Empty Capsules Market Statistics 2030:
The global empty capsules market size was valued at $2,382.7 million in 2020, and is projected to reach $5,230.4 million by 2030, registering a CAGR of 8.1% from 2021 to 2030. Capsule is defined as a solid pharmaceutical dosage form, in which drugs or combination of drugs are enclosed in a shell. Empty capsules are mostly recommended to store powders, drugs, and herbs. Capsules are easier to swallow as compared to tablets. It is used by pharmaceuticalmanufacturesto prepare different therapeutic drugs. Capsule shells are made of gelatin or non-gelatin material (such as pullulan, HPMC, and starch), which is available in various shapes, sizes, and colors. Hard gelatin capsules are widely available in the pharmaceutical industry, which are composed of gelatin and purified water.
Growth of the global empty capsules market is majorly driven by increase in prevalence of chronic diseases such as cardiovascular diseases, cancer, diabetes, and gastrointestinal diseases; rise in demand for gelatin capsules; increase in funding from private & government organizations for capsule manufacturing units; and rise in R&D activities for development of therapeutic products, which are enclosed in capsules.
According to the World Health Organization (WHO) in 2021, various types of chronic diseases, such as cardiovascular diseases, cancer, respiratory diseases, and diabetes, are responsible for approximately 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths, respectively. Increase in number of chronic diseases and surge in demand for therapeutic drugs drive growth of the market. Therapeutic drugs are encapsulated in hard and soft gelatin empty capsule, which increases the need for capsule production and propel the empty capsules market growth. Furthermore, surge in capsuledrug delivery form is anticipated to fuel growth of the market. In addition, rise in focus on healthcare supplements fuel the market growth, owing to the fact that people are more conscious to maintain good health.
In addition, increase in number of clinical studies for evaluating safety and efficiency of a wide range of therapeutic drugsis anticipated to contribute toward growth of the market. Moreover, increase in prevalence of geriatric population, who are more susceptible to chronic diseases, surge in need for immunity boosters and dietary supplements to enhance the strength propel growth of the empty capsules market. According to the Centers for Disease Control and Prevention (CDC), in 2020, it was reported that around one-quarter of adults above the age of 60 years consumed more than four dietary supplements. It was also observed that the use of multiple (two, three, four, and more) dietary supplements increase with increase in age of people, owing to weaking of immune system. Dietary supplements and healthcare products are filled in soft gelatin capsules, which further drive growth of the market.
Furthermore, increase in technological development in the pharmaceutical industry to manufacture plant derived capsules is expected to provide remunerative opportunities for expansion of the global empty capsules market during the forecast period. Moreover, presence of key manufacturing companiesto produce and distributeempty capsules and rise in expenditure on healthcare products propel growth of the market.
Initiatives taken by government in order to develop pharmaceutical industry, propel the growth of the empty capsules market. However, ethical concerns along with price fluctuations regarding gelatin material and stringent regulations in the pharmaceutical industry are expected to restrict the market growth during the forecast period.
By Product
Gelatin Capsules segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Global Empty Capsules Market Segmentation
The globalempty capsules market is segmented into product, raw material, therapeutic application, end user, and region.By product, the market is categorized into gelatin capsules and non-gelatin capsules.
On the basis of raw material, it is divided into pig meat, bovine meat, bone, hydroxypropyl methylcellulose (HPMC), and others. Depending on therapeutic application, it is categorized into antibiotic & antibacterial drugs, vitamin & dietary supplements, antacids & anti-flatulent preparations, cardiac therapy drugs, and others. By end user, it is classified into pharmaceutical manufacturers, nutraceutical manufacturers, and others.
By Raw Material
Pig Meat segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Region wise, the empty capsules market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, and rest of Europe), Asia-Pacific (Japan, China, India, and rest of Asia-Pacific), and LAMEA (Saudi Arabia, the UAE, Russia, Kazakhstan, Azerbaijan, Iran, Algeria, Egypt, and rest of LAMEA).
