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Empty Capsules Market is projected to reach US$ 2.79 Billion by 2023 from an estimated US$ 1.95 Billion in 2018, at a CAGR of 7.4%. The growing adoption of capsule formulations among the growing geriatric population, the growth of the pharmaceutical market along with the increasing R&D activities & clinical trials, and advancements in capsule delivery technologies are the major factors driving the market for empty capsules.
Most Popular Companies in the Empty Capsules Market include are Capsugel (US), ACG Worldwide (India), Qualicaps (Japan), Suheung Co. Ltd. (South Korea), CapsCanada Corporation (Canada), Qingdao Yiqing Medicinal Capsules Co., Ltd. (China), Shanxi Guangsheng Medicinal Capsules Co., Ltd. (China), Healthcaps India Ltd. (India), Snail Pharma Industry Co. Ltd. (China), Roxlor (US), Sunil Healthcare Ltd. (India), Medi-Caps Ltd. (India), Nectar Lifesciences Ltd. (India), Natural Capsules Ltd. (India), and Bright Pharma Caps Inc. (US).
“The Non-gelatin Capsules Segment to Register the Highest CAGR During the Forecast Period.”
By Type, the empty capsules market is segmented into gelatin and non-gelatin capsules. The gelatin capsules segment is further subsegmented intopig meat gelatin, bovine-derived gelatin, bone meal, and other gelatin sources. The non-gelatin capsules segment is further divided into hydroxypropyl methylcellulose (HPMC) and pullulan & starch material.
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“Immediate-release Capsules Are Projected to Register the Highest Growth Rate Between 2018 & 2023.”
By Functionality, the empty capsules market is segmented into immediate-release, sustained-release, and delayed-release capsules. The immediate-release capsules segment is expected to witness the highest CAGR in the empty capsules market during the forecast period, owing to the widespread use of these capsules for the manufacture of antibiotics, antibacterials, antacids, painkillers, inhalators, cold and cough drug preparations, and dietary supplements.
“Dietary Supplements to Witness the Highest Growth Rate in the Forecast Period.”
By Application, the empty capsules market is segmented into antibiotic & antibacterial drugs, dietary supplements, antacid & ant flatulent preparations, antiemetic preparations, anti-inflammatory drugs, cardiovascular therapy drugs, cough & cold drugs, and other applications. The dietary supplements segment is expected to witness the highest CAGR during the forecast period. Factors such as increased health awareness and rising affordability in emerging countries (such as India, China, and Brazil), increasing prevalence of lifestyle diseases, and increasing use of vitamin capsules due to their availability as over-the-counter (OTC) drugs are contributing to the growth of this segment.
“Nutraceutical Industry to Be the Fastest-growing End-user Segment During the Forecast Period.”
Based on End User, the empty capsules market is segmented into the pharmaceutical industry, nutraceutical industry, cosmetic industry, and research laboratories. The nutraceutical industry segment is expected to witness the highest CAGR during the forecast period. The rising demand for nutraceutical products to prevent the occurrence of lifestyle-associated diseases (such as obesity, arthritis, high blood pressure, cholesterol, and diabetes) is supporting the growth of this segment.
“APAC to Witness the Highest Growth in the Empty Capsules Market During the Forecast Period.”
The Empty Capsules Market in the APAC is expected to witness the highest CAGR during the forecast period. The presence of many global capsule manufacturers in China and India, growth in the pharmaceutical and nutraceutical industries, the relatively less stringent regulations in the nutraceutical industry in this region, an increasing focus on generics, and rising healthcare awareness are expected to drive the adoption of empty capsules in the Asia Pacific.
Breakdown of primary participants’ profile:
- By Company Type: Tier 1: 48%, Tier 2: 34%, and Tier 3: 18%
- By Designation: C-level: 42%, Director-level: 40%, and Others: 18%
- By Region: North America: 38%, Europe: 25%, Asia Pacific: 30%, Latin America: 5%, and the Middle East & Africa: 2%
- To forecast the size of the market in five major regions North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To provide detailed information about the factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To profile the key players in the global market and comprehensively analyze their core competencies and market shares
- To track and analyze competitive developments of the leading players in the global market, such as acquisitions, product launches, expansions, collaborations, partnerships, and R&D activities
Target Audience for Empty Capsules Market:
- Hard gelatin capsule and non-gelatin empty capsule manufacturers
- Contract manufacturers of empty vegetarian capsules
- Pharmaceutical and nutraceutical R&D laboratories
- Pharmaceutical, nutraceutical, and OTC/cosmetic product manufacturers
- Pharmaceutical/medical associations
- Distributors and suppliers
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