Empty capsules are commonly used as delivery vessels for active pharmaceutical ingredients, nutraceuticals, dietary supplements and other materials. The two basic types of empty capsules are gelatin capsules and non-gelatin capsules. Gelatin capsules are most widely used owing to their superior dissolution and absorption properties. These capsules are made from beef, pork or fish collagen and provide flexibility in dosing and ease of swallowing. The growing pharmaceutical industry has fueled the demand for empty capsules to produce various medicines.
The Global Empty Capsules Market is estimated to be valued at US$ 2.2 billion in 2024 and is expected to exhibit a CAGR of 6.3% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Empty Capsules are Capsugel, ACG Worldwide, Qualicaps, Suheung Capsule Co. Ltd and Shanxi GS Capsule.
Key opportunities in the Empty Capsules Market Trends include growing demand for vegetarian capsules and rising applications in functional food and nutraceuticals segment.
The global empty capsules market is witnessing high growth in emerging economies of Asia Pacific region due to increasing healthcare spending and rising generic drugs market.
Market drivers
The growing pharmaceutical industry globally has resulted in increased production of drugs requiring empty capsules for delivery. This has been a key driver for the empty capsules market. Further, increasing application of empty capsules in nutraceuticals and dietary supplements has also propelled the demand. With growing health consciousness, demand for supplements in capsule form has surged thereby augmenting market growth of empty capsules in the forecast period.
PEST Analysis
Political: Governments focus on regulations regarding product quality and safety.
Economic: Increasing healthcare spending boosts demand for pharmaceutical products driving empty capsule usage.
Social: Growth in self-medication and prevalence of lifestyle diseases requiring medication raise empty capsule consumption.
Technological: Advancements in capsule making machines enhances production efficiency. Digital tools for tracking inventory levels aid better supply chain management.
North America currently holds the largest share of the global empty capsules market in terms of value, where the United States accounts for the majority share. Growth is propelled by the presence of major pharmaceutical players and increasing R&D investment.
The Asia Pacific region is poised to be the fastest growing market for empty capsules globally through 2031. Rapid development of the pharmaceutical industry coupled with rising healthcare expenditure expands market opportunities in India and China. Growing geriatric population suffering from chronic illnesses also stimulates demand.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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