Empty Capsules Market

Empty Capsules Market Size (2022 to 2027)

The global empty capsules market is estimated at USD  1812.7 million in 2022. It is forecasted to be growing at a CAGR of 7.57% to reach USD 2610.9 million by 2027.

Empty capsules can be stored with herbs, powders, or medicines in a specific dosage form. In addition, the empty capsule can be available in different colors with various flavors. These are very popular due to their high absorption rates.

COVID-19 impact on the Empty Capsules market:

The COVID-19 pandemic positively influences the Global Empty capsules market, and the market's growth rate has escalated in recent times to new heights. There is a massive demand for vitamin supplements from people across the globe. Creating awareness of the benefits of boosting immunity by taking dietary supplements and exercising regularly, the empty capsules' market size has seen furious growth from the start of 2020. Focusing on bringing herbals with the empty capsule during the global outbreak also highlights the market demand. In the COVID-19 fight, vitamins and other herbal medicines are taking center stage. Therefore, the empty capsules market will steady even after the COVID-19 crisis.

MARKET DRIVERS:

An increasing number of COVID-19 cases across the world is adding fuel to the growth rate of the empty capsules market owing to the increased need for empty capsules to handle the growing cases. In addition, the rise in the prevalence of dietary supplements to boost immunity is also an attribute enhancing the market's growth rate. According to the council for a responsible nutrition survey, in the U.S., more than 170 million people are taking dietary supplements where multivitamins, vitamin D, vitamin C, and Vitamin B/B complex are effective supplements.

Besides, ongoing research on developing quality empty capsules with support from government organizations accelerates the market's growth rate to the extent. Furthermore, a growing number of chronic incidences worldwide are increasing the demand for empty capsules. In addition, increasing pressure on clinical trial studies to introduce a vaccine for COVID-19 diseases enormously makes the market growth moving forward. 

MARKET RESTRAINTS:

The shortage of skilled labor in the laboratories, coupled with the stringent rules and regulations by government authorities to approve only high-quality medicines, is hampering the empty capsule market's growth. Furthermore, the availability of other drugs at lower prices and fluctuations in the raw materials costs are also factors hindering the market growth. In addition, religious issues are also restraining market growth attributes. Along with this, the lack of knowledge about the usage of these products in rural areas is slowly limiting the empty capsules market's growth rate.

REPORT COVERAGE:

This research report on the global empty capsules market has been segmented & sub-segmented based on the product, therapeutic application, end-user, and region.

Empty Capsules Market – By Product:

• Gelatin Capsules
• Non-Gelatin Capsules

Based on the product, the gelatin capsules segment is expected to grow at a significant CAGR during the forecast period. Increasing the geriatric population and the rise in the adoption of these capsules by older people are surging the demand for this segment. The non-gelatin capsule segment is projected to have the highest CAGR in the coming years.

Empty Capsules Market – By Therapeutic Application:

• Antibiotic and Antibacterial Drugs
• Antacid and Ant Flatulent Preparations
• Anti-Anemic Preparations
• Anti-Inflammatory Drugs
• Cardiovascular Therapy Drugs
• Dietary Supplements and Vitamins
• Cough and Cold Preparations
• Other Therapeutic Applications

Based on therapeutic application, the dietary supplements and vitamins segment is thriving to have the most significant market share with the rising demand for these supplements due to COVID-19 disease. The antibiotic and antibacterial drugs segments also account for a substantial share in the global empty capsules market due to increasing incidences of various health problems. The cough and cold preparations category also has significant growth opportunities in the coming years.

Empty Capsules Market – By End User:

• Pharmaceutical Industry
• Cosmetics Industry
• Nutraceutical Industry
• Research Laboratories

The pharmaceutical industry segment has been growing with the dominant share of the market over the past few years. The increasing scale of pharmaceutical industries worldwide is increasing demand for this segment. The cosmetic industry is positioned second in leading the market's dominant shares owing to a rise in the prevalence of using cosmetic products with herbals. The nutraceutical industry and research laboratories are expected to have a slight growth rate in the future. 

Empty Capsules Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Regionally, North America is ruling the global empty capsules market with the highest shares in many years and can also stand at the top position in the coming years. Increasing incidences of cardiovascular diseases due to lifestyle change greatly influence the market's growth rate. Also, adopting the latest technologies and launching innovative products in favor of the end-users elevate the market's growth rate. The U.S is leading with the dominant shares in this region owing to the rising number of pharmaceutical industries and the easy availability of skilled people in research centers. Canada is next to the U.S in dominating the shares. 

Europe accounted for a substantial share of the global empty capsules market in 2021. Due to their easy absorption rate, the growing demand for empty capsules boosts the market's growth. In addition, an increasing number in the patient pool is also a driving factor for the market. Germany and UK occupied over 40% of the share of the European market in 2021 due to the increased support from private and public organizations. 

Asia Pacific is deemed to have the highest CAGR in the forecast period. India and China are the major countries contributing the most significant share of the market. The rising population and growing awareness over empty capsules are leveling up the demand in this market. Besides, constant economic growth in developed countries elevates the market's growth rate in the Asia Pacific. 

KEY MARKET PLAYERS:

Notable market participants in the global empty capsules market profiled are Capsugel, ACG Worldwide, Suheung Co Ltd., Bright Pharmacaps Inc., Capscanada Corporation, Medi-Caps Ltd., Qualicaps, Roxlor, LLC, Snail Pharma Industry Co., Ltd, and Sunil Healthcare Limited.

RECENT HAPPENINGS IN THIS MARKET:

• On June 19, 2018, Lonza’s