Empty Capsules Market to Reach USD 3,745.5 Million by 2026 at a CAGR 7.4%

Fri, 16 August 2019 7:06

Capsules are a preferred dosage form across all the demographic subsets following its ease of handling and swallowing, palatability, and consumer compliance. Increasing innovations in the pharmaceutical industry is further adding fuel to the market growth. For instance, as of 2018, nearly 7,000 medicines under clinical development globally, Pharmaceutical Research and Manufacturers of America (PhRMA). As per U.S. FDA analysis, the number of drugs approved for capsule dosage forms has increased from 53 to 110. Moreover, across phase I to phase III clinical studies, nearly 35,000 participants are using capsules as a preferred dosage form.

Capsules are popular among the manufacturers as it allows flexibility in the formulation. Encapsulation, as a better technology, has been preferred to formulate complex molecules as it allows the filling of granules, powder, liquids, and pellets.  A hard gel tin capsule is considered as a flexible dosage form because it simplifies the testing of drug candidates and reduces the concerns of compressibility.

 Ongoing Trend of Veganism to Drive the Demand for Non-Gelatin Capsules

Global empty capsules market has been segmented by type, application and end user. Non-gelatine capsules segment is expected to grow at the fastest CAGR till 2026. The key factor attributed to this is an upward trend towards consumption of vegan products. For instance, in the U.K, production of vegan products increased to 600,000 in 2017. Additionally, in response to the growing trend of vegan products, nutrition supplement manufacturers have started manufacturing vegan supplements. Moreover, government of various countries are taking initiatives to replace gelatine with cellulose in the capsule formulations.

Preventive Healthcare to Boost the demand for Nutrition Supplements and Nutraceuticals

Based on application, the empty capsules market has been segmented into antibiotic and antibacterial drugs, vitamins and dietary supplements, antacid and antiflatulent preparations, antianemic preparations, anti-inflammatory and anti-rheumatic drugs, cardiac therapy drugs, and cough and cold preparations. Antibiotic and antibacterial drugs segment was leading the market in 2018 and is expected to continue the same in the coming years. On the other hand, vitamin and dietary segment is expected to grow at the fastest CAGR during the forecast period.

By end user, the market is segmented into pharmaceutical, nutraceutical and cosmetics.
Growing trend of preventive healthcare, rising awareness of benefits of nutraceuticals, and rising disposable income are driving the growth of the pharmaceutical industry. In line with the consumer demand, manufacturers of nutraceuticals are formulating the products in capsule dosage form, which in turn, is driving the market growth.

Asia Pacific to Emerge as the Fastest Growing Market over the Forecast Period

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Asia Pacific market is majorly driven by countries such as Japan, China, India, and Australia as a result of rising geriatric population, increasing chronic disease burden, and proliferating pharmaceutical industries in the region.  India pharmaceutical market is expected to grow at a CAGR of over 16% till 2020. Moreover, Indian pharmaceutical manufacturers are increasingly investing in developing new pharmaceutical therapies. For instance, in 2017, an Indian pharmaceutical company received 304 Abbreviated New Drug Application (ANDA) approval from the U.S. FDA.

Europe is second leading empty capsules market. Increasing geriatric population is responsible for the market growth. For instance, it is estimated that geriatric population in this region is expected to grow from nearly 17% in 2013 to around 30% by 2050. Moreover, Europe is one of the largest consumers of dietary supplements. According to the National Diet and Nutrition Survey, over 30% of adults aged between 19 and 64 years consumes dietary products every day. In addition, under-nutrition and associated complications cost approximately 120 billion Euros to the European health and social care systems. Increasing trend of consuming vegan products in the region is further expected to offer market opportunities for vegetarian capsules.

Fragmented Nature of the Market Offers Low Entry Barriers for the New Entrants

 ACG (India), Bright Pharma Caps Inc. (U.S.), CapsCanada (Canada), Lonza (Switzerland), Medi-Caps Ltd. (India), and Mitsubishi Chemical Holdings Corporation (Japan), Roxlor (U.S.) are some of the key players operating in the global empty capsule market.

The fragmented nature of the market offers low entry barriers. Thus, the existing players are adopting new strategies to maintain their market position. Some of them are increasingly investing in expanding their production capacity and collaborating with other players and pharmaceutical or nutraceutical manufacturers to maintain the market competitiveness.

" Crucial Insights The Report Provides:"

* Known and Unknown Adjacencies Influencing the Growth of Market

* Explorable Revenue Sources

* Customer Behaviour Analysis

* Target Partners

* Customized Geographical Data Based on Customers as well as Competitors

* Analysis of Market Size and CAGR between the Forecast Periods

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