The global empty capsules market is estimated to reach USD 2.13 billion by 2021, growing at a CAGR of 7.2% during the forecast period (2016–2021). The factors driving this market are rapidly increasing aging population, growing consumer preference towards capsule-based formulations, and rising applications in the pharmaceutical and nutraceutical industries. On the other hand, factors such as rising raw material prices of empty capsules, stringent regulatory frameworks, and religious as well as cultural practices are hindering the growth of this market to a certain extent. However, the growing demand for non-gelatin-based capsules and the rapidly expanding pharmaceutical industry in emerging countries such as India and China offer significant growth opportunities for players in this market.
This report segments the empty capsules market on the basis of products, therapeutic applications, end users, and regions.
The product segment of the empty capsules market is further divided into gelatin and non-gelatin capsules. Gelatin capsules held the largest share of the global empty capsules market in 2015. The large share of this segment can primarily be attributed to the extensive usage of hard gelatin capsules as a simple form for oral drug delivery as well as for it targeted drug-release properties. The non-gelatin capsules segment is estimated to grow at the highest CAGR during the forecast period. 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.
The therapeutic applications segment is further categorized into antibiotic and antibacterial drugs, vitamins and dietary supplements, antacid and ant flatulent preparations, anemic preparations, anti-inflammatory and anti-rheumatic drugs, cardiac therapy drugs, cough and cold preparations, and other therapeutic applications. In 2015, the antibiotic and antibacterial drugs segment held the largest share in the global empty capsules therapeutic applications market.
Based on end users, the market is further segmented into the pharmaceutical industry, nutraceutical industry, cosmetics industry, and research laboratories. The pharmaceutical industry accounted for the largest share of the empty capsules market in 2015.
On the basis of regions, the empty capsules market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America accounted for the largest share of the global empty capsules market. Asia-Pacific is expected to witness the fastest growth during the forecast period. However, scarcity of raw materials for gelatin manufacturing and the subsequent increase in prices of gelatin may affect the growth of the empty capsules market in the Asia-Pacific region in the coming years.
The key players in this market are ACG Worldwide (India), Capsugel (U.S.), CapsCanada Corporation (Canada), Qualicaps, Inc. (U.S.), Suheung Co., Ltd. (Korea), Medi-Caps Ltd. (India), Roxlor LLC (U.S.), Bright Pharma Caps (U.S.), Snail Pharma Industry Co., Ltd. (China), and Sunil Healthcare Ltd.(India).
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market, share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for increasing their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the empty capsules market. The report analyzes the empty capsules market by product, therapeutic application, end user, and region
- Product Development/Innovation: Detailed insights on the upcoming trends, research and development activities, and new product launches in the empty capsules market
- Market Development: Comprehensive information about the lucrative emerging markets, by product and region
- Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the empty capsules market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the empty capsules market