Global Capsule Filler Market: Snapshot
Capsules are popularly prescribed by doctors for treating various conditions amongst the pediatric and geriatric patients. The increasing consumption of capsules is attributable to their ease of administration. The demand for capsules is also expected to be on the rise as the drugs do not disintegrate due to gastric acids and thus enter the small intestine, where they dissolve to perform the desired action. All of these factors are expected to propel the growth of the global capsule filler market, which offers a special type of equipment to manufacture capsules. Against this backdrop, the global capsule filler market is expected to reach a valuation of US$845.1 mn by the end of 2024 as against US$557.2 mn in 2015. Between the forecast years of 2016 and 2024, the global market is projected to expand at a CAGR of 4.9%.
The growing awareness about leading a healthy lifestyle and ensuring intake of proper nutrition has augmented the demand for nutraceuticals in recent years. As these health supplements sold in the form of capsules, their consumption has had a positive impact on the growing market of capsule filler. Analysts predict that the demand for capsule fillers will continue to be high during the forecast period due to stringent regulations set by various governments to ensure certain standard while filling capsules. Thus, the demand for precision, efficiency, hygiene, and speed have boosted the growth of the overall market.
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Automatic Equipment Shows Steady Progress as Manufacturers Seek Precision
On the basis of equipment, the global market is segmented into manual capsule filling equipment, semi-automatic capsule filling equipment, and automatic capsule filling equipment. Of these, the automatic capsule filling equipment segment dominated the global market in 2015. The segment is estimated to retain its stance in the coming years due to the growing need for automation in production processes. Furthermore, automation also eases the process of large-scale production, which has also provided this segment a significant boost.
On the basis of material, the global capsule filler market is divided into powder capsule filling equipment, liquid capsule filling equipment, granules capsule filling equipment, and tablet capsule filling equipment. Of these, the powder capsule filling equipment held the largest share in the overall market in 2015. The segment is estimated to continue its dominance as the majority of the medicines are best administered with powder in capsules form.
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North America to Remain Leading Segment as Consumption of Capsules Spikes
In terms of geography, the global capsule filling equipment market is categorized into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. In 2015, North America emerged as the leading geographical segment. This region showed steady growth in the demand for capsule filling equipment due to high consumption of capsules across the region. All throughout the forecast period, the region is expected to retain its dominance as the prescription of capsules continues to be on the upside due to the high prevalence of pulmonary diseases.
The key operating players in the global capsule filler market are Qualicaps Inc., Bosch Packaging Technology, and Glenvale Packaging among others. The leading players held a share of over 90% in the overall market in 2015, making the competitive landscape fairly consolidated. These companies are expected to focus on research and development of innovative products in the coming years.
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