Conventional capsules are commonly used in medicines that are ingested orally and contain different active ingredients, either in the form of a paste, suspension, or liquid. Patients prefer capsules because they are easier to chew than tablets and have no unpleasant taste or scent.
According to Market Research Future (MRFR), Global Two-piece Empty Hard Capsule Market is projected to reach USD 2,585.7 million by 2023 at a CAGR of 7.23% during the forecast period. The report examines the global demand of Global Two-piece Empty Hard Capsule across key regions and provides detailed qualitative insights.
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Two-Piece Empty Hard Capsule Market Dynamics
Growing investments in empty hard capsule manufacturing plants, growing demand for kosher- and halal-certified capsules and increasing applications in nutraceutical diseases are major drivers for the growth of global two-piece empty hard capsule market. One such example, in August 2016, ACG Worldwide invested 1,85 billion baht to build a capsule factory in Rayong (Thailand). In addition, in March 2015, Capsugel (now Lonza Company) spent more than USD 25 million to expand the production capacity of the vegetarian capsule portfolio of the firm. Nevertheless, the growth of the market is restricted by the heavy cost of vegetarian capsules and fluctuating raw material prices during the forecast period.
Two-Piece Empty Hard Capsule Market Segmentation
The global two-piece empty hard capsules have been segmented into raw material and end-use.
Based on raw material, the global market was divided into gelatin, non gelatin, and starch & pullulan. Gelatin capsules are further categorized as hard gelatin capsules (HGCs) and soft gelatin capsules (SGCs). The gelatin capsule segment dominated the global market in 2017, and its beneficial properties, such as thermo-reversibility and tableting, non-allergenicity, viscoelasticity, and biocompatibility, are expected to remain dominant over the forecast period. Whereas, the segment of non-gelatin capsules is expected to grow at the fastest rate during the forecast period. Non-gelatin capsules such as hydroxypropyl methylcellulose (HPMC) capsules have gained popularity in the pharmaceutical and nutraceutical sectors, which have contributed to the sustained growth of this segment on the global market.
Based on end-use, the consumer industry has been listed as pharmaceuticals, health & nutrition, and others. Pharmaceuticals is currently accounted for 48.90% of the market share and can lead the market during the forecast period, whereas nutraceutical capsules are expected to register the fastest CAGR by 2018.
Two-Piece Empty Hard Capsule Market Regional Analysis
Region-wise, the Two-Piece Empty Hard Capsule Market Report is divided into the United States of America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Due to the rising preference for capsule dosage forms and the increasing pharmaceutical manufacturing industries, the United States of America is expected to dominate the global two-piece empty hard capsule market during the forecast period. The European market for the two-piece empty hard capsule is projected to be the second largest in the forecast period. The rising demand for capsule dosage forms and the growing pharmaceutical manufacturing industries are driving the growth of the industry.
Asia-Pacific is expected to be the fastest-growing market due to the expansion of pharmaceutical industries in the region, favourable government initiatives in the healthcare sector, and an increasing pharmaceutical manufacturing industry.
The Middle East and Africa region is an emerging market for empty hard capsules, and are expected to rise slowly over the forecast period. The demand for empty hard capsules in Latin America is expected to see modest growth in the years ahead.
Two-Piece Empty Hard Capsule Industry News
CapsCanada increased its K-CAPS production potential by spending 28 million USD in February 2018. With this, the company aimed to increase its production of capsules to meet the growing global demand for K-CAPS in November 2016,
Capsugel introduced the first scientific demonstration of Vcaps Enteric Capsules and introduced the new developments at AAPS 2016.
Suheung America Corporation announced the introduction of the EMBO CAPS VG ALPHA in October 2017. With this introduction, the company has extended its product range for vegetarian capsules. The capsule was produced at the manufacturing facilities of the South Korean firm.
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Additionally, the disposable autoinjectors segment is also projected to exhibit the highest CAGR of 17.90% from 2019 to 2024.Americas accounted for the largest market share of 40.6% in 2018, and the regional market is projected to register a CAGR of 16.60%during the forecast period.
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