The global empty capsules market was valued at $2,382.7 million in 2020, and is projected to reach $5,230.4 million by 2030, registering a CAGR of 8.1% from 2021 to 2030.
Capsule is defined as the solid dosage in which active pharmaceutical ingredients (API) or inert substances are enclosed in soft or hard shell. Empty capsules are mostly made of gelatin. API is available in various formulations such as powder, semisolid mass, granules, and liquid. Capsules can be administered orally and vaginally. The capsule is easier to swallow as compared to other drug delivery forms such as a tablets.
Growth of the global empty capsules market is majorly driven by alarming increase in prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and gastrointestinal diseases; rise in government initiatives to spread awareness and promote advantages of nutraceuticals products; surge in number of capsule production; rise in expenditure on human healthcare services; and rise in adoption of gelatin capsules. For instance, according to the World Health Organization (WHO), in 2020, approximately 10 million deaths were reported due to cancer, globally. Healthcare supplements such as vitamin & minerals, herbs, and fibers are advised to patients having chemotherapy and radiation procedures to avoid side effects and strengthen their immune system. Moreover, in November 2021, ACG Capsules, one of the leading pharmaceutical companies, announced the launch of “ACG loves NOTHING”, which is a global nutraceutical campaign and aimed to enhance nutraceutical production through industry leading innovation and collaboration strategy.
Rise in number of geriatric population and surge in demand for vitamin and mineral supplements drive growth of the market. Geriatric population is more vulnerable to chronic diseases and osteoarthritis disease, which surge demand for various drug therapies and vitamins& minerals for better health outcomes. This surges need for empty capsule production and is expected to propel growth of the market.
Increase in development of the pharmaceutical sector and surge in need for immunity booster supplements are major factors that drive the global empty capsules market. Moreover, increase in number of clinical studies significantly contributes toward the market growth. Clinical studies aim to evaluate safety and efficacy of drugs enclosed in capsule. Rise in number of capsule manufacturing acts as a key driving force for expansion of the global market. For instance, Lonza, a multinational chemical and biotechnology company produced 230 billion capsules in 2020. Furthermore, rise in funds by government and private organizations to develop capsule manufacturing units are expected to boost the market growth. For instance, in November 2021, ACG, announced that it will invest $78.00 million (Rs 600 crore) to develop Asia’s largest capsule manufacturing unit in Maharashtra, India.
In addition, advancements in R&D activities in capsule drug delivery technology and rise in business expansion and partnership strategy are anticipated to provide lucrative opportunities for the market expansion. Moreover, in October 2020, Lonza, a multinational chemical and biotechnology company, announced the investment of $93 million in the capsule and health ingredients, which enable companies to expand its overall manufacturing capacity of capsule by 30 billion capsules, per year.
However, high cost of gelatin and lower availability of raw materials to manufacture gelatin are anticipated to hinder the market growth. On the contrary, rise in number of capsule manufacturing units, advancements of technology for development of wide range of range having different flavor, color &size, and increase in awareness among population about nutraceutical products augment growth of the empty capsules sector. This has further encouraged many key players to enter emerging markets, thus offering lucrative opportunities in the empty capsules market.
The global empty capsules market is segmented into product, raw material, therapeutic application, end user, and region. By product, the market is categorized into gelatin capsules and non-gelatin capsules. The gelatin capsules segment is further divided into hard gelatin capsules (HGC) and soft gelatin capsules (SGC). On the basis of raw material, it is categorized into pig meat, bovine meat, bone, hydroxypropyl methylcellulose (HPMC), and others.
Depending on therapeutic application, it is fragmented into antibiotic & antibacterial drugs, vitamin & dietary supplements, antacids & anti-flatulent preparations, cardiac therapy drugs, and others. Depending on end user, it is fragmented into pharmaceutical manufacturers, nutraceutical manufacturers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global empty capsules market are ACG Worldwide, Bright Pharma Caps Inc., CapsCanada Corporation, Lonza Group Ltd. (Capsugel), Medi-Caps Ltd., Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.), Roxlor LLC, Snail Pharma Industry Co. Ltd, Suheung Co., Ltd, and Sunil Healthcare Ltd.
Capsule is defined as the solid dosage in which active pharmaceutical ingredients (API) or inert substances are enclosed in soft or hard shell. Empty capsules are mostly made of gelatin. API is available in various formulations such as powder, semisolid mass, granules, and liquid. Capsules can be administered orally and vaginally. The capsule is easier to swallow as compared to other drug delivery forms such as a tablets.
Growth of the global empty capsules market is majorly driven by alarming increase in prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and gastrointestinal diseases; rise in government initiatives to spread awareness and promote advantages of nutraceuticals products; surge in number of capsule production; rise in expenditure on human healthcare services; and rise in adoption of gelatin capsules. For instance, according to the World Health Organization (WHO), in 2020, approximately 10 million deaths were reported due to cancer, globally. Healthcare supplements such as vitamin & minerals, herbs, and fibers are advised to patients having chemotherapy and radiation procedures to avoid side effects and strengthen their immune system. Moreover, in November 2021, ACG Capsules, one of the leading pharmaceutical companies, announced the launch of “ACG loves NOTHING”, which is a global nutraceutical campaign and aimed to enhance nutraceutical production through industry leading innovation and collaboration strategy.
