Pune, India, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The global empty capsules market size was valued at USD 2.8 Billion in 2021 and is projected to grow at a CAGR of 7.9% during the forecast period, according to a recent market study by Quince Market Insights. Empty capsules are made from gelatin which is an animal protein derived from collagen. Empty capsules are mostly used to store medicines or drugs, powders, and herbs.
Nutraceuticals demands have been rising due to the incidence of non-communicable diseases such as lung disorders, cancer, diabetes, and heart ailments are driving the empty capsules market growth.
Also, with the growing incidence of Covid-19 cases, personal health has gained much importance among people which is boosting the market growth. However, the less availability of gelatin supply to meet the increasing demands for capsules globally is restraining the growth of the empty capsules market.
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With increasing diseases in emerging countries, the production of capsules is also rapidly increasing and hence, opening opportunities for the key market players. The increasing demands for gelation in the market have created less availability of raw materials as well as boosted the prices of raw materials for manufacturing gelatins.
As a result, the manufacturers are facing quite challenges to increase their revenue from the empty capsules market.
Impact of COVID-19 Pandemic on Global Empty Capsules Market
The emergence of Covid-19 has negatively affected various business organizations and the empty capsules market is also among them. The market is basically being affected by the disruption of the supply chain as well as government regulations for controlling the spread of coronavirus infections.
However, the overall growth rate was slow during the pandemic situation, but the empty capsules market is expected to have a positive impact during the coming forecast period.
Global Empty Capsules Market, by Application
Based on application, the market is segmented into dietary supplements, cardiovascular therapy drugs, antianemic preparations, cough & cold drug preparations, antibiotic & antibacterial drugs, anti-inflammatory drugs, and antacid & antiflatulent preparations.
Among these, antibiotic & antibacterial drugs capture the largest share of the market in 2021 and are anticipated to remain the largest market during the forecast period also. Factors attributing the growth of the segment is due to affordable rates offered for antibiotic & antibacterial drugs due to rapidly increasing lifestyle diseases such as diabetes, headache, allergy, high blood pressure, and others are increasing the demands of antibiotic & antibacterial drugs segment. And hence, boosting the empty capsules market share.
Global Empty Capsules Market, by Functionality
Based on functionality, the market is bifurcated into immediate-release capsules, sustained-release capsules, and delayed-release capsules. Immediate-release capsules hold the largest market share in 2021 and are expected to remain largest during the coming projected period.
The factors responsible for the growth of immediate-release capsules are because they are mostly used for manufacturing antacids, antibacterial, cold & cough drugs preparations.
With the increasing demands of these viral infections, the demands for immediate-release capsules are also getting higher and hence, boosting the demand for the empty capsules market.
Global Empty Capsules Market, by Type
Based on type, the market is bifurcated into gelatin capsules and non-gelatin capsules. Further gelation captures are segmented into bovine, porcine, bone meal, and others. Further non-gelatin capsules are segmented into pullulan and starch material and hydroxypropyl methylcellulose (HPMC). Gelatin capsules segment captures the largest market share and is expected to remain largest during the forecast period.
Factors contributing to the growth of gelatin capsules are because it acts as a barrier to atmospheric oxygen which are making it a good choice for manufacturing capsule shells. And these factors are uplifting the growth of the empty capsules market.
Global Empty Capsules Market, by End User
Based on end user, the market is bifurcated into cosmetic, pharmaceutical, research, and nutraceutical. Pharmaceutical industries capture the largest market of empty capsules in 2021 and are anticipated to remain largest during the coming forecast period.
Factors contributing to the growth of the pharmaceutical segment are due to the increasing launches of drugs for capsule formations along with the growing prevalence of diseases are uplifting the demands for capsules in the market and hence, driving the empty capsules market.
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Global Empty Capsules Market, by Region
Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America dominates the empty capsules market in 2021 and is expected to remain dominant during the coming forecast period.
Factors attributing the growth is due to the growing emphasis on superior pharmaceutical products and generics are demanding empty capsules with a high rate are uplifting the North American market for global empty capsules.
Recent Developments in the Global Empty Capsules Market
- February 2021 – Qualicaps Europe has announced its expansion in South Asia region. Additionally, in Europe with two manufacturing sites, and teams included of capsule manufacturing located within the South Asia & EMEA regions. The company is set to continue its offerings in these three newly integrated regions with high quality, performance, and functionality in its product and service quality.
- October 2020 – Lonza announced its investment of CHF85m (93m USD) in Capsules and Health Ingredients Division, a dosage form delivery partner to the biopharma and health nutrition industry. The investment aims to deal with the increasing demands for capsules globally.
Some Key Findings of the Global Empty Capsules Market Report Include:
- The analysis includes a global empty capsules market study, expansions, and forecasts, along with a country-specific analysis.
- An in-depth analysis of the global empty capsules market comprises segment application, functionality, type, end user, and regions with an analysis of trend-based insights and factors.
- Product offering details on competitive benchmarking and evolution approach adopted by the industry players, along with their investments in the last five years in the global market have been provided in the report.
- The market research includes a study of the provinces, boundaries, drivers, prospects, guidelines, challenges, and procedures that are propelling the global empty capsules market.
- The study also offers complex measures of potential market effect during the forecast period and an in-depth overview of the leading companies operating in the global market.
- External as well as internal variables that are expected to have a positive or negative effect on companies have been evaluated, which will offer the decision-makers a strong futuristic view of the industry.
- The research also helps understand the dynamics of the empty capsules market structure by analyzing market segments and by projecting the size of the market.
- The report helps to understand the effects of COVID-19 pandemic on empty capsules market.
- Some major industry players functional in the global empty capsules market are: ACG Worldwide, CapsCanada Corporation, Capsugel, Qualicaps, Healthcaps India Ltd., Suheung Co., Ltd., Shanxi Guangsheng Medicinal Capsules Co., and Yiqing Medicinal Capsules Co., Ltd.
For more information on this topic please visit our website report titled, “Empty Capsules Market, By Application (Dietary Supplements, Cardiovascular Therapy Drugs, Antianemic Preparations, Cough & Cold Drug Preparations, Antibiotic & Antibacterial Drugs, Anti-inflammatory Drugs, and Antacid & Antiflatulent Preparations), Functionality (Sustained-release Capsules, Immediate-release Capsules, and Delayed-release Capsules), Type (Gelation Capsules {Bovine, Porcine, Bone Meal, and Other Gelatin Sources}, Non-Gelation Capsules {Pullulan and Starch Material and Hydroxypropyl Methylcellulose}), End User (Pharmaceutical, Cosmetic, Research, and Nutraceutical) and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)” — in-depth analysis along with the table of contents (ToC).
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