Empty Capsules Market to Exceed US$ 4.5 Bn by 2031, Registering at a CAGR of 7.6% | Exclusive Report by Transparency Market Research
Rapid adoption of hard empty capsules in nutraceutical applications is anticipated to create significant opportunities in the market
Wilmington, Delaware, United States, Oct. 31, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global empty capsules market was valued at US$ 2.1 Bn in 2021 and is projected to expand at a CAGR of 7.6% from 2022 to 2031. Advancement in empty capsule production technology is likely to pave the way for advanced drug delivery systems for a range of medicinal products. Introduction of novel enteric empty hard capsules is broadening market outlook. Increase in demand for immediate-release drug dosage form presents substantial opportunities for companies in the global empty capsules market. An instance is significant utilization of empty capsule for the encapsulation of medical products used as pain-relievers and antacids.
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Key Findings of Study
Significant Adoption of Gelatin Capsule-based Drug Delivery System
Gelatin capsule-based drug delivery system is widely preferred for immediate-release medications. Rise in usage of gelatin empty capsules for encapsulation of herbs is expected to bolster market value. The empty capsules industry is driven by increase in adoption of hydroxypropyl methylcellulose (HPMC) or non-gelatin capsule. High preference for HPMC capsules among patients can be ascribed to the ease of swallowing and inert taste of these medicines.
Rise in Utilization of Empty Capsules by Pharmaceuticals Manufacturers
Increase in adoption of empty capsule in the pharmaceutical industry is anticipated to augment market value. Based on end-user, the pharmaceutical industry segment is projected to grow at a rapid pace during the forecast period. This can be ascribed to increase in demand for pharmaceutical products used in the treatment of chronic diseases, especially diabetes, cancer, and cardiovascular disease. Rise in global burden of these diseases in several countries is driving usage of empty capsules in the production of pharmaceutical products.
Increase in Usage of Empty Capsules in Manufacture of Vitamin & Dietary Supplements
Based on application, the vitamin & dietary supplements segment accounted for the leading market share in 2021. The trend is projected to continue during the forecast period. Significant usage of empty capsules in the manufacture of vitamin supplements is anticipated to augment the market. Surge in demand for dietary supplements to prevent a range of diseases among the general population is expected to accelerate the empty capsules industry growth. Based on source, the porcine segment held major share of the global empty capsules market in 2021. Shift of dietary supplement manufacturers from porcine source toward bovine source of gelatin in the past few years is expected to create significant untapped opportunities in the empty capsules market.
Key Growth Drivers of Empty Capsules Market
- Rapid commercialization of gelatin-based drug delivery systems is a key driver of the empty capsules market
- Increase in focus on health and wellness among the general population across the world is fueling demand for nutraceuticals, especially vitamin & dietary supplements. Rise in usage of empty capsules for the encapsulation of herbal concoctions and vitamins is expected to augment market size. People in developing countries are becoming aware of preventive healthcare, which is driving demand for empty capsule-based drug delivery systems.
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Asia Pacific is projected to account for the leading market share in 2021. Significant expansion of the pharmaceutical industry across the region is expected to augment market growth in the region. Technological advancements in synthesis of hard gelatin capsules presents substantial opportunities for companies in the market in the next few years. High prevalence of chronic diseases is expected to spur demand for medicinal products. Presence of several empty capsule manufacturers in emerging economies is anticipated to bolster market growth in the region.
North America accounted for the second largest share of the global market in 2021. Increase in investments in manufacture of novel drug delivery system is expected to propel market growth in the region. Rise in R&D activities in pharmaceutical empty capsules in the U.S. is likely to accelerate market development in the near future.
Companies are focusing on innovation in pharmaceutical drug delivery to stay ahead of competitors. The business landscape is highly fragmented, with presence of a large number of companies holding sizable stake of the market. Leading players are focusing on mergers & acquisitions and product portfolio expansion to increase market share.
Key companies in the empty capsules market are
- ACG Worldwide
- Lonza Group AG
- HealthCaps India Ltd.
- Natural Capsules Limited
- CapsCanada Corporation
The global empty capsules market is segmented based on
- Gelatin Capsules
- Non-gelatin Capsules
- Antibiotic & Antibacterial Drugs
- Vitamin & Dietary Supplements
- Antacid & Antiflatulent Preparations
- Cardiovascular Therapy Drugs
- Immediate-release Capsules
- Sustained-release Capsules
- Delayed-release Capsules
- Pharmaceutical Industry
- Nutraceutical Industry
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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