Segment Review
Depending on product, the gelatincapsules segment dominated the empty capsules market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in R&D activities in the healthcare sector and advantages of gelatin capsules as compared to other drug delivery forms. There are various advantages of gelatin capsules such as thermo-reversibility & tableting, non-allergenic, viscoelasticity, and biocompatibility. However, the non-gelatin capsulessegment is expected to witness considerable growth during the forecast period, owing to surge in demand for HPMC capsules and development of plant-derived capsule manufacturing units.
By Application
Antibiotic & Antibacterial Drugs segment is projected as one of the most lucrative segment.
By Therapeutic Application
By therapeutic application, the antibiotic & antibacterial drugssegment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in incidences of infectious and inflammatory diseases, rise in R&D activities for manufacturing of therapeutic drugs, and increase inadoption of capsule formulation. However, the vitamin & dietary supplements segment is expected to witness considerable growth during the forecast period, owing to increase in demand for immunity boosters, rise in number of geriatric population, and surge in demand for nutraceutical products.
By End User
On the basis of end user, the pharmaceutical manufacturers segment dominated the empty capsules market in 2020, and this trend is expected to continue during the forecast period, owing toincrease in demand for chemotherapy, rise in prevalence of chronic diseases, development of pharmaceutical capsule manufacturing sectors,and advancements in technology in capsule manufacturing. However, the nutraceuticals manufacturers segment is expected to witness considerable growth during the forecast period, owing to increase in demand for healthcare supplements, initiatives taken by governments to promote awareness about dietary supplements, and rise in number of soft gelatin capsules to encapsulate dietary supplements.
By End User
Pharmaceutical Manufacturer segment is projected as one of the most lucrative segment.
By Region
North America garnered a major share in the empty capsules market in 2020, and is expected to continue to dominateduring the forecast period, owing to rise in prevalence of chronic diseases such as cardiovascular diseases and cancer; presence of key players for manufacturing of empty capsules; increase in number of production of capsules; and advancements in capsule drug delivery technology in the region. However, Asia-Pacific is expected to register highest CAGR of 9.5% from 2021 to 2030, owing to increase in geriatric population and rise in demand for immunity booster products.
The key players operating in the global empty capsules market include 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.
By Region
North America was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the empty capsules market, and the current trends & future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing empty capsules market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the empty capsules market.
Empty Capsules Market Report Highlights
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Analyst Review
Growth of the empty capsules market is attributed to factors such as rise in advancements in development of capsules; rise in prevalence of chronic diseases; increase in funds from private & government organizations for development of various research laboratories; and growth in popularity of capsules over other drug delivery forms. The empty capsules market has gained interest of pharmaceutical manufacturing companies, owing to surge in demand for therapeutic drugs. Rise in demand for therapeutic drugs lead to increase in adoption of empty capsules. Moreover, increase in prevalence of geriatric population, who are more prone to chronic diseases notably contribute toward growth of the market. In addition, surge in demand for nutraceutical products propel growth of the market.
North America is expected to witness the highest growth, in terms of revenue, owing to rise in prevalence of chronic diseases such as cardiovascular diseases, cancer, presence of key players for manufacturing of empty capsules, increase in number of production of capsules, and advancements in capsule drug delivery technology in the region.
Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to increase in geriatric population and rise in demand for immunity booster products.
However, ethical concerns along with price fluctuation regarding gelatin material and stringent regulations in the pharmaceutical industry are anticipated to restrain the market growth during the forecast period.
The total market value of empty capsules market is $2,382.7 million in 2020.
The forecast period in the report is from 2021 to 2030
The market value of empty capsules Market in 2021 was $2,599.6 million
The base year for the report is 2020.
Yes, empty capsules companies are profiled in the report
The top companies that hold the market share in empty capsules market are 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.
Asia-Pacific is expected to register the highest CAGR of 9.5% from 2021 to 2030, owing to increase in geriatric population, and rise in demand for immunity booster products.
The key trends in the empty capsules market are by an increase in the prevalence of chronic disease, such as cardiovascular disease, cancer, diabetic, & gastrointestinal disease; rise in demand for gelatin capsule; increase in funding from private & government organizations for capsule manufacturing units; and rise in R&D activities for development of therapeutic products, which are enclosed in capsule.
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