CAGR: 7.10%Current Market Size: USD 2.1 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global empty capsules market is expected to grow from USD 2.1 billion in 2022 to USD 3.63 billion by 2030, at a CAGR of 7.10% during the Projection period 2023-2030. The growth of the empty capsules market is mainly driven by the geriatric population.
Capsules are solid forms of pharmaceutical doses that contain medications or a combination of drugs to treat a certain ailment or disease in the human body. Empty capsules are most commonly used to store drugs, herbs, powders, and medications. Capsules are favored by the elderly population over pills because they are easier to swallow. Pharmaceutical producers use empty capsules to create medicines and put them in these capsules. The capsule shells are often made of gelatin or non-gelatin materials such as HPMC, pullulan, and starch. The empty capsules are available in a variety of shapes, colors, and sizes. Aside from this, hard gelatin capsules comprised of purified water and gelatin are also available. The increased prevalence of chronic diseases such as cardiovascular disease, diabetes, cancer, and gastrointestinal ailments is propelling market expansion. The pharmaceutical sector benefits from lower-cost empty capsules from emerging markets, which aids market expansion. According to WHO, numerous types of chronic diseases, such as cancer, cardiovascular diseases, diabetes, and respiratory diseases, were responsible for the greatest number of fatalities in 2021, leading to an increase in R&D for the creation of medications to cure these diseases at a lower cost.
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Market Dynamics:
Drivers:
The growing senior population is more prone to chronic diseases. To avoid these ailments, they require immunity boosters and dietary supplements in capsule form to raise the power of the elderly population, fueling the growth of the empty capsules market. Soft gelatin capsules are filled with immune boosters, healthcare goods, and dietary supplements, driving the expansion of the empty capsules industry.
Restraints:
Manufacturers of gelatin capsules have experienced hurdles over the years as raw materials have become more scarce. Gelatin capsules are made from basic materials such as bones, bovine hide, and pigskin. However, the government-imposed restriction on cattle slaughters restricted the number of raw materials available, limiting market expansion.
Opportunities:
Many important market participants and pharmaceutical manufacturers are aiming to increase the volume of production of capsules as well as infrastructure plants in rising markets such as India and China, which is a huge opportunity for market growth. Investments in production expansion are assisting in the reduction of capsule prices.
Challenges:
When there is a scarcity of raw materials, prices rise automatically. Gelatin is rapidly being used in the nutraceutical, cosmetic, food processing, leather, paper manufacturing, and dying and tanning industries. The usage of gelatin in the food production business has expanded sixfold in recent years, causing raw material prices to skyrocket, posing a threat to the market's growth.
Segmentation Analysis:
The global empty capsules market has been segmented based on product type, application, end-user, and region.
By Product Type
The product type segment is gelatin capsules and non-gelatin capsules. The gelatin segment led the largest share of the empty capsules market with a market share of around 55.87% in 2022. TMS machines are frequently used when other depression treatments have failed. Additionally, administering medications that function as antidepressants increases the efficacy of treating depression without raising the risk of clinically significant adverse events, making it the most profitable form of treating depression.
By Application
The application segment is vitamin & dietary supplements, antacids & anti-flatulent preparations, cardiac therapy drugs, antibiotic & antibacterial drugs, and others. The cardiac therapy drugs segment led the largest share of the empty capsules market with a market share of around 38.3% in 2022. Cardiovascular diseases (CVD) are quite common worldwide. According to the World Health Organization 2019, an estimated 17.9 million people die each year as a result of cardiovascular diseases worldwide, with the figure anticipated to rise to more than 23.6 million by 2030. Furthermore, according to the American Heart Association Research Report 2020, cardiovascular disease is the leading cause of death in the United States, accounting for almost 2,353 deaths each day, or one death every 37 seconds. In addition, according to the British Heart Foundation Centre, 7.6 million people in the United Kingdom were living with heart and circulation disorders in 2021. Every year, more than 40,000 people under the age of 75 in the United Kingdom die from heart and circulation disorders.
By End-User
The distribution channel segment is pharmaceutical manufacturers, nutraceutical manufacturers, and others. The pharmaceutical manufacturers segment led the largest share of the empty capsules market with a market share of around 36.87% in 2022. The capsules are the most popular solid dosage forms for a variety of reasons, including improved palatability and a faster absorption rate, which accounts for the highest demand in the pharmaceutical sector for the treatment of a wide range of chronic and infectious disorders.
Global Empty Capsules Market - Sales Analysis.
The sale of the empty capsules market expanded at a CAGR of 6.1% from 2016 to 2022.
The growing elderly population, as well as the related chronic conditions, creates a strong demand for the development of therapeutically effective drugs to treat chronic health issues. Capsules in solid dosage forms are mainly favored by the geriatric population for the following reasons: they are easy to swallow, have faster dissolution times than other oral dosage forms, and produce less gastrointestinal irritation. Most users like the capsules because of their fast disintegrating nature, which results in faster absorption rates, and the usage of tasteless and odorless gelatin coating, which makes these capsules pleasant. The majority of nutraceuticals and cosmeceuticals, such as cod liver oil capsules and CosmoPod capsules, are favored in capsule form.
The advantages described above are responsible for the strong global demand for empty capsules in the pharmaceutical, nutraceutical, and cosmeceutical industries.
