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Capsule Filler Market - Global Scenario, Raw Material and Consumption Trends, Analysis, Size, Share and Forecasts to 2024
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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.
North America Slated to Lead Global Market all through 2024
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.
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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.
Improving Lifestyles Raise Demand for Enhancement Capsules
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.
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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. 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.
Intravenous Medication to Hamper Growth of Global Market
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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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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