5.4.3.3 Particle size analysis technology 52
 
5.5 PORTER’S FIVE FORCE ANALYSIS 53
5.5.1 INTENSITY OF COMPETITIVE RIVALRY 54
5.5.2 BARGAINING POWER OF SUPPLIERS 54
5.5.3 BARGAINING POWER OF BUYERS 54
5.5.4 THREAT OF SUBSTITUTES 54
5.5.5 THREAT OF NEW ENTRANTS 54
5.6 KEY STAKEHOLDERS AND BUYING CRITERIA 55
5.6.1 KEY STAKEHOLDERS IN BUYING PROCESS 55
5.6.2 KEY BUYING CRITERIA 56
5.7 REGULATORY LANDSCAPE 56
5.7.1 REGULATORY ANALYSIS 57
5.7.1.1 North America 57
5.7.1.1.1 US 57
5.7.1.1.2 Canada 57
5.7.1.2 Europe 57
5.7.1.3 Asia Pacific 57
5.7.1.4 Latin America 58
5.7.1.5 Middle East & Africa 58
5.7.2 REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 58
5.8 PATENT ANALYSIS 61
5.8.1 PATENT PUBLICATION TRENDS IN PHARMACEUTICAL DRYING EQUIPMENT MARKET 61
5.8.2 INSIGHTS: JURISDICTION AND TOP APPLICANT ANALYSIS 61
5.9 TRADE ANALYSIS 64
5.9.1 IMPORT DATA FOR HS CODE 8419 64
5.9.2 EXPORT DATA FOR HS CODE 8419 65
5.10 PRICING ANALYSIS 65
5.10.1 INDICATIVE SELLING PRICE OF DRYERS, BY PRODUCT 66
5.10.2 INDICATIVE SELLING PRICE OF DRYERS, BY REGION 66
5.11 KEY CONFERENCES AND EVENTS, 2024–2025 68
5.12 UNMET NEEDS 69
5.13 END-USER EXPECTATIONS 70
5.14 IMPACT OF AI/GENERATIVE AI ON PHARMACEUTICAL DRYING EQUIPMENT MARKET 71
5.14.1 KEY USE CASES 72
5.15 ECOSYSTEM ANALYSIS 72
5.16 CASE STUDY ANALYSIS 73
5.16.1 CASE STUDY 1: IMPROVED VACUUM PRESSURE TO REDUCE DRYING TIME, INCREASE QUALITY, AND SAVE PRODUCTION COSTS 73
5.16.2 CASE STUDY 2: OPTIMIZED PARTICLE SIZE DISTRIBUTION FOR HIGH-POTENCY API PRODUCTION 74
5.16.3 CASE STUDY 3: INNOVATIVE CONTAINMENT SOLUTIONS FOR HIGH-POTENCY APIS TO ENHANCE NUTSCHE FILTER DRYER PERFORMANCE 74
5.17 SUPPLY CHAIN ANALYSIS 75
5.18 ADJACENT MARKET ANALYSIS 76
5.18.1 SPRAY DRYING EQUIPMENT MARKET 76
5.19 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 77
5.20 INVESTMENT AND FUNDING SCENARIO 77
6 PHARMACEUTICAL DRYING EQUIPMENT MARKET, BY TYPE 79
6.1 INTRODUCTION 80
6.2 SPRAY DRYERS 80
6.2.1 ABILITY TO MAINTAIN STABILITY OF THERMALLY SENSITIVE COMPOUNDS THROUGH RAPID DRYING TO PRESERVE DRUG EFFICACY 80
6.3 FREEZE DRYERS 82
6.3.1 RISING DEMAND FOR LYOPHILIZED PRODUCTS TO DRIVE MARKET 82
6.4 FLUIDIZED BED DRYERS 84
6.4.1 COST-EFFECTIVENESS AND UNIFORM DRYING TO SPUR DEMAND IN PHARMACEUTICAL MANUFACTURING FACILITIES 84
6.5 VACUUM DRYERS 86
6.5.1 VACUUM DRYERS TO MINIMIZE THERMAL DEGRADATION AND PROVIDE STABILITY TO HEAT-SENSITIVE MATERIALS 86
6.6 OTHER DRYERS 87
7 PHARMACEUTICAL DRYING EQUIPMENT MARKET, BY SCALE OF OPERATION 90
7.1 INTRODUCTION 91
7.2 INDUSTRIAL-SCALE EQUIPMENT 91
7.2.1 RISING INVESTMENTS IN HIGH-QUALITY MANUFACTURING TO AUGMENT MARKET GROWTH 91
7.3 PILOT-SCALE EQUIPMENT 92
7.3.1 INCREASED PHARMACEUTICAL R&D INVESTMENTS AND FOCUS ON EFFECTIVE QUALITY CONTROL IN LARGER OPERATIONS TO DRIVE MARKET 92
7.4 LABORATORY-SCALE EQUIPMENT 94
7.4.1 COST-EFFECTIVENESS, EASY OPERATION, AND LOW MAINTENANCE NEEDS TO FUEL MARKET GROWTH 94
8 PHARMACEUTICAL DRYING EQUIPMENT MARKET, BY END USER 95
8.1 INTRODUCTION 96
8.2 PHARMACEUTICAL AND BIOTECH COMPANIES 96
8.2.1 INCREASED INVESTMENTS FOR BETTER PRODUCTION EFFICIENCY IN PHARMACEUTICAL INDUSTRY TO DRIVE MARKET 96
