Empty Capsules Market Size, Trends, Growth 2023-2031
The new report by Expert Market Research titled, ‘Global Empty Capsules Market Size Report and Forecast 2023-2031’, gives an in-depth analysis of the global empty capsules market, assessing the market based on its segments like type, functionality, raw materials, applications, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2031)
- Historical Market Size (2022): USD 2.27 billion
- Forecast CAGR (2023-2031): 7%
- Forecast Market Size (2031): USD 4.17 billion
The increasing emphasis of doctors and patients on superior pharmaceutical products and generics has increased the demand for empty capsules. Several factors are expected to drive the impressive growth of empty capsules in the region as the pharmaceutical manufacturing sector expands in developing countries.
Market growth is also driven by the growing pool of patients in these regions. The advancement of innovative technologies such as capsule-in-capsule delivery has helped to achieve considerable market penetration. The COVID-19 pandemic has been a major driver for this market as the demand for immunity boosters and associated medicines has been growing rapidly.
Empty Capsules Industry Definition and Major Segments
Stable shells that encapsulate drugs are called empty capsules. They are delivered as dosages in a number of ways. In the coming years, the market for vegetable/non-gelatine capsules is expected to grow. This may be due to the growing preference of natural or non-animal-based capsules among consumers.
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Based on type, the industry for empty capsules is segmented into:
- Gelatine capsules
- Hard Gelatine
- Soft Gelatine
- Non-Gelatine Capsules
On the basis of raw materials used in empty capsules, the industry is segmented into:
- Porcine
- Bovine
- Bone
- Hydroxypropyl Methylcellulose (HPMC)
- Starch Material
- Others
On the basis of functionality, the industry is segmented into:
- Immediate-Release Capsules
- Sustained-Release Capsules
- Delayed-Release Capsules
On the basis of application, the industry is segmented into:
- Antibiotic and Antibacterial Drugs
- Dietary Supplements
- Antacid and Anti-flatulent Preparations
- Cardiovascular Therapy Drugs
- Other
On the basis of end use, the industry is segmented into:
- Pharmaceutical
- Nutraceutical
- Cosmetics
- Others
The regional markets for the empty capsules include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Empty Capsules Market Trends
The main driver of the industry has been the rising prevalence of capsules over other forms of drug delivery. Another main factor is a rise in strategic partnerships between suppliers of empty capsules and producers of gelatin.
The rising adoption of capsules among the growing geriatric population is driving the growth of the industry. It is expected that easy access to generics and increased affordability in developing economies will drive the demand in these areas. Furthermore, rapid advances in capsule delivery technologies are expected to contribute to the growth of the industry.
Key Market Players
The major players in the market for empty capsules are Cupsugel (Lonza Group Ltd), ACG Group, Qualicaps (Mitsubishi Chemical Corporation), Capscanada (Lyfe Group Co.), Roxlor Group, and Suheung Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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