Thus, owing to the aforementioned factors, the global empty capsules market is expected to grow at a CAGR of 7.10% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the empty capsules market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the empty capsules market and held a 37.5% share of the market revenue in 2022.
Global Empty Capsules Market- Country Analysis:
Germany's empty capsules market size was valued at USD 0.15 billion in 2022 and is expected to reach USD 0.26 billion by 2030, at a CAGR of 7.2% from 2023 to 2030. The increased emphasis on manufacturing generic and improved pharmaceutical goods has also resulted in increased demand for the empty capsules market. The region's growing advancement in capsule medicine production technologies is also fueling regional growth.
China’s empty capsules market size was valued at USD 0.16 billion in 2022 and is expected to reach USD 0.28 billion by 2030, at a CAGR of 7.5% from 2023 to 2030. The market for empty capsules can be attributable to major capsule producers with substantial production capacities. In addition, the region is home to significant pharmaceutical industries, which are the largest consumers of these empty capsules.
India's empty capsules market size was valued at USD 0.12 billion in 2022 and is expected to reach USD 0.21 billion by 2030, at a CAGR of 7.4% from 2023 to 2030. The health-focused trends found in the Indian markets are the primary drivers of this expansion. Consumption of these nutraceuticals has increased since they aid in the prevention of significant health problems such as obesity, cancer, and arthritis. Because capsules are the most popular solid oral dose form, there is a strong need for empty capsules in the nutraceutical industry in this region.
Key Industry Players Analysis:
To increase their market position in the global empty capsules market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
7.10% |
Market Size |
2.1 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Application, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Suheung Co., Ltd, ACG Worldwide, Roxlor LLC, Snail Pharma Industry Co. Ltd, Bright Pharma Caps Inc., Lonza Group Ltd. (Capsugel), CapsCanada Corporation, Medi-Caps Ltd., and Sunil Healthcare Ltd. |
By Product Type |
|
By Application |
|
By End-User |
|
Regional scope |
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Scope of the Report
Global Empty Capsules Market By Product Type:
Global Empty Capsules Market By Application:
Global Empty Capsules Market By End-User:
Global Empty Capsules Market By Region:
Global empty capsules market is expected to reach USD 3.63 billion by 2030.
The empty capsules market is projected to have a CAGR of 7.10%.
Leading market players active in the global empty capsules market are Capsugel, Inc., Qualicaps, Inc. (Mitsubishi Chemical Holdings Corporation), ACG Associated Capsules Pvt. Ltd., CapsCanada Corporation, JC Biological Technology Co. Ltd, Medicaps Ltd., Patheon, Inc. (Banner Pharmacaps, Inc.), Roxlor LLC, Sunil Healthcare Ltd.(Sunloc Healthcare, Inc.) among other
The growing senior population, is more prone to chronic diseases. To avoid these ailments, they require immunity boosters and dietary supplements in capsule form to raise the power of the elderly population, fueling the growth of the empty capsules market. Soft gelatin capsules are filled with immune boosters, healthcare goods, and dietary supplements, driving the expansion of the empty capsules industry.
Political Factors- empty capsules market should thoroughly analyze industry-specific taxation rules when making expansion decisions. Taxation policies will be more favourable to industries that are high on the government's priority list. Many developing countries' governments are currently interested in lowering business taxes in order to attract foreign direct investment. empty capsules market should explore these nations since the low tax rate will make it easier to produce profits and invest in innovation, new products, and research and development activities.
Economic Factors- When deciding on worldwide expansion, the empty capsules market should consider the countries' economic growth rates. Countries with strong rates of economic growth give more opportunity to pursue long-term growth goals. A slow rate of economic growth leads to more cautious consumer purchasing, which can have a direct impact on the empty capsules market's revenue growth. Rising inflation can have a negative impact on the empty capsules market's revenue growth since it reduces the purchasing power of money and inhibits consumer spending on products and services.
Social Factors- The gender role in that society is another key issue to consider while designing company strategies. In a highly patriarchal culture, marketing and advertising methods would be changed in accordance with prevailing patriarchal values; otherwise, the empty capsule market may face consumer and general society reaction. Gender roles in that society may also impact the empty capsules market's human resource management methods, since the company may find it difficult to ensure gender diversity across all management levels in countries where women are largely responsible for handling home chores.
Technological Factors- The research and development trend in the chosen industry/region demonstrates enterprises' proactiveness in introducing innovative solutions to meet the needs of consumers. empty capsules market, on the other hand, must improve its knowledge of how emerging technical breakthroughs can benefit the company in addition to delivering value for customers. In markets defined by disruptive technologies, significant investment in research and development efforts would be necessary. However, the empty capsules market must have a long-term perspective and not expect a quick return on its research and development activities.
Environmental Factors- Renewable technologies that lessen reliance on natural resources have developed as a prominent trend in a variety of industries. To capture this environmental trend, the empty capsules market should assess the extent to which a country's technology infrastructure enables the usage of renewable technologies. Governments in certain parts of the world provide lucrative subsidies for the use of renewable energy sources. empty capsules market can invest in renewable energy sources to achieve long-term corporate development goals by taking advantage of this opportunity.
Legal Factors- Compliance with employment rules can assist the empty capsules market in building its employer brand image, which is critical for attracting and maintaining top personnel in the market amid the current talent war. Strict adherence to intellectual property rules makes the business environment safer for companies like the empty capsules market, since their patents are safeguarded from copying, resulting in long-term competitive advantage.
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