8.3 CONTRACT DEVELOPMENT AND MANUFACTURING ORGANIZATIONS 97
8.3.1 INCREASED OUTSOURCING OF RESEARCH AND MANUFACTURING PROCESSES BY PHARMA COMPANIES TO PROPEL MARKET GROWTH 97
8.4 RESEARCH ACADEMIES AND UNIVERSITIES 98
8.4.1 RISING DEMAND FOR ADVANCED LABORATORY AND RESEARCH FACILITIES IN ACADEMIC SETTINGS TO DRIVE MARKET 98
9 PHARMACEUTICAL DRYING EQUIPMENT MARKET, BY REGION 100
9.1 INTRODUCTION 101
9.2 NORTH AMERICA 102
9.2.1 MACROECONOMIC OUTLOOK FOR NORTH AMERICA 105
9.2.2 US 105
9.2.2.1 US to dominate North American pharmaceutical drying equipment market during forecast period 105
9.2.3 CANADA 107
9.2.3.1 Robust pharmaceutical sector and advancements in drug development to aid market growth 107
9.3 EUROPE 109
9.3.1 MACROECONOMIC OUTLOOK FOR EUROPE 111
9.3.2 GERMANY 112
9.3.2.1 Increased R&D investments by key players and technological advancements to support market growth 112
9.3.3 FRANCE 114
9.3.3.1 Rising investments in bioproduction capacities to spur market growth 114
9.3.4 ITALY 116
9.3.4.1 Growing demand for biologics and biopharmaceuticals to boost market growth 116
9.3.5 UK 118
9.3.5.1 Increased government investments in pharmaceuticals and clinical trials to propel market growth 118
9.3.6 SPAIN 120
9.3.6.1 Increasing collaborations between drying equipment manufacturing companies to aid market growth 120
9.3.7 REST OF EUROPE 122
9.4 ASIA PACIFIC 124
9.4.1 MACROECONOMIC OUTLOOK FOR ASIA PACIFIC 127
9.4.2 CHINA 127
9.4.2.1 Technological advancements and strategic expansions by key international players to augment market growth 127
9.4.3 JAPAN 129
9.4.3.1 High investments in manufacturing capabilities and increased geriatric population to aid market growth 129
9.4.4 INDIA 132
9.4.4.1 Increasing investments in manufacturing facilities to propel market growth 132
9.4.5 AUSTRALIA 134
9.4.5.1 Rising demand for pharmaceuticals and increasing advancements in drug formulations to drive market 134
9.4.6 SOUTH KOREA 136
9.4.6.1 Increased popularity of CDMOs for pharmaceutical production to fuel market growth 136
9.4.7 REST OF ASIA PACIFIC 138
9.5 LATIN AMERICA 140
9.5.1 MACROECONOMIC OUTLOOK FOR LATIN AMERICA 142
9.5.2 BRAZIL 142
9.5.2.1 Advanced biologics sector and increased demand for biosimilars to drive market 142
9.5.3 MEXICO 144
9.5.3.1 Burgeoning pharmaceutical industry and favorable trade agreements to propel market growth 144
9.5.4 REST OF LATIN AMERICA 146
9.6 MIDDLE EAST & AFRICA 148
9.6.1 MACROECONOMIC OUTLOOK FOR MIDDLE EAST & AFRICA 150
9.6.2 GCC COUNTRIES 150
9.6.2.1 Expansion of pharmaceutical manufacturing companies to drive market 150
9.6.3 REST OF MIDDLE EAST & AFRICA 152
10 COMPETITIVE LANDSCAPE 156
10.1 INTRODUCTION 156
10.2 KEY PLAYER STRATEGY/RIGHT TO WIN 156
10.2.1 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN PHARMACEUTICAL DRYING EQUIPMENT MARKET 156
10.3 REVENUE ANALYSIS, 2021–2023 157
10.4 MARKET SHARE ANALYSIS, 2023 158
10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 160
10.5.1 STARS 160
10.5.2 EMERGING LEADERS 160
10.5.3 PERVASIVE PLAYERS 160
10.5.4 PARTICIPANTS 161
10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 162
10.5.5.1 Company footprint 162
