Market Overview:
The global Empty Capsules Market is projected to reach a value of US$2,382.7 million by 2022, with a compound annual growth rate (CAGR) of 8.1% during the forecast period 2023 to 2030, according to a report by Coherent Market Insights. Empty capsules are an essential part of the pharmaceutical industry, used to encapsulate various types of drugs, including powders, granules, and liquids. They offer advantages such as convenience in drug administration, accurate dosing, and protection of sensitive drug substances. The growing demand for these capsules can be attributed to factors such as increasing prevalence of chronic diseases, rising geriatric population, and advancements in drug delivery technologies.
Market Key Trends:
One key trend in the Empty Capsules Market is the adoption of vegetarian capsules. Vegetarian or plant-based capsules are made from cellulose or starch, which are derived from plants. These capsules are gaining popularity due to their various advantages over traditional gelatin capsules. Vegetarian capsules are suitable for a wide range of consumers, including those with dietary restrictions such as vegetarians and individuals with religious dietary requirements. They are also preferred by consumers who have concerns about the source of gelatin, as plant-based capsules are free from animal by-products. Moreover, vegetarian capsules have a longer shelf life and are more stable when exposed to moisture or high temperatures. The increasing demand for vegetarian capsules is driven by the growing preference for plant-based products and the rising awareness about environmental sustainability. The market players are focusing on expanding their product portfolio to include vegetarian capsules to cater to the evolving consumer demands.
Segment Analysis:
The empty capsules market can be segmented on the basis of product type, end use, and region. By product type, the market can be further divided into gelatin-based capsules and non-gelatin-based capsules. Gelatin-based capsules dominate the market and are expected to continue their dominance throughout the forecast period. Gelatin-based capsules are preferred due to their excellent stability, low water content, and ease of manufacturing. They are widely used in the pharmaceutical industry for the encapsulation of medicines, vitamins, and dietary supplements. Additionally, gelatin-based capsules have a higher acceptance rate among consumers and healthcare professionals due to their biocompatibility and ease of digestion.
By end use, the market can be categorized into pharmaceuticals, nutraceuticals, cosmeceuticals, and research laboratories. The pharmaceuticals segment is the largest and fastest-growing segment in the empty capsules market. The increasing demand for personalized medicine and the growing prevalence of chronic diseases are driving the growth of this segment. Moreover, the rising popularity of dietary supplements and the growing awareness about preventive healthcare are contributing to the expansion of the nutraceuticals segment.
Key Takeaways:
The global empty capsules market is expected to witness high growth, exhibiting a CAGR of 8.1% over the forecast period. Factors such as the increasing demand for pharmaceutical and nutraceutical products, rising healthcare expenditures, and growing consumer awareness about preventive healthcare are driving market growth.
In terms of regional analysis, North America is the fastest-growing and dominating region in the empty capsules market. The region's strong healthcare infrastructure, high healthcare spending, and presence of major pharmaceutical and nutraceutical manufacturers contribute to its dominance. Additionally, the growing aging population and increasing prevalence of chronic diseases in North America are driving the demand for empty capsules.
Key players operating in the empty capsules market include ACG Group, Capsugel (Lonza Group AG), Qualicaps, Inc., Bright Pharma Caps, Inc., Sunil Healthcare Ltd., CapsCanada Corporation, Roxlor LLC, Snail Pharma Industry Co., Ltd., Suheung Co., Ltd., and Medi-Caps Ltd. These players are implementing strategies such as mergers and acquisitions, partnerships, and product launches to strengthen their market presence and gain a competitive edge. The growing focus on research and development activities and the introduction of innovative products are key strategies adopted by key players to expand their customer base and capture a larger market share.
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[206 Pages Report] MarketsandMarkets forecasts the Empty Capsules market to grow from USD 1.95 billion in 2018 to USD 2.79 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.
A softgel consists of a gelatin-based shell surrounding a liquid or semi-solid (inner fill) drug or extract in the center.
Softgel capsules offer several benefits to consumers such as convenience, enhanced efficacy, and bioavailability.
Enteric softgel capsules are expected to exhibit significant market growth during the forecast period, owing to rise in adoption of enteric softgel, surge in demand for omega-3 supplements, growth in promotional activities by manufacturers, and rise in consumer awareness for preventative healthcare.
The global softgel capsules market is estimated to grow at a CAGR of approximately 5% during the forecast period to reach approximately USD 2.5 billion by 2025.Market Dynamics1.
Over the years, capsule delivery has witnessed a number of technological advancements in terms of product enhancements for better quality outcomes and patient comfort.
According to the new market research report “Empty Capsules Market by Type (Gelatin (Porcine, Bovine), Non gelatin (HPMC, Pullulan)), Functionality (Delayed release), Application (Antibiotics, Dietary Supplements, Anti- Inflammatory), End User (Pharma, Nutraceuticals) – Global Forecast to 2026″, published by MarketsandMarkets™, the global market is projected to reach USD 3.7 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 7.2% during the forecast period.Browse and in-depth TOC on “Empty Capsules Market”176 – Tables40 – Figures216 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218018190The overall growth of the Empty Capsules Market is largely driven by the growing adoption of capsule formulations among the growing geriatric population, the growth of the pharmaceutical market, increasing R activities & clinical trial studies, and advancements in capsule delivery technologies.
Emerging markets, with their low manufacturing costs, are expected to present significant opportunities for players.
Other areas of opportunity are the development of halal gelatin and vegetarian capsules.Gelatin accounted for the largest share of Empty Capsules MarketBased on type, the market is categorized into gelatin capsules and non-gelatin capsules.
The various advantages of gelatin capsules, such as rapid drug release, uniform mixing of drugs, and a barrier to atmospheric oxygen (preventing oxidation of drug molecules), make them a preferred choice for manufacturing capsule shells.Immediate-release capsules accounted for the largest share of Empty Capsules MarketBased on functionality, the market has been segmented into immediate-release, sustained-release, and delayed-release capsules.
This is because immediate-release capsules are widely used to manufacture antibiotics, antibacterial, antacids, painkillers, inhalators, cold and cough drug preparations, and dietary supplements.Antibiotic & antibacterial drugs accounted for the largest share of marketBased on therapeutic applications, the market is segmented into antibiotic & antibacterial drugs, dietary supplements, antacid & antiflatulent preparations, antianemic preparations (hematinic), anti-inflammatory drugs, cardiovascular therapy drugs, cough & cold drugs, and other therapeutic applications.
The antibiotic & antibacterial drugs segment accounted for the largest share of 33.1% of the Empty Capsules Market in 2020.The dietary supplements segment is expected to witness the highest CAGR of 8.2% during the forecast period.
