Empty Capsules Market Projected To Reach Approximately $2.57 Billion By 2024: Grand View Research Inc.

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According to report published by Grand View Research, Key factors responsible for the growth include the increasing geriatric population, the high demand of empty capsules market in the pharmaceutical, nutraceutical, and cosmeceutical industries, and the growing consumer preference for capsules over tablets.

According to a new report,“Empty Capsules Market Analysis By Product (Gelatin, Non-Gelatin Capsules), By Therapeutic Application (Antibiotic & Antibacterial Drugs, Vitamin & Dietary Supplements, Antacids & Anti-flatulent Preparations, Anti-anemic Preparations, Anti-Inflammatory & Anti-rheumatic Drugs, Cardiac Therapy Drugs, Cough & Cold Preparations), By End-user(Pharmaceutical, Nutraceutical, Cosmetics Industries, Research laboratories) And Segment Forecasts To 2024”, published by Grand View Research, Inc., the global empty capsules market is expected to reach USD 2.57 billion by 2024. Key factors responsible for the growth are the increase in the geriatric population, proliferation of pharmaceutical, nutraceutical, and cosmeceutical industries, globally and the upsurge in the consumer preferences for capsules over tablets.

Key Takeaways from the report:

  • In 2015, the antibiotic and antibacterial drugs segment generated the largest revenue of USD 453.7 million owing to the surge in prevalence of a range of infectious diseases and chronic conditions worldwide. The vitamins and dietary supplements category is expected to exhibit the fastest growth rate of 7.8% over the forecast period.

  • Global efforts to reduce malnutrition and vitamin deficiencies by various social welfare organizations and government agencies are expected to boost the usage rates over the forecast period.

  • In 2015, North America dominated the empty capsules market with a revenue share of over 39.6% due to the high disease burden, the access to the latest drugs in this region, and the high consumption rate of nutraceutical and cosmeceutical products in this region. Increase in the geriatric population susceptible to varied conditions and disorders coupled with the burgeoning of various bacterial and viral infections is expected to improve the market penetration of various antibiotics, multivitamin supplements, and other drugs.

  • The Asia Pacific region is estimated to grow with the highest CAGR of 7.9% over the forecast period. The increase in healthcare expenditure and the rise in per-capita disposable incomes are expected to improve the overall access to healthcare facilities and medicines across several developing countries in this region. Moreover, the upsurge in the prevalence of infectious diseases and chronic conditions in this region are also expected to positively reinforce the market growth over the forecast period.

  • The market dynamics indicate the presence of strong competition amongst the key players, such as Capsugel, Inc., ACG Associated capsules Pvt. Ltd., JC Biological Technology Co. Ltd, CapsCanada Corporation, Medicaps Ltd., Qualicaps, Inc. (Mitsubishi Chemical Holdings Corporation), Patheon, Inc. (Banner Pharmacaps, Inc.), Roxlor LLC, Sunil Healthcare Ltd.(Sunloc Healthcare, Inc.), and Nectar Lifesciences Ltd.

  • Furthermore, the increase in the demand for generic drugs and contract manufacturing services is expected to open up new avenues for the market growth over the forecast period. 

North America Empty Capsules Market, by Application, 2013 – 2024 (USD Million)

North America Empty Capsules Market, by Application, 2013 - 2024 (USD Million)

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The rising geriatric population count and the associated chronic conditions are expected to heighten the demand for the production of capsule-centric medications in the pharmaceutical and nutraceutical application areas. Moreover, the benefits associated with capsule consumption, such as ease of swallowing, faster absorption rates, and increased palatability are also expected to contribute significantly to the expansion of the market over the forecast period. 

The mushrooming of the pharmaceutical, nutraceutical, and cosmeceutical industries is expected to serve as a high impact rendering driver for the empty capsules market over the forecast period. 

The nutraceuticals aid in the prevention of certain chronic conditions and hence the consumption of these products has significantly increased over the past few years. For instance, nutraceuticals, such as omega-3 fatty acids, help in the prevention of cardiovascular conditions and the heightened accessibility to these low-cost vitamin supplements has reduced the incidences of vitamin deficiencies. 

In 2015, the gelatin capsules segment accounted for the highest revenue of nearly USD 1,172.3 million. This high revenue share is attributed to the following factors: sufficient availability of gelatin for the production process and the cost-effectiveness of gelatin capsules as compared to non-gelatin capsules, such as Hydroxypropyl methylcellulose (HPMC) capsules and pullulan or starch material capsules. 

However, the non-gelatin capsules segment is expected to emerge as the fastest growing category with a CAGR of 6.9% from 2016 to 2024. With the source of the non-gelatin capsules being vegetarian, the religious and cultural issues experienced in connection with capsules containing animal-derived inactive ingredients can be evaded; this factor is estimated to be primarily responsible for the large consumer base of this market over the forecast period.  

Grand View Research has segmented the empty capsules market by product, therapeutic application, end user and region: 

Global empty capsules market, by product (USD Million, 2013 – 2024)

  • Gelatin Capsules

  • Non-Gelatin capsules

Global empty capsules market by therapeutic application (USD Million, 2013 – 2024)

  • Antibiotic and antibacterial drugs

  • Vitamin and dietary supplements

  • Antacids and antiflatulent preparations,

  • Antianemic preparations,

  • Anti-inflammatory and anti-rheumatic drugs,

  • Cardiac therapy drugs,

  • Cough and cold preparations

Global empty capsules market by end-user (USD Million, 2013 – 2024)

  • Pharmaceutical industries

  • Nutraceutical industries

  • Cosmeceutical industries

  • Research laboratories

Empty capsules market, by region (USD Million, 2013 – 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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