Number of pages: 120 | Report Format: PDF | Published date: 07 February, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021-2031
The global empty capsules market was pegged at US$ 2.15 billion in 2020 and is expected to witness a CAGR of 7.1% during the forecast period.
Empty capsules are soluble cases or containers in which medicines are filled. These capsules are generally used to store herbs, powders, and medicines. They are available in a variety of sizes ranging from 000 (largest) to size 5 (smallest). The capsules are also available in different colors and selected flavors.
Empty capsules are made from gelling agents such as animal protein or plant polysaccharides or their derivatives. Gelatin empty capsules are made from animal products such as collagen and these are most suitable for powdered formulations. Non-gelatin empty capsules are made from compounds such as cellulose or other plant products or derivatives. These are mostly suitable for semi-solid and gel formulations.
The global empty capsules market is mainly driven by the growing geriatric population with the increasing need for medicines, increasing R&D activities in the pharmaceutical industry, and advancements in capsule drug delivery technologies. However, ethical concerns, insufficient availability of raw materials (especially gelatin), and stringent regulations in the pharmaceutical industry are some of the factors restraining the market growth.
The global empty capsules market has been analyzed from five perspectives: Product, Functionality, Application, End User, and Region.
Empty Capsules Market by Product
Based on the product, the empty capsules market has been segmented into gelatin capsules and non-gelatin capsules. Gelatin capsules segment is further segmented into pig meat gelatin, bone meal, bovine-derived gelatin, and other gelatin sources. The non-gelatin capsules segment is further bifurcated into hydroxypropyl methylcellulose (HPMC) and pullulan & starch material. The non-gelatin capsules segment is anticipated to grow at a higher CAGR during the forecast period. Advantages of non-gelatin capsules such as greater resistance to humidity and heat, and growing demand for non-animal-based products are contributing to the growth of this segment.
Empty Capsules Market by Functionality
Based on the functionality, the empty capsules market has been segmented into immediate-release capsules, sustained-release capsules, and delayed-release capsules. The immediate-release capsules segment accounted for the largest share of the empty capsules market in 2020. Immediate-release capsules are among the most commonly prescribed by doctors as they start working quickly. Further, the immediate-release capsules are used for manufacturing of majority of antibiotics, painkillers, and dietary supplements. This factor is further driving the segmental growth.
Empty Capsules Market by Application
Based on application, the market has been segmented into antibiotic and antibacterial drugs; vitamins and dietary supplements; cough and cold drugs; antacid and antiflatulent preparations; antianemic preparations; anti-inflammatory drugs; cardiovascular therapy drugs; and other applications. Vitamins and dietary supplements segment is expected to grow at a higher CAGR during the forecast period. Factors such as the increasing prevalence of lifestyle diseases and rising health awareness among the population are propelling the segmental growth.
Empty Capsules Market by End User
Based on end-user, the empty capsules market has been segmented into the pharmaceutical industry, nutraceutical industry, cosmetic industry, and research laboratories. The nutraceutical industry is anticipated to grow at a higher CAGR during the forecast period. The growth of this segment can be attributed to factors such as changing lifestyles patterns, rising health consciousness among the population, and increasing consumption of nutraceutical products (particularly dietary supplements).
Empty Capsules Market by Region
Based on the region, the global empty capsules market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the global empty capsules market in 2020. The presence of big pharmaceutical companies with large manufacturing capacities and increasing demand for generics is attributing to the growth of the empty capsules market in this region. Moreover, greater health consciousness among Americans and increasing consumption of dietary supplements are further expected to fuel the market growth in this region.
Some of the prominent players operating in the global empty capsules market include:-