The global empty capsules market was valued at $1,841.5 million in 2017 and is expected to reach $3,707.5 million by 2025, registering a CAGR of 9.1% from 2018 to 2025. Capsules are relatively stable shells that contain or encapsulate medicines, which are administered in a variety of dosage forms. Empty capsules are of two types in the market namely, gelatin capsules and non-gelatin capsules. Of these, the vegetable/non-gelatin capsules are expected to witness considerable demand in the coming years. This is attributed to the preference for the same among the consumers due to its natural or non-animal origin.
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The key factors that boost the growth of the global empty capsules market include growth in popularity of capsules over other drug delivery forms and increase in strategic collaborations between empty capsule suppliers and gelatin manufacturers. In addition, rapid advancements in capsule delivery technologies are set to supplement the market growth. However, ethical concerns, price fluctuations regarding gelatin material, and stringent regulations in the pharmaceutical industry are expected to hamper the market growth. Nevertheless, soaring investments by pharmaceutical manufacturers in untapped economies offer profitable opportunities for the expansion of the market.
Product segment review
Based on product, the global empty capsules market is categorized into gelatin and non-gelatin capsules. Gelatin capsules are further classified into hard gelatin capsules (HGCs) and soft gelatin capsules (SGCs). The gelatin capsule segment dominated the global market in 2017 and is anticipated to remain dominant throughout the forecast period, owing to its beneficial properties, such as thermo-reversibility and tableting, non-allergenicity, viscoelasticity, and biocompatibility. Whereas, the non-gelatin capsules segment is expected to grow at the fastest rate during the forecast period. Non-gelatin capsules such as hydroxypropyl methylcellulose (HPMC) capsules gained popularity in the pharmaceutical and nutraceutical sectors, which contributed to the robust growth of this segment in the global market.
Raw material segment review
Based on raw material, the global empty capsules market is categorized into pig meat, bovine meat, bones, HPMC, and others. Animal-origin raw materials mainly, pig skins, bovine hides, and bovine bones are being predominantly used for manufacturing capsule shells. Among these, pig meat has largely contributed to the global market revenue in 2017 and is expected to maintain this trend throughout the forecast period. However, there is an increase in the popularity of capsules made from HPMC among vegans because of its plant origin. Growing preference of consumers toward vegetarian capsules has encouraged pharmaceutical and nutraceutical manufacturers to increase the use of HPMC materials for production in the near future.
Region segment review
Region-wise, the global empty capsules market is analyzed across North America, Europe, Asia-Pacific, CIS (Commonwealth of Independent States), and MENA (Middle East and North Africa). North America dominated the global market in 2017, accounting for the highest share and is anticipated to maintain this trend throughout the forecast period. This is attributed to the growing demand for nutraceuticals that are used against chronic ailments, such as obesity, diabetes, depression, and others, which are prevalent in the country. However, the Asia-Pacific region is projected to register the highest growth rate from 2018 to 2025. India serves as the most lucrative market in Asia-Pacific region owing to its significant population base, rising geriatric population, and evolving healthcare industry. In addition, increasing number of manufacturers are exploring the opportunities offered by developing countries; which has further contributed to the fastest growth rate of the Asia-Pacific region throughout the forecast period.
The report provides a comprehensive analysis of the key players operating in the global empty capsules market, such as ACG Worldwide, Bright Pharma Caps Inc., CapsCanada Corporation, Lonza Group Ltd. (Capsugel), Medi-Caps Ltd., Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.), Roxlor LLC, Snail Pharma Industry Co. Ltd, Suheung Co., Ltd, and Sunil Healthcare Ltd…
View full report: https://www.futureindustryinsight.com/product/empty-capsules-market/
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