Capsule Filler Market: Opportunity Analysis and Industry Forecast Upto 2024
Albany, NY -- (SBWire) -- 10/04/2017 --Transparency Market Research observes that the top three players held a whopping share of 91.6% in the global capsule filler market in 2015. Bosch Packaging Technology, IMA Pharma, and Qualipcaps have been leading the overall market for a significant time period. These world leaders boast an experience and expertise in handling sophisticated designs and manufacturing machines to manage large-scale production.
"These companies are expected to focus on research and development to deliver innovative products with new materials that will introduce next generation of capsule products," states the main author of this research report. According to the research report, the global capsule filler market is expected to reach a valuation of US$845.1 mn by the end of 2024 as compared to US$557.2 mn in 2015. The overall market is expected to rise at a CAGR of 4.9% between 2016 and 2024.
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On the basis of equipment, the global market is segmented into manual, semi-automatic, visual inspection, imprinting, and weight inspection. The report suggests that the automatic capsule filling equipment is expected to dominate the global market throughout the forecast years. The segment is expected to acquire a share of 80.3% by the end of 2024. Analysts predict that the increasing demand for capsules as a preferred form of dosage is expected to augment the demand for automatic capsule filling equipment amongst capsule manufacturers.
In terms of geography, the global capsule filling market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Of these regions, North America is expected to lead the global market as it is poised to reach a valuation of US$275.1 mn by the end of 2024.
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The growing demand for capsules as the uptake of nutraceuticals continues to be on the rise with changing perceptions toward health lifestyle are is expected to drive the global capsule filler market. The demand for nutraceuticals has considerably spiked the consumption of over-the-counter pharmaceutical products in recent years, leading to a noticeable rise in the demand for health supplements in the form of capsules.
Capsules are a preferred form mode for consuming health supplements because they are not disintegrated by gastric acids and thus enter the small intestine, where they dissolve to perform desired actions. The growing demand for capsules in the emerging economies as against traditional medicines and regional products is also expected to propel the growth of capsule filler market.
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Furthermore, the cost-effective production process of capsules has also set in motion the steady adoption of capsule fillers. The emerging economies are expected to provide lucrative opportunities to the global market as this equipment allows reduced development time. Thus, the speed-to-market, innovative product development, and dosage flexibility have benefitted market's growth rate.
However, the global capsule filler market does face a few challenges. Currently, the key challenge in the global capsule filler market is the high prevalence of diseases and disorders that require a different type of administration. For instance, some diseases cannot be treated through the intake of capsules as they require drugs that are given in an intravenous form. Furthermore, capsules cannot be prescribed to patients who cannot swallow. All of these factors collectively are expected to hamper the growth of the global capsule filler market.
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