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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North America Slated to Lead Global Market all through 2024
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.
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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.
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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.
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