USD 2.70 billion
Empty Capsules Market Size, Share, Growth Analysis, By Product(Gelatine Capsules, and Non-gelatine Capsules), By Functionality(Immediate-Release Capsules, Sustained-Release Capsules, and Delayed-Release Capsules), By Application(Antibiotic and Antibacterial Drugs, Dietary Supplements, Antacid, and Antiflatulent Preparations), By End-use(Pharmaceutical Industry, Nutraceutical Industry, Cosmetic Industry and Research Laboratories), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2145 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
122
|Figures:
77
Empty Capsules Market Insights
Global Empty Capsules Market size was valued at USD 2.70 billion in 2022 and is poised to grow from USD 2.89 billion in 2023 to USD 4.96 billion by 2031, growing at a CAGR of 7% during the forecast period (2024-2031).
The surging prevalence of chronic diseases around the world and rising sales of pharmaceuticals are projected to drive the demand for empty capsules over the coming years. The growing geriatric population is also a key contributor to empty capsules market growth around the world. Rising use of advanced drug delivery technologies, high availability of new capsule delivery systems, and rising investments in pharmaceutical R&D are other factors that could also uplift sales of empty capsules across the forecast period and beyond. Targeting emerging countries where investments in healthcare infrastructure development are high will also be a key opportunity for empty capsule suppliers going forward. On the contrary, fluctuations in raw material pricing, competition from other drug delivery forms, and the complexity of capsule filling process are slated to be some key restraints slowing down empty capsules market development.
US Empty Capsules Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Gelatine Capsules
Fastest Growth
Gelatine Capsules
Growth Rate
7% CAGR
Global Empty Capsules Market ($ Bn)
Country Share for North America Region (%)
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Empty Capsules Market Segmental Analysis
The global empty capsules market is segmented based on product, functionality, application, end-use, and region. Based on product, the market is segmented into gelatine capsules, and non-gelatine capsules. Based on functionality, the market is segmented into immediate-release capsules, sustained-release capsules, and delayed-release capsules. In terms of application, the market is categorized into antibiotic and antibacterial drugs, dietary supplements, antacid, and antiflatulent preparations, antianemic preparations, anti-inflammatory drugs, cardiovascular therapy drugs, cough and cold drugs, and others. Based on end user, the market is categorized into pharmaceutical Industry, nutraceutical industry, cosmetic industry, and research laboratories. Regionwise, the global empty capsules market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Empty Capsules Market Analysis by Product
Gelatine capsules have been around for quite a while now and they are preferred by consumers as well as manufacturers. This is the key reason they account for a high share in this empty capsule market. High thermoreversability and easy dissolution of gelatine empty capsules are also key benefits that help them maintain their dominance over the coming years.
On the other hand, the demand for non-gelatine empty capsules for blood cancer applications is projected to surge at an impressive pace in the future. Growing demand for plant-based and vegan material capsules is projected to help this segment generate substantial revenue in the future. Increasing aversion to gelatine in different parts of the world owing to religious concerns and evolving consumer preferences will also boost sales of non-gelatine empty capsules going forward.
Empty Capsules Market Analysis by End User
The pharmaceutical industry is projected to spearhead the demand for empty capsules across the study period. Rapidly surging demand for drugs for treatment of various chronic diseases and increasing pharmaceutical production around the world are helping this segment maintain its high market share. High demand for delayed delivery drugs in the industry is also expected to help promote sales of empty capsules in the future.
Meanwhile, the demand for empty capsules in the nutraceutical industry is projected to rise at an impressive pace over the coming years. Increasing health consciousness among people around the world and the growing availability of nutraceuticals are also estimated to bolster empty capsules market growth going forward. Use of empty capsules for nutraceuticals will also increase as they make medication more palatable for consumption.
Global Empty Capsules Market By Product
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Empty Capsules Market Regional Insights
North America is projected to account for a dominant share of the global empty capsules market. Presence of key pharmaceutical companies, growing demand for novel drugs, and increasing prevalence of chronic diseases are key factors that help this region hold a dominant stance. The United States and Canada are slated to emerge as the most opportune markets in this region through 2031. High spending potential of consumers in this region will also play a critical role in driving the demand for empty capsules.
