April 24, 2020
According to the research report titled ‘Global Capsule Filling Equipment Market Research Report 2020’, available with Market Study Report LLC, worldwide capsule filling equipment market was worth USD 210.3 million in 2020 and is presumed to expand with a CAGR of 4.7% during the study period, generating USD 291.2 million by the year 2026.
Capsule filling equipment, as the name suggests is used for encapsulation of substances such as drugs and medications. The equipment has various features including frequency conversion, speed regulation, touch panel operation and microcomputer programmable controller which help in remotely completing the separation, positioning, locking and filling of the capsule.
Increasing awareness pertaining to the benefits of capsules like higher drug absorption rates, tamper-resistant, tasteless, and quick reaction along with medical advancements are major factors driving the growth of capsule filling equipment industry. The device is widely used by biological and pharmaceutical companies, hence robust expansion of such industries is fueling the market size.
Based on product landscape, automatic capsule filling equipment market segment witnessed 82% of total sales in 2018 and is expected to register similar growth during the forecast period. Inclination towards automatic filling equipment owing to better efficiency, precision, and hygiene is aiding the segmental growth. These equipment not only eliminate the labor cost but also improve the production output.
Elaborating on the application spectrum, pharmaceutical company segment held 75% revenue share in 2018 and is presumed to expand continuously during the estimated timeframe. Rising adoption of capsule filling equipment in labs along with booming pharmaceutical sector are prime factors favoring the market outlook.
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As per the regional scope, Asia-Pacific capsule filling equipment market is projected to witness a lucrative growth rate through 2026. High concentration of key industry players in China, growing pharmaceutical sector, rising prevalence of various health disorders are promoting the business scenario in APAC.
Major contenders in worldwide capsule filling equipment industry are Adinath International, Zhejiang Fuchang Machinery, Hanlin Hangyu Industrial, Karnavati Engineering, Fette Compacting, Feton, Chin Yi Machinery, Qualicaps, MG2, Anchor Mark, Lonza (Capsugel), ACG Worldwide, IMA, Schaefer Technologies, Sejong, Bosch Packaging Technology and Mettler Toledo.
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