Worldwide Pharmaceutical Spray Drying Industry to 2027 - Encapsulation Segment Expects to Register a High CAGR in the Forecast Period - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Pharmaceutical Spray Drying Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Pharmaceutical Spray Drying market is projected to grow with a CAGR of 4.67% during the forecast period (2022 - 2027).
- GEA Group
- SPX Flow
- Catalent, Inc
- Fuji Chemical Industry Co., Ltd
- Nova Laboratories
- GlaxoSmithKline plc.
- Novartis AG
- Advanced Drying Systems
- Lemar Drying Engineering
Key Market Trends
Encapsulation Segment Expects to Register a High CAGR in the Forecast Period
The pharmaceutical and nutraceutical businesses utilize encapsulation technology to improve drug formulation by hiding the bitter taste or odor of drugs and delivering them in a targeted and controlled manner. The development of drugs based on biomolecules is projected to increase the demand for encapsulation to deliver active components effectively and precisely.
Various researches have been going on worldwide to explore and innovate the concept. Nano spray drying technology is also widely used in the industry as it enables the formulation of drugs with solid colloidal particles in the submicron range and it also enables the encapsulation of active ingredients in polymeric wall materials providing enhanced environmental protection stability, handling, storage, and controlled drug release properties.
In addition, active ingredients such as peptides, proteins, and DNA/RNA molecules are also encapsulated to meet the market demand for value-added products, which is also likely to increase the demand for the encapsulation segment in the coming years. According to an article published by the National Center for Biotechnology Information, in 2021, titled "APIs formulation using spray drying processes", it has been observed that the active pharmaceutical/polymer systems produced by the spray drying process have controlled particle size and density which increases the bioavailability and effectiveness of the product.
Hence, increasing drug formulation and rising demand for delivering active ingredients in a targeted and controlled manner further increase the demand for encapsulation over the forecast period.
North America is Expected to Have the Significant Market Share
North America is anticipated to have a significant share owing to the factors such as the presence of major pharmaceutical players, high demand for pharmaceutical products, technological advancement, and high pharmaceutical research and development expenditure in the region.
The increasing company focus on expansion and adopting business strategies to withhold their position in the market is likely to boost the growth of the market. For instance, in January 2022, Eurofins (Contract Development and Manufacturing Organization) announced the expansion of its existing spray dry development and production services in North America. With this expansion, Eurofins can further complement a broad range of services specializing in solubility enhancement for clinical development and small-scale commercial programs.
The high demand for pharmaceutical products in the region further increases the adoption of spray drying equipment in the pharmaceutical industry hence, contributing to the growth of the market in the coming years. For instance, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), in 2021, North America spent USD 64,357 million on its research and development expenditure in 2019.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Chronic Diseases
4.2.2 Technological Advancements and Improvements in the Stability of Products
4.2.3 Increasing Research and Development Spending
4.3 Market Restraints
4.3.1 High Cost Associated with Spray Drying
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Excipient Production
5.1.3 Enhancing Bioavailability
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/kh55n2.
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