Asia Pacific is projected to emerge as the fastest-growing market for empty capsules companies in the world. Increasing health consciousness among consumers in this region coupled with rising investments in healthcare infrastructure development make this a highly opportune regional market. The low cost of manufacturing and changing consumer preferences is also estimated to promote sales of empty capsules in the Asia Pacific region. China, India, and Japan are estimated to be the leading markets in this region.
Global Empty Capsules Market By Region
- Largest
- Fastest
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Empty Capsules Market Dynamics
Empty Capsules Market Drivers
High Demand for Nutraceuticals and Supplements
- Consumption of dietary supplements, nutraceuticals, and pharmaceuticals is increasing around the world owing to high prevalence of chronic diseases and rising health consciousness. Use of empty capsules for the delivery of these nutraceuticals and drugs will promote market growth in the future.
Advancements in Capsule Delivery Systems
- Capsule delivery technologies have advanced substantially in recent years, and this has resulted in the creation of novel capsules capable of delayed delivery, acid resistance, and other advanced delivery techniques. Growing availability of these features in empty capsules will also bolster market development.
Restraints
Fluctuations in Raw Material Pricing
- Raw materials required for capsule manufacturing are subject to multiple factors such as trade regulations, economic uncertainty, and disruptions in supply chain to name a few. All of these factors result in fluctuating prices of raw materials that slow down empty capsule demand to a certain extent.
Complexity in Capsule Filling
- Filling up empty capsules requires specialized equipment and is often seen as a highly complex procedure, which can be further complicated depending on the form of capsule components. This complex capsule filling procedure could result in a drop of sales of empty capsules.
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Empty Capsules Market Competitive Landscape
Investing in the development of empty capsules with different raw materials to satisfy different consumer demands will provide new business scope for empty capsules companies. Targeting emerging countries with increasing sales of supplements and pharmaceuticals will be a key strategy for all empty capsules providers. New product launches and collaborations are slated to be preferred strategies for empty capsules companies looking to enhance their overall market presence.
Top Player’s Company Profiles in Empty Capsules Market
- Capsugel
- ACG Worldwide
- Suheung Co., Ltd.
- Qualicaps, Inc.
- Farmacapsulas S.A.
- Medi-Caps Ltd.
- Roxlor LLC
- Snail Pharma Industry Co., Ltd.
- Sunil Healthcare Ltd.
- Bright Pharma Caps, Inc.
- Natural Capsules Ltd.
- JC Biological Technology Co., Ltd.
- Shanxi Guangsheng Medicinal Capsule Co., Ltd.
- Healthcaps India Limited
- CapsCanada Corporation
- Lefancaps® Capsule
- Healsee Capsule Co., Ltd.
- Shanghai Honglian Medical Tech Group Co., Ltd.
Empty Capsules Market Recent Developments
- A new line of empty capsules was launched by Vivion Inc. Back in February 2023. The new range of two-piece capsules is ideal for multiple applications and features empty gelatin, HPMC and pullulan capsules.
- A new titanium oxide-free capsule was launched by Lonza back in May 2022 after titanium oxide use as a food additive was banned in the European Union. The new capsules are hard gelatine capsules suitable for European end users looking to navigate the ban.
- In April 2021, CapsCanada Corporation announced the launch of its new Vcaps Plus HPMC capsules, which are designed to improve the stability and bioavailability of pharmaceutical and nutraceutical products.
Empty Capsules Key Market Trends
- Vegan and Plant-based Capsules: Most capsules used currently are made from synthetic or animal-based materials. As popularity of veganism and plant-based food products increases around the world it is also expected to create new opportunities for empty capsules companies using plant-based materials for their offerings going forward.
- Sustainable Packaging: Empty capsules companies can focus on using sustainable packaging for their products to maximize their business scope in the future. Growing environmental consciousness among people around the world is slated to bolster awareness regarding sustainability, thereby providing lucrative business for empty capsules companies focusing on the same.
Empty Capsules Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, growing prevalence of chronic diseases and rising demand for nutraceuticals are projected to drive empty capsules market development. However, complexity of capsule filling and fluctuations in raw material pricing are forecasted to slow down empty capsules demand outlook in the future. North America is slated to hold a dominant share of the global empty capsules market owing to the high spending potential of consumers in this region. Developing and providing vegan and plant-based empty capsules will pay off big time for market players in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.70 billion |
| Market size value in 2031 | USD 4.96 billion |
| Growth Rate | 7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Empty Capsules Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Empty Capsules Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Empty Capsules Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Empty Capsules Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Empty Capsules Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Empty Capsules Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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