10.5.5.2 Type footprint 163
10.5.5.3 Scale of operation footprint 163
10.5.5.4 End-user footprint 164
10.5.5.5 Region footprint 165
10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 166
10.6.1 PROGRESSIVE COMPANIES 166
10.6.2 RESPONSIVE COMPANIES 166
10.6.3 DYNAMIC COMPANIES 166
10.6.4 STARTING BLOCKS 166
10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023 168
 
10.7 COMPANY VALUATION AND FINANCIAL METRICS 170
10.7.1 FINANCIAL METRICS 170
10.7.2 COMPANY VALUATION 170
10.8 BRAND/PRODUCT COMPARISON 171
10.9 COMPETITIVE SCENARIO 171
10.9.1 PRODUCT LAUNCHES 172
10.9.2 DEALS 172
10.9.3 EXPANSIONS 173
11 COMPANY PROFILES 174
11.1 KEY PLAYERS 174
11.1.1 GEA GROUP AKTIENGESELLSCHAFT 174
11.1.1.1 Business overview 174
11.1.1.2 Products offered 175
11.1.1.3 Recent developments 177
11.1.1.3.1 Deals 177
11.1.1.4 MnM view 177
11.1.1.4.1 Right to win 177
11.1.1.4.2 Strategic choices 177
11.1.1.4.3 Weaknesses and competitive threats 178
11.1.2 IMA INDUSTRIA MACCHINE AUTOMATICHE SPA 179
11.1.2.1 Business overview 179
11.1.2.2 Products offered 180
11.1.2.3 MnM view 181
11.1.2.3.1 Right to win 181
11.1.2.3.2 Strategic choices 181
11.1.2.3.3 Weaknesses and competitive threats 181
11.1.3 ATS CORPORATION 182
11.1.3.1 Business overview 182
11.1.3.2 Products offered 184
11.1.3.3 Recent developments 185
11.1.3.3.1 Product launches 185
11.1.3.3.2 Deals 185
11.1.3.3.3 Expansions 185
11.1.3.4 MnM view 186
11.1.3.4.1 Right to win 186
11.1.3.4.2 Strategic choices 186
11.1.3.4.3 Weaknesses and competitive threats 186
11.1.4 HOSOKAWA MICRON GROUP 187
11.1.4.1 Business overview 187
11.1.4.2 Products offered 188
11.1.4.3 MnM view 189
11.1.4.3.1 Right to win 189
11.1.4.3.2 Strategic choices 189
11.1.4.3.3 Weaknesses and competitive threats 189
11.1.5 FREUND CORP. 190
11.1.5.1 Business overview 190
11.1.5.2 Products offered 192
11.1.6 SYNTEGON TECHNOLOGY GMBH 193
11.1.6.1 Business overview 193
11.1.6.2 Products offered 193
11.1.6.3 Recent developments 194
11.1.6.3.1 Deals 194
11.1.7 BÜCHI LABORTECHNIK AG 195
11.1.7.1 Business overview 195
11.1.7.2 Products offered 195
11.1.7.3 Recent developments 196
11.1.7.3.1 Product launches 196
11.1.8 OPTIMA 197
11.1.8.1 Business overview 197
11.1.8.2 Products offered 197
11.1.9 MECHATECH SYSTEMS LTD. 199
11.1.9.1 Business overview 199
11.1.9.2 Products offered 200
11.1.10 BEW ENGINEERING 201
11.1.10.1 Business overview 201
11.1.10.2 Products offered 202
11.2 OTHER PLAYERS 203
11.2.1 ZIRBUS TECHNOLOGY GMBH 203
11.2.2 SPX FLOW, INC. 204
11.2.3 EUROPEAN SPRAYDRY TECHNOLOGIES 205
11.2.4 YAMATO SCIENTIFIC CO., LTD. 206
11.2.5 SAKA 207
11.2.6 ILSHIN BIOBASE 208
11.2.7 OKAWARA MFG. CO., LTD. 209
11.2.8 CHANGZHOU CHANGJIANG DRYING EQUIPMENT CO., LTD. 210
11.2.9 BACHILLER 211
11.2.10 MILLROCK TECHNOLOGY, INC. 212
11.2.11 MARTIN CHRIST GEFRIERTROCKNUNGSANLAGEN GMBH 213
11.2.12 LABCONCO 214
11.2.13 O’HARA TECHNOLOGIES 215
11.2.14 COOLVACUUM TECHNOLOGIES, SL 216
11.2.15 SHACHI ENGINEERING PVT. LTD. 217
12 APPENDIX 218
12.1 DISCUSSION GUIDE 218
12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 223
12.3 CUSTOMIZATION OPTIONS 225
12.4 RELATED REPORTS 225
12.5 AUTHOR DETAILS 226