The new report by Expert Market Research titled, 'Global Empty Capsules Market Report and Forecast 2021-2026', gives an in-depth analysis of the Global Empty Capsules market, assessing the market based on its segments like type, raw materials, functionality, application, end-use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 1.98 billion
- Forecast CAGR (2021-2026): 7 %
- Forecast Market Size (2026): USD 2.97 billion
The growing adoption of capsule formulations by the growing geriatric population, the growth of the pharmaceutical industry with increasing R&D activities & clinical trial trials, and the advances in capsule delivery technology are the key factors that are expected to push the empty capsule market. However, it is anticipated that ethical issues, price volatility in gelatin products and tight legislation in the pharmaceutical sector would hamper demand development. Nevertheless, growing acquisitions in untapped markets by pharmaceutical producers provide lucrative prospects to grow the market.
Industry Definition and Major Segments
In the manufacture of pharmaceuticals, encapsulation refers to a range of dosage forms-techniques used to enclose medicines-in a relatively stable shell known as a capsule, allowing them to, for example, be taken orally or be used as suppositories. In the coming years, the market for vegetable/non-gelatine capsules is expected to increase. This may be due to customers' growing demand for capsules of natural or non-animal origin.
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Based on type, the industry for empty capsules is segmented into:
- Gelatine capsules
- Non-gelatine capsules
Gelatin capsules are further divided on the basis of type into hard and soft gelatine.
Based on raw materials used in empty capsules, the industry is segmented into:
- Hydroxypropyl Methylcellulose (HPMC)
- Starch material
Based on functionality, the industry is segmented into:
- Immediate-Release Capsules
- Sustained-Release Capsules
- Delayed-Release Capsules
Based on application, the industry is segmented into:
- Antibiotic and Antibacterial Drugs
- Dietary Supplements
- Antacid and Anti flatulent Preparations
- Cardiovascular Therapy Drugs
Based on end use, the industry is segmented into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The segment of non-gelatin capsules is expected to develop at the fastest CAGR during the forecast period for the capsule type of segment. The growth of the segment is motivated by the increasing demand for non-animal products and the advantages provided by these capsules over gelatin-based ones, such as low hygroscopicity, physical stability, stability in various temperature and humidity ranges and low moisture content.
The category of dietary supplements is expected to see a higher industry growth rate. Factors such as increased health consciousness and increased affordability in developing countries (such as India, China, and Brazil), increased prevalence of lifestyle diseases, and increased use of vitamin capsules lead to the growth of this category due to their availability as over the counter (OTC) medicines. With the rapid increase in pharmaceutical production in APAC over the past few years, the remarkable growth of the North America region is projected to be driven by many factors. The reasons include the rising capability of pharmaceutical production and the large pool of patients in the area of North America.
Key Market Players
The major players in the market are Cupsugel (Lonza Group Ltd), ACG Group, Qualicaps (Mitsubishi Chemical Corporation), Capscanada (Lyfe Group Co.), Roxlor Group, Suheung Co., Ltd., among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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