Softgel Manufacturing Equipment Market Size, Share, Growth, And Industry Analysis By Type (Soft Capsule Encapsulation Machine, Soft Capsule Drying Systems, And Other Auxiliary Devices) By Application (Pharmaceutical, Health Supplements, And Others), Regional Insights, and Forecast From 2024 To 2031

SOFTGEL MANUFACTURING EQUIPMENT MARKET REPORT OVERVIEW

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The global softgel manufacturing equipment market size was USD 270 million in 2022 and is expected to reach USD 773.21 million by 2031, at a CAGR of 12.4% during the forecast period.

Softgels are a form of oral medicine made for easier consumption compared to traditional pills. The medicinal contents of softgel are encapsulated in a capsule made of gelatine, opacifier, plasticizers such as sorbitol or glycerine, and water. The soft gelatine capsules are hermetically sealed using softgel manufacturing equipment, which uses electromechanical components to fill the capsules. These softgel capsules are great alternatives to hard-to-swallow or bigger and bitter pills. Since most dietary supplements are softgel capsules, the machinery directly benefits pharmaceutical businesses and is crucial to producing several health supplements that are taken globally.

The development of more vaccines, particularly in the wake of the COVID-19 pandemic, is one of the primary factors driving the growth of the market for softgel manufacturing equipment in the current world. The market for softgel manufacturing equipment will experience increased demand due to better disease diagnosis techniques and ongoing, expanding research on various types of combination medications.

COVID-19 Impact: Halt In Production During Pandemic Hindered Demand

The global COVID-19 pandemic has been unprecedented and staggering, with softgel manufacturing equipment experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The COVID-19 pandemic and the market have negatively impacted numerous industries worldwide. The softgel manufacturing equipment industry was significantly changed, similar to other markets. The production of the equipment used in the manufacturing of softgel capsules was halted due to the global lockdown, which impacted the market and decreased end-user demand. The COVID-19 virus outbreak has made everyone more concerned about their health; therefore, the demand for health supplements will directly impact the need for softgel production equipment. Nevertheless, the industry is predicted to rebound quickly.

LATEST TRENDS

"Efficacy of Softgel Tested Through Clinical Trials Encourages Market Growth"

Since these capsules are quick to absorb and simple to digest, demand for them will increase relatively over the given timeframe. And at present, softgel capsules are continually being studied to determine their effectiveness in treating various ailments aside from appealing to consumers of health supplements. The safety of softgels in cancer patients who have opted out of or are under chemotherapy or chemoradiotherapy has been examined in a clinical research sponsored by InnoPharmax Inc. that was conducted in August 2018.

SOFTGEL MANUFACTURING EQUIPMENT MARKET SEGMENTATION

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• By Type Analysis

Based on the type, the soft gel manufacturing equipment market is segmented into soft capsule encapsulation machines, soft capsule drying systems, and other auxiliary devices.

• By Application Analysis

Based on the application analysis, the soft-gel manufacturing equipment market is segmented into pharmaceuticals, health supplements, and others.

DRIVING FACTORS

"COVID-19 Outbreak Promoting Higher Demand Across Several Applications"

Millions of individuals collectively experienced a quick deterioration in health when the fatal sickness assaulted them in 2020 when the COVID-19 pandemic struck the world. Due to the outbreak, the population of health-conscious people around the globe has increased ever since then. The demand for health supplements has increased dramatically over the years, particularly following the pandemic, because of the greater importance of physical fitness among individuals today. The pharmaceutical industry is vying to develop more softgel capsules, which has pushed the market growth of softgel manufacturing equipment.

"Ease of Consumption and Better Taste Against Tablets to Facilitate Growth"

Softgel capsules are incredibly soft and very simple to swallow because they are made of gelatine, which gives them their softness. Softgel capsules are mostly beneficial for people terrified of tablets or who have trouble swallowing larger medications. Another benefit of softgel capsules is that they taste much better or don't taste, unlike tablets, which can trigger some people's gag reflexes. Softgel capsules also dissolve more swiftly in the body and digest more quickly.

RESTRAINING FACTORS

"High Cost of Production of Softgel Capsules Could Disrupt Market Growth"

The price of the raw materials required to make softgel capsules tends to change, which can restrict the expansion of the market for softgel manufacturing equipment. The equipment utilized primarily for creating these capsules is also expensive; for instance, the drying machine, which stops the capsules from absorbing moisture and contracting, costs more.

SOFTGEL MANUFACTURING EQUIPMENT MARKET REGIONAL INSIGHTS

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"North America To Lead The Softgel Manufacturing Equipment Market Due To Robust R&D"

Currently, North America has the highest softgel manufacturing equipment market share. The demand for health supplements has increased the most in the North American region, which includes the United States and Canada. As a result, these two nations are leading the softgel manufacturing equipment market. The North American market is renowned across the world as one of the pioneers in pharmaceutical innovation and research. Most top manufacturing firms and leading businesses are concentrated in either the U.S. or Canada, accounting for most of the market share held by North America in softgel manufacturing equipment. The market for softgel production equipment in North America is also driven by the need to stay in shape.

Asia Pacific is the second region for softgel manufacturing equipment market growth. Over time, the demand for softgel capsules has grown as more people in the Asia Pacific region attempt to maintain a healthy weight. The region also has the largest percentage of people concerned with their physical well-being, leading to increased production of softgel capsules and softgel manufacturing equipment due to the high demand. The market for softgel manufacturing equipment is growing due to several other factors, including rising sports participation, a desire to appear physically fit, new technological advancements on the market, and increasing pharmaceutical industry investment. Being the two most populous nations in the world and having the fastest-growing economies in the Asia Pacific region, China and India will play a major role in the growth of the market for softgel manufacturing equipment.

KEY INDUSTRY PLAYERS

"Key Players Focus On Partnerships To Gain A Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies also invest in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List Of Top Softgel Manufacturing Equipment Companies

• Changsung (South Korea)
• SKY (South Korea)
• Technophar (Canada)
• Pharmagel (U.S.)
• GIC Engineering (U.S.)
• Sankyo (Japan)
• Kamata (Japan)
• Bochang (South Korea)
• Tooltronics (India)
• Long March Tianmin (China)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. Detailed studies also offer a comprehensive analysis by inspecting factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.