New Jersey, NJ, Aug. 27, 2019 (GLOBE NEWSWIRE) -- Increasing demand of empty capsules in pharmaceutical, nutraceutical, and cosmetic industries and the growing preference from consumer for capsules over tablets are the factors contributing to the growth of the market. The global empty capsules market is expected to grow from USD 2.10 Billion in 2017 to USD 4.20 Billion by 2025 at a CAGR of 9.10% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Capsules contain encapsulate medicines and are an alternative to tablets. Empty capsules are classified into gelatin capsules and non-gelatin capsules. Capsules offer various advantages over other dosage forms such as tablets. They can deliver solid as well as non-aqueous liquids and semisolid doses. Most of the active pharmaceutical ingredients such as vitamins, herbs, drug substances are not edible. Hence, capsules come into play for masking the taste of the drugs. Increasing adoption of vegetarian based empty capsules by several nutraceuticals and pharmaceuticals companies is fuelling the market growth in the forecast period.
Chronic conditions are driving the demand of therapeutically-effective medicines to treat chronic health conditions. In addition, introduction of different types of materials for capsule is also driving the global empty capsules market. Lower availability of raw materials is restraining the growth of the empty capsules market. However, increasing demand from pharmaceutical and healthcare industries are further augmenting the growth of the global empty capsules market.
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Key players operating in the global empty capsules market are ACG Worldwide, Capsugel, Suheung Co., Ltd., Qualicaps, Bright Pharma Caps Inc., Capscanada Corporation, Natural Capsules Limited, Qingdao Yiqing Medicinal Capsules Co., Ltd., Nectar Lifesciences Ltd., Healthcaps India Ltd., Medi-Caps Ltd., Snail Pharma Industry Co. Ltd., Roxlor, Sunil Healthcare Ltd. and others. Key players active in the market are involved in collaborative agreements and expansion to bolster the growth of the market.
- Extensive product portfolio and expansion strategies by major players are contributing to the growth of the sector. For instance, in May 2018, ACG showcased a wide range of capsules, films and foils solutions at the FCE Pharma.
- For instance, in 2018, Capsule Delivery Solutions, part of Lonza Pharma & Biotech has launched new product named Capsugel Colorista. This product is a high-quality capsule based on an “all-colorants” formulation. This new capsule further expands the Lonza Capsugel® R&D offering.
Gelatin capsules segment is expected to dominate the segment and held the largest market share of 54.21% in 2017.
The type segment is classified into gelatin capsules and non-gelatin capsules. Gelatin capsules segment dominated the global empty capsules market with the largest market share of 54.21% in 2017 and is is expected to maintain its dominance over the forecast period. Rapid drug release, uniform mixing, and a barrier to atmospheric oxygen makes them the preferred choice for drug shells.
Immediate-release capsules segment is dominating and was valued around USD 1.09 billion in 2017.
Functionality segment is divided into immediate-release capsules, sustained-release capsules and delayed-release capsules. Immediate-release capsules segment is dominating the global empty capsules market and held a valued of around USD 1.09 billion in 2017. Widespread use in the manufacturing of antibiotics, antacids, painkillers, inhalators and dietary supplements are major contributing factors. Moreover, these are the most commonly prescribed capsules for a wide range of diseases and disorders.
The dietary supplements segment is expected to register the highest CAGR of 12.38% during the forecast period.
Application segment is bifurcated into antibiotic & antibacterial drugs, dietary supplements, antacid & antiflatulent preparations, antianemic preparations, anti-inflammatory drugs, cardiovascular therapy drugs and other applications. The dietary supplements segment is expected to register the highest CAGR of 12.38% during the forecast period due to increased health awareness and rising affordability in developing countries.
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The pharmaceutical industry held the largest share and was valued around USD 798. 83 million in 2017.
End user segment is classified into pharmaceutical industry, nutraceutical industry, cosmetic industry and research laboratories. The pharmaceutical industry held the largest share in the global empty capsules market and was valued around USD 798.83 million in 2017. The growth can be attributed to an increasing number of drugs launched as capsule formulations and high demand of innovative drug delivery formulations.
Region Segment Analysis of the Empty Capsules Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region captured the largest share of global empty capsules market and was valued around USD 966.34 Million in 2017 whereas Asia pacific is expected to witness maximum CAGR in the forecast period. North America region is expected to dominate the market due to rising consumer awareness pertaining to nutraceutical products and health-focused trends in the region. Asia pacific is expected to register the highest growth in the forecast period owing to favourable government initiatives for the development of healthcare infrastructure and increasing demand for nutraceuticals and cosmeceuticals due to the increasing awareness about fitness-oriented changing lifestyles.
About the report:
The global empty capsules market is analysed on the basis of value (USD Billion), volume (K Packet), consumption (K Packet), import (K Packet), and export (K Packet). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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