DUBLIN–(BUSINESS WIRE)–The “Empty Capsules Market by Product, Raw Material, Therapeutic Application and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.
The global empty capsules market 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 the solid dosage in which active pharmaceutical ingredients (API) or inert substances are enclosed in soft or hard shell. Empty capsules are mostly made of gelatin. API is available in various formulations such as powder, semisolid mass, granules, and liquid. Capsules can be administered orally and vaginally. The capsule is easier to swallow as compared to other drug delivery forms such as a tablets.
Growth of the global empty capsules market is majorly driven by alarming increase in prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and gastrointestinal diseases; rise in government initiatives to spread awareness and promote advantages of nutraceuticals products; surge in number of capsule production; rise in expenditure on human healthcare services; and rise in adoption of gelatin capsules.
A rise in the number of the geriatric population and surging demand for vitamin and mineral supplements drive growth of the market. Geriatric population is more vulnerable to chronic diseases and osteoarthritis disease, which surge demand for various drug therapies and vitamins & minerals for better health outcomes. This surges need for empty capsule production and is expected to propel growth of the market.
Increase in development of the pharmaceutical sector and surge in need for immunity booster supplements are major factors that drive the global empty capsules market. Moreover, increase in number of clinical studies significantly contributes toward the market growth. Clinical studies aim to evaluate safety and efficacy of drugs enclosed in capsule. Rise in number of capsule manufacturing acts as a key driving force for expansion of the global market. For instance, Lonza, a multinational chemical and biotechnology company produced 230 billion capsules in 2020. Furthermore, rise in funds by government and private organizations to develop capsule manufacturing units are expected to boost the market growth. For instance, in November 2021, ACG, announced that it will invest $78.00 million (Rs 600 crore) to develop Asia’s largest capsule manufacturing unit in Maharashtra, India.
In addition, advancements in R&D activities in capsule drug delivery technology and rise in business expansion and partnership strategy are anticipated to provide lucrative opportunities for the market expansion. Moreover, in October 2020, Lonza, a multinational chemical and biotechnology company, announced the investment of $93 million in the capsule and health ingredients, which enable companies to expand its overall manufacturing capacity of capsule by 30 billion capsules, per year.
However, high cost of gelatin and lower availability of raw materials to manufacture gelatin are anticipated to hinder the market growth. On the contrary, rise in number of capsule manufacturing units, advancements of technology for development of wide range of range having different flavor, color &size, and increase in awareness among population about nutraceutical products augment growth of the empty capsules sector. This has further encouraged many key players to enter emerging markets, thus offering lucrative opportunities in the empty capsules market.
Key Benefits
- The report provides an in-depth analysis of the global empty capsules market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global empty capsules market.
Market Dynamics
Drivers
- Increase in prevalence of chronic diseases
- Increase in number of empty capsules production
- Advancements in technology to develop capsules
Restraints
- Ethical concerns along with price fluctuations regarding gelatin material
- Stringent regulations in the pharmaceutical industry
Opportunities
- Development of pharmaceutical industry and rise in healthcare expenditure
Key Market Segments
By Product
- Gelatin Capsules
- Non-Gelatin Capsules
By Raw Material
- Pig Meat
- Bovine Meat
- Bone
- Hydroxypropyl Methylcellulose (HPMC)
- Others
By Therapeutic Application
- Antibiotic & Antibacterial Drugs
- Vitamin & Dietary Supplements
- Antacids & Anti-Flatulent Preparations
- Cardiac Therapy Drugs
- Others
By End User
- Pharmaceutical Manufacturers
- Nutraceutical Manufacturers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Players
- 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
- Sunil Healthcare Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/6y9a0s
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