Empty Capsules Market Outlook 2031
The global empty capsules market size was USD 2.93 Billion in 2022 and is projected to reach USD 6.52 Billion by 2031, expanding at a CAGR of 9.3% during the forecast period, 2023–2031. The growth of the market is attributed to the rising demand for capsules over tablets along with increasing demand for empty capsules in various industries such as pharmaceuticals, and cosmetics, and research institutes.
Empty capsules refer to the capsules that have no pre- existing formulation. Gelatin, starch, pullulan, and hydroxypropyl methylcellulose (HPMC) are among the key ingredients of empty capsules. These capsules are also necessary for the concept of personalized medicine, which involve the storage of specific medical formulations for each patient.
Empty capsules are used in the treatment of various infections and acute & chronic diseases such as cancers along with several applications such as in the treatment of common diseases such as colds and coughs. Moreover, these capsules are used in the formulation of dietary supplements as well as in antacid and anti-flatulent applications.
Furthermore, malignancies, acute & chronic disorders, and various infections are treated with these capsules. The capsules are preferred by most of the consumers due to their fast disintegrating nature resulting in quicker absorption rates and the use of tasteless and odorless gelatin coating. This has resulted in capsules palatable.
Many consumers prefer these capsules due to the tasteless and odorless gelatin coating along with fast dissolving nature. Furthermore, the capsule form is mostly preferred by nutraceuticals and cosmeceuticals, such as CosmoPod capsules and cod liver oil capsules respectively.
The present COVID-19 situation is projected to have a positive impact on the global market for empty capsules. Immunity boosters in the form of natural herbs and nutraceuticals are fueling the demand of robust immunity boosters to battle against this pandemic situation.
As per the research article published in 2020, every COVID-19 patient should be tested for malnutrition and serum vitamin D levels on admission. On the other hand, basic hygiene, healthy diet and lifestyle behaviors are critical for the prevention and treatment of COVID-19.
Empty Capsules Market Trends, Drivers, Restraints, and Opportunities
- Increasing geriatric populations who are at high risk of exposing to chronic diseases is fueling the demand for production of efficient drugs for the treatment. This is expected to boost the market growth.
- Growing demand for nutraceuticals along with rising prevalence of non- communicable diseases all around the world are key factors propelling the market growth.
- Technological advancement in capsule delivery technology is projected to boost the market growth.
- Stringent rule & regulations imposed by government on new drugs and delaying in approval for innovative products are some of the restraining factors hampering the market growth.
- Increasing prices and unavailability of raw materials in the gelatin industry is expected to hamper the market growth in near future.
- Setting up new manufacturing plants and business expansion by key pharmaceuticals companies in emerging countries are key factors offering lucrative opportunity for the market growth in the coming years.
Scope of Empty Capsules Market Report
The report on the global empty capsules market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Empty Capsules Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Applications (Cardiac Therapy Drugs, Anti-anemic Preparations, Antibiotic & Antibacterial Drugs, Antacids & Anti-flatulent Preparations, Anti-inflammatory & Anti-rheumatic Drugs, Cough & Cold Preparations, and Vitamin & Dietary Supplements), Products (Non-gelatin Capsules, Gelatin Capsules, and Others), and End-users (Nutraceutical, Pharmaceutical, Research Laboratories, Cosmetics Industries, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Capsugel, Inc.; Sunil Healthcare Ltd.; ACG Associated Capsules Pvt. Ltd.; CapsCanada Corp.; JC Biological Technology Co. Ltd.; Medicaps Ltd.; Qualicaps, Inc.; Patheon, Inc.; and Roxlor LLC
Empty Capsules Market Segment Insights
Application Segment Analysis
Based on applications, the global empty capsules market is segmented into cardiac therapy drugs, anti-anemic preparations, antibiotic & antibacterial drugs, antacids & anti-flatulent preparations, anti-inflammatory & anti-rheumatic drugs, cough & cold preparations, and vitamin & dietary supplements.
The antibiotic & antibacterial drugs segment is expected to grow at a robust pace during the forecast period attributed to the increasing prevalence of various infectious diseases and chronic conditions globally. Moreover, both government and non-government organizations are investing more in R&D activities and development of novel antibiotics as well as supportive regulatory policies present key aspects for the segment growth.
For example, Biomedical Advanced Research and Development Authority (BARDA) along with government has collaborated with several companies to encourage the development process of new therapies for infectious diseases.
Product Segment Analysis
On the basis of products, the market is segregated as non-gelatin capsules, gelatin capsules, and others. The gelatin capsules segment is projected to expand at a considerable CAGR during the forecast period due to the affordability of gelatin capsules availability of gelatin for the manufacturing process and the high protein content of gelatin.
Moreover, other advantageous factors such as uniformity in mixing of drugs, quick drug release, and a barrier to atmospheric oxygen are expected to propel the segment growth in the coming years.
End-users Segment Analysis
Based on end-users, the global empty capsules market is divided into nutraceutical, pharmaceutical, research laboratories, cosmetics industries, and others.
The pharmaceutical segment is estimated to gain a large revenue share of the market in the coming years due to the growing demand for the treatment of various chronic and infectious disorders. Furthermore, these capsules are more demanded by pharmaceutical manufacturers as they have quick absorption rate and better palatability.
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period owing to the increasing demand for the capsule-based nutraceuticals formulation.
Furthermore, the US and Canada have well-established healthcare infrastructure. In addition, several governments’ encouraging the international companies to invest in these two countries prove to be key drivers for the regional market growth.
The global empty capsules market has been segmented on the basis of
- Cardiac Therapy Drugs
- Anti-anemic Preparations
- Antibiotic & Antibacterial Drugs
- Antacids & Anti-flatulent Preparations
- Anti-inflammatory & Anti-rheumatic Drugs
- Cough & Cold Preparations
- Vitamin & Dietary Supplements
- Non-gelatin Capsules
- Gelatin Capsules
- Research Laboratories
- Cosmetics Industries
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Capsugel, Inc.
- Sunil Healthcare Ltd.
- ACG Associated Capsules Pvt. Ltd.
- CapsCanada Corp.
- JC Biological Technology Co. Ltd.
- Medicaps Ltd.
- Qualicaps, Inc.
- Patheon, Inc.
- Roxlor LLC
Some of the major players competing in the global empty capsules market are Capsugel, Inc.; Sunil Healthcare Ltd.; ACG Associated Capsules Pvt. Ltd.; CapsCanada Corp.; JC Biological Technology Co. Ltd.; Medicaps Ltd.; Qualicaps, Inc.; Patheon, Inc.; and Roxlor LLC.
In order to maintain the competitive positions in the market, major players are forming strategic alliances, launching new products, investing in R&D programs, and expanding their businesses across geographies.
For instance, Dr. Reddy Laboratories has received approval from the US Food and Drug Administration (FDA) in August 2020 to launch generic Penicillamine capsules in the US market for the treatment of Wilson's disease and cystinuria.