Market Overview:
Empty capsules are used for encapsulating both pharmaceutical and nutraceutical products for oral administration. They provide ease of swallowing, enhanced bioavailability and accurate dosing of therapeutic agents.
The global Empty Capsules Market is estimated to be valued at US$2.3 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Plant-based capsules is one of the emerging trends in the empty capsules market. Consumers are becoming increasingly aware of the benefits of plant-based products. Plant-based capsules are mainly made from materials such as cellulose and hypromellose. They are non-GMO, gluten-free and dissolves easily in the stomach. Plant-based capsules are gaining acceptance among vegan and vegetarian consumers as an alternative to gelatin capsules. Their growing popularity can be attributed to rising demand for natural and sustainable products.
Segment Analysis
The global empty capsules market is segmented into gelatin and non-gelatin capsules. Gelatin capsules dominates the empty capsules market and accounts for over 75% market share owing to its easy availability, low cost, and high stability. Gelatin capsules are suitable for both, hydrophilic and lipophilic drugs and offer optimal release profiles.
Key Takeaways
The global empty capsules market is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing prevalence of chronic diseases and growing adoption of capsule formulations across the pharmaceutical industries.
Regional analysis
North America dominates the global empty capsules market and accounts for over 35% of the market share. This is attributed to presence of major capsule manufacturers, increasing R&D activities in pharmaceutical drug development, and rising demand for various capsule drug delivery formulations. Asia Pacific exhibits the fastest growth in empty capsules market over the forecast period owing to expanding pharmaceutical manufacturing industry, increasing healthcare expenditure, and growing medical advancements in countries such as India and China.
Key players
Key players operating in the empty capsules market are ACG Worldwide, Capsugel, Qualicaps Inc., Bright Pharma Caps Inc., Sunil Healthcare Ltd., CapsCanada Corporation, Roxlor LLC, Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Medi-Caps Ltd. The global empty capsules market remains highly consolidated with top five players accounting for over 60% of the overall market share. Major players are engaged in new product launches, expansion of production facilities and acquisition strategies to strengthen their global foothold.
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