According to a new market report published by Stratistics MRC the “Global Empty Capsules market” is accounted for $1.4 billion in 2015 and is expected to reach $2.45 billion by 2022 growing at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period. Rise in aging population and Pharmaceutical applications are the key factors influencing the market growth. Stringent government regulations and lack of raw materials availability are restraining the market growth.
On the basis of Therapeutic Application, the market is segregated into antianemic preparations, cough and cold preparations, anti-inflammatory drugs, antibiotic and antibacterial drugs, cardiovascular therapy drugs, vitamins and dietary supplements, antacid and antiflatulent preparations and other therapeutic applications. Antibiotic and antibacterial drugs segment accounted for the largest share of the global empty capsules market, due to the high proliferation of various infectious diseases and chronic conditions worldwide that imposes a high demand on the pharmaceutical industries. However, Vitamins and dietary supplements segment is expected to emerge as the fastest growing category during the forecast period. With an increased interest in healthy lifestyles, consumers will expand their consumption of vitamins and dietary supplements, particularly those targeted at systemic benefits like digestive health, immune system fortification, vitality and longevity.
On the basis of Product, the market is categorized into non-gelatin capsules and gelatin capsules. Gelatin capsules segment commanded the largest market revenue due to the extensive usage of hard gelatin capsules in the development of a wide range of formulations as well as the wide range of benefits associated with gelatin capsules, including desired drug dissolution characteristics, long-term safety of encapsulated drug molecules, and sustained release properties. However, non-gelatin capsules segment is expected to grow at the highest CAGR during the forecast period, owing to strict government regulations, dietary sensitivity of patients, and drug incompatibilities with gelatin capsules are the major factors driving the growth of the non-gelatin capsules segment.
On the basis of End User market is segmented into research laboratories, pharmaceutical industry, cosmetics industry and nutraceutical industry. The pharmaceutical industries segment accounted for the largest revenue share. The capsules are the most preferred solid dosage forms attributable to several reasons, such as better palatability and a faster absorption rate, which accounts for the maximum demand of these empty capsules in the pharmaceutical industry for the treatment of a plethora of chronic and infectious diseases. However, cosmetics industry segment is expected to grow at the highest CAGR during the forecast period. Cosmetic industry is enjoying a good phase in recent years, the driving factors for the industry are beauty consciousness among the users and capsule based therapy for beauty enrichment.
Browse the full market research report at “Empty Capsules - Global Market Outlook (2016-2022)”
This report also covers trends driving each segment and offers analysis by geography, with key regions such as North America, Europe, Asia Pacific and Rest of the World. North America held the largest share in the empty capsules market owing to the large existing industrial base and the large number of ongoing research activities. Increasing number of pharmaceutical and nutraceuticals companies are fueling the market growth. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period attribute to growth in the pharmaceutical and nutraceutical industries along with less stringent regulations in the nutraceutical industry, increasing number of new healthcare facilities, and rising healthcare awareness.
The key players in the Global Empty Capsules Market are Acg Worldwide, Roxlor, LLC, JC biological technologies, Suheung Co Ltd., Qualicaps, Nectar Lifesciences Ltd, Capscanada Corporation, Sunil Healthcare Limited, Capsugel, Medi-Caps Ltd., Patheon Ltd, Snail Pharma Industry Co., Ltd., and Bright Pharmacaps Inc.
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