Global Capsule Filling Machine Market Forecast to 2028 - COVID-19 Impact and Analysis - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Capsule Filling Machine Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Manual Capsule Filling Machines, Semi-Automatic Capsule Filling Machines, and Fully Automatic Capsule Filling Machines), Application (Pharmaceutical, Cosmetics, Others), and Capacity" report has been added to ResearchAndMarkets.com's offering.
The capsule filling machine market is projected to reach US$ 290.92 million by 2028 from US$ 211.32 million in 2021; it is estimated to grow at a CAGR of 4.7% during 2021-2028.
The report highlights trends prevailing in the market and factors driving its growth. The growth of the market is attributed to the advancement in capsule filling machine and the rising prevalence of chronic diseases. However, the high cost incurred in capsule filling machine production hampers the market growth.
The global medical device industry is witnessing continuous innovations and technological advancements, which, in turn, drives the healthcare sector worldwide and supports the global capsule filling machine market growth. According to the International Trade Administration (ITA), the US Department of Commerce is the world's largest market for medical devices. Its overall valuation was US$ 156 billion in 2017, which is expected to reach US$ 208 billion by 2023.
Medical device exports from the US exceeded US$ 43 billion in 2018. Globally, the US medical device firms are renowned for their technological advancements and innovative products. In the country, there are over 6,500 medical device companies, most of which are small and medium-sized enterprises (SMEs).
Additionally, Germany is Europe's leading importer and exporter of medical devices, and it manufactures high-quality medical equipment. Almost all leading US firms, such as GE Healthcare, Johnson & Johnson, Becton Dickinson, Abbvie, Stryker, Zimmer, 3M, McKesson, Cardinal Health, Henry Schein, and Medline, have a presence in Germany. The rising markets in the developing countries are presenting lucrative prospects to market participants for the expansion of their firms. Most of the market players are focusing on countries, such as China, India, and the UAE, due to the surging incidence of chronic diseases, expanding use of the latest medical technology in hospitals, and the increasing awareness about sophisticated medical technologies.
The global capsule filling machine market, based on type, is segmented into manual capsule filling machines, semi-automatic capsule filling machines, and fully automatic capsule filling machines. The fully automatic capsule filling machines segment held the largest share of the market in 2021. Moreover, the same segment is anticipated to register the highest CAGR in the market during the forecast period. By application, the market is segmented into pharmaceutical, cosmetics, and others. In 2021, the pharmaceutical segment held the largest share of the market.
Moreover, the segment is expected to register the highest CAGR of 5.0% during 2021-2028 due to the rising use of capsule filling machine in the pharmaceutical industries for filling the empty capsules as the demand of capsule dosage form. Based on capacity, the market is segmented into small (up to 50,000 capsules), medium (50,000 capsules to 100,000 capsules per hour), and high (more than 100,000 capsules per hour). In 2021, the small (up to 50,000 capsules) segment held the largest share of the market. Moreover, the segment is expected to register the highest CAGR of 5.0% from 2021 to 2028 due to the rising use of small (up to 50,000 capsules) due to its convenience across the world.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
- Rising Chronic Disease Prevalence
- Advancement in Capsule filling Machine
- Expanding Medical Device Industry
- High Cost Incurred in Capsule Filling Machine Production
- Emerging Markets
- Escalating R&D Investments by Pharmaceutical Companies
- Capsugel, Inc (A subsidiary of Lonza Group AG)
- Dott. Bonapace & C. srl
- Schaefer Technologies
- Syntegon Technology GmbH
- Torpac Inc.
- Zhejiang Fuchang Machinery Co., Ltd
- Beijing Hanlin Hangyu Technology Development Inc.
- M2G S.r.l
- I.M.A. Industria Macchine Automatiche S.p.A.
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