Growing Demand for Empty Capsules in The Nutraceutical Industry and Rising Adoption of Vegetarian Capsules Is Anticipated to Propel the Growth of The Global Empty Capsules Market at A CAGR of 7.8% During the Forecast Period, 2019-2026
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Global Empty Capsules Market accounted for a market value of $1.98 billion in 2019 and is anticipated to grow with a CAGR of 7.8% from 2019 to 2026.
North America is anticipated to be the prominent region in the global empty capsules market. The presence of capsule manufacturers like Capsugel, Bright Pharma Caps Inc., and CapsCanada Corporation with huge production capacities and a growing number of pharmaceutical companies manufacturing capsule-dosage forms are some factors propelling the market growth in the region. Asia Pacific region is projected to witness significant growth over the assessment period.
Growing Demand for Empty Capsules in The Nutraceutical Industry and Rising Adoption of Vegetarian Capsules Is Anticipated to Propel the Growth of The Global Empty Capsules Market at A CAGR Of 7.8% During The Forecast Period, 2019-2026
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The rising prevalence of chronic diseases in the aging population is a major driver for drugs being launched in capsules dosage forms as it becomes easier and convenient to use. In addition, pharmaceutical companies enter into partnerships with capsule manufacturers to utilize empty capsules in clinical trials as the trial procedure needs to offer a specific dose of the investigational drug molecule to the clinical trial subjects. In addition, HPMC and soft gelatin capsules are extensively utilized in dietary supplements, thereby, the increasing nutraceutical market is projected to support the growth of the market. Recently, the rising advancements in capsule delivery technologies such as the development of capsule -in- capsule technology is anticipated to propel the market growth. For instance, Capsugel commenced the lipid multi-particulate (LMP) technology.
In the past few years, the development of halal capsules and vegetable capsules is growing significantly. Muslim consumers prefer capsules produced from halal gelatin. Halal gelatin is obtained from the hides and bones of halal slaughtered animals. The halal gelatin capsules are becoming important in the pharmaceutical sectors in the Middle Eastern and Asian Countries having a huge Muslim population. In addition, vegetarian capsules are an apparent choice for both vegan and vegetarian consumers. This factor highlights the increasing demand for vegetarian capsules.
On the flip side, the ethical concerns associated with gelatin capsules, rising prices and less availability of raw materials, and the high price of vegetable capsules may hamper the market growth over the assessment period. The outbreak of swine and bovine diseases has led to the strengthening of regulatory guidelines on pig and bovine farmers, thereby increasing the cost of farming. In addition, the prices of feed have also increased. Moreover, various industries such as tanning, leather, and paper utilize bovine and pig skin for the production of commercial products. Thus, owing to the aforementioned factors the prices for gelatin has increased which in turn may negatively impact the gelatin empty capsules market.
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The global empty capsules market has been segmented into type, functionality, application, and end-user. The type segment has been bifurcated as gelatin capsules and non-gelatin capsules. The gelatin capsules segment has been sub-divided into pig meat gelatin, bone meal, bovine-derived gelatin, and others. The non-gelatin capsules have been segmented into Hydroxypropyl Methylcellulose (Hpmc) and Pullulan & starch material. Based on functionality, the market has been segmented into sustained-release capsules, immediate-release capsules, and delayed-release capsules. The application segment has been divided into dietary supplements, cough & cold drugs, antibiotic & antibacterial drugs, antacid & antiflatulent preparations, cardiovascular therapy drugs, and others. Further, the end-user segment has been divided into the nutraceutical industry, pharmaceutical industry, cosmetic industry, and research laboratories.
Based on geography, the global empty capsules market has been segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America has been classified into the U.S. and Canada. Europe region has been classified into the UK, France, Germany, Italy, and Rest of Europe. Asia-Pacific region has been divided into Japan, India, South Korea, China, and Rest of Asia-Pacific. Furthermore, the South America region has been segmented into Brazil, Mexico, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Africa, and the Rest of the Middle East.
North America is anticipated to be the prominent region in the global empty capsules market. The presence of capsule manufacturers like Capsugel, Bright Pharma Caps Inc., and CapsCanada Corporation with huge production capacities and a growing number of pharmaceutical companies manufacturing capsule-dosage forms are some factors propelling the market growth in the region. Asia Pacific region is projected to witness significant growth over the assessment period. Factor such as the presence of a huge patient base, growing healthcare expenditure, and an increasing number of pharmaceutical companies in the region contributes to the market growth in the region.
Prominent players functioning in the empty capsules industry include Qualicaps, ACG Worldwide, Capsugel (Lonza), CapsCanada Corporation, Suheung Co. Ltd, Qingdao Yiqing Medicinal Capsules Co., Ltd, Natural Capsules Ltd, Bright Pharma Caps Inc., Medi-Caps Ltd, Roxlor, Shanxi Guangsheng Medicinal Capsules Co., Ltd, and Nector Lifesciences Ltd. The market is consolidated in nature with few companies holding about 65% of the market share. In addition, market players are involved in strategies such as product launches, mergers, acquisitions, and expansion and building of manufacturing facilities to support its market presence. For instance, in February 2019, ACG Worldwide opened its new capsule manufacturing facility in Pouso Alegre-Minas Gerais, Brazil. With this, the company expanded its operation in Brazil. Likewise, in August 2018, Capsule Delivery Solutions (Lonza) launched a Capsugel Colorista product. It is an all-colorants formulation based capsule. With this launch, the company provided its pharmaceutical customers access to a variety of colored capsules available in Coni-Snap gelatin and Vcaps Plus. Similarly, in February 2018, ACG signed a memorandum of understanding (MoU) with Applied DNA Sciences, Inc. This MoU allows ACG to use Applied DNA Sciences, Inc.’s proven SigNature molecular tagging and authentication technologies for developing molecularly-tagged empty hard-shell capsules.