Pharmaceutical Spray Drying Market Size (2024 - 2029)

Pharmaceutical Spray Drying Market Analysis

The Pharmaceutical Spray Drying Market size is estimated at USD 2.05 billion in 2024, and is expected to reach USD 2.94 billion by 2029, growing at a CAGR of 7.47% during the forecast period (2024-2029).

The initial phase of the pandemic has had a substantial impact on the growth of the pharmaceutical spray drying market owing to the significant decline in manufacturing processes and restricted demand and supply of drugs. The government of several countries has reported that active pharmaceutical ingredients are in short supply because of the COVID-19 pandemic. Likewise, according to the Pharmaceutical Export Promotion Council (PHARMEXCIL), in 2021, the COVID-19 pandemic resulted in a massive spike in medicine prices due to increased demand for drugs to treat a variety of diseases, including HIV, cancer, epilepsy, and malaria.

However, the recovery from the shortage and increasing use of pharmaceutical spray drying for COVID-19 drugs, drug applications, and vaccines have positively impacted the market. For instance, according to the study titled, 'Spray freeze-dried niclosamidenanocrystals embedded dry powder for high dose pulmonary delivery,' published in February 2023, niclosamide(NCL) has shown potential applications for treating COVID-19. However, the development of new formulations for effective niclosamide(NCL) delivery is still challenging. In such cases, niclosamide-embedded dry powder for inhalation (NeDPI) was fabricated by a novel spray freeze-drying technology, making it easier for drug delivery.

Therefore, such instances indicate that the market initially witnessed slow growth owing to supply chain disruption. However, with the recovery from shortage and increasing use of pharmaceutical spray drying for COVID-19 drugs and vaccines, the market witnessed a positive impact during the pandemic and is expected to continue the upward trend over the forecast period.

The increasing prevalence of chronic diseases, technological advancements, improvements in the stability of products, and increasing research and development spending are the major factors propelling market growth.

According to the journal published in February 2022 by PharmTech, the increased development of biologic-based drugs has fueled the demand for spray drying as an alternative for the manufacturing and processing of biologics instead of the more traditional liquid or lyophilized solid forms. The new pharmaceutical spray drying methods offer remarkable control over the properties of the manufactured powders, with significant downstream advantages. With adequate process development, spray drying can also enable amorphous solid dispersion (ASDs) formulations that are directly compressible, thus bypassing the need for granulation prior to tableting. Thus, owing to such technological advancements, the majority of pharmaceutical companies are adopting spray drying over traditional methods.

In addition, increasing cases of chronic diseases are also propelling market growth. For instance, according to the data published by the International Diabetes Federation in 2021, around 537.0 million adults are living with diabetes, and by 2030, around 643.0 million people are expected to live with diabetes. It also reported that 3 out of 4 adults live with diabetes, and around 1 out of 2 adults (240.0 million) are living with undiagnosed diabetes. Similarly, according to the report published by the International Diabetes Federation in 2021, more than 1.2 million adolescents and children are living with type 1 diabetes.

Furthermore, according to the American Cancer Society Colorectal Cancer Statistics in 2023, over 153,020 adults are estimated to be diagnosed with colorectal cancer in 2023 in the United States. These numbers include 106,970 new cases of colon cancer and 46,050 new cases of rectal cancer in the United States, as pharmaceutical spray drying is a technique preferred by most pharmaceutical companies to produce quality drugs. Increasing cases of chronic diseases are anticipated to boost the demand for quality drug development for treatment, which in turn may boost the demand for spray-drying techniques. Thus, the high prevalence of chronic diseases is expected to positively impact the market growth over the forecast period.

However, the high cost associated with spray drying and the requirement of experienced operators is likely to hinder the market growth over the forecast period. 

Pharmaceutical Spray Drying Industry Segmentation

As per the scope of the report, spray drying is a drying technology used in the pharmaceutical business to turn liquid or slurry into a dry or coarse powder with the help of hot gas. It is commonly used to make active pharmaceutical ingredients (APIs) in medications.

The global pharmaceutical spray drying market is segmented by application and geography. The application segment of the pharmaceutical spray drying market is further segmented into excipient production, encapsulation, enhancing bioavailability, and other applications. The geography segment is further segregated into North America, Europe, Asia-Pacific, Middle East, Africa, and South America. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally.

The report offers the value (in USD) for the above segments.