Rise in number of geriatric population and surge in demand for vitamin and mineral supplements drive growth of the market. Geriatric population is more vulnerable to chronic diseases and osteoarthritis disease, which surge demand for various drug therapies and vitamins& minerals for better health outcomes. This surges need for empty capsule production and is expected to propel growth of the market.
Increase in development of the pharmaceutical sector and surge in need for immunity booster supplements are major factors that drive the global empty capsules market. Moreover, increase in number of clinical studies significantly contributes toward the market growth. Clinical studies aim to evaluate safety and efficacy of drugs enclosed in capsule. Rise in number of capsule manufacturing acts as a key driving force for expansion of the global market. For instance, Lonza, a multinational chemical and biotechnology company produced 230 billion capsules in 2020. Furthermore, rise in funds by government and private organizations to develop capsule manufacturing units are expected to boost the market growth. For instance, in November 2021, ACG, announced that it will invest $78.00 million (Rs 600 crore) to develop Asia’s largest capsule manufacturing unit in Maharashtra, India.
In addition, advancements in R&D activities in capsule drug delivery technology and rise in business expansion and partnership strategy are anticipated to provide lucrative opportunities for the market expansion. Moreover, in October 2020, Lonza, a multinational chemical and biotechnology company, announced the investment of $93 million in the capsule and health ingredients, which enable companies to expand its overall manufacturing capacity of capsule by 30 billion capsules, per year.
However, high cost of gelatin and lower availability of raw materials to manufacture gelatin are anticipated to hinder the market growth. On the contrary, rise in number of capsule manufacturing units, advancements of technology for development of wide range of range having different flavor, color &size, and increase in awareness among population about nutraceutical products augment growth of the empty capsules sector. This has further encouraged many key players to enter emerging markets, thus offering lucrative opportunities in the empty capsules market.
The global empty capsules market is segmented into product, raw material, therapeutic application, end user, and region. By product, the market is categorized into gelatin capsules and non-gelatin capsules. The gelatin capsules segment is further divided into hard gelatin capsules (HGC) and soft gelatin capsules (SGC). On the basis of raw material, it is categorized into pig meat, bovine meat, bone, hydroxypropyl methylcellulose (HPMC), and others.
Depending on therapeutic application, it is fragmented into antibiotic & antibacterial drugs, vitamin & dietary supplements, antacids & anti-flatulent preparations, cardiac therapy drugs, and others. Depending on end user, it is fragmented into pharmaceutical manufacturers, nutraceutical manufacturers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global empty capsules market are ACG Worldwide, Bright Pharma Caps Inc., CapsCanada Corporation, Lonza Group Ltd. (Capsugel), Medi-Caps Ltd., Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.), Roxlor LLC, Snail Pharma Industry Co. Ltd, Suheung Co., Ltd, and Sunil Healthcare Ltd.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an in-depth analysis of the global empty capsules market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global empty capsules market.
KEY MARKET SEGMENTS
By Product
- Gelatin Capsules
- Non-Gelatin Capsules
By Raw Material
- Pig Meat
- Bovine Meat
- Bone
- Hydroxypropyl Methylcellulose (HPMC)
- Others
By Therapeutic Application
- Antibiotic & Antibacterial Drugs
- Vitamin & Dietary Supplements
- Antacids & Anti-Flatulent Preparations
- Cardiac Therapy Drugs
- Others
By End User
- Pharmaceutical Manufacturers
- Nutraceutical Manufacturers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- ACG Worldwide
- Bright Pharma Caps Inc.
- CapsCanada Corporation
- Lonza Group Ltd. (Capsugel)
- Medi-Caps Ltd.
- Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.)
- Roxlor LLC
- Snail Pharma Industry Co. Ltd
- Suheung Co., Ltd
- Sunil Healthcare Ltd.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: EMPTY CAPSULE MARKET, BY PRODUCT
CHAPTER 5: EMPTY CAPSULE MARKET, BY RAW MATERIAL
CHAPTER 6: EMPTY CAPSULE MARKET, BY THERAPEUTIC APPILICATION
CHAPTER 7: EMPTY CAPSULE MARKET, BY END USER
CHAPTER 8: EMPTY CAPSULE MARKET, BY REGION
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- ACG Worldwide
- Bright Pharma Caps Inc.
- CapsCanada Corporation
- Lonza Group Ltd. (Capsugel)
- Medi-Caps Ltd.
- Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.)
- Roxlor LLCSnail Pharma Industry Co. Ltd
- Suheung Co., Ltd
- Sunil Healthcare Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | December 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 2382.7 million |
| Forecasted Market Value ( USD | $ 5230.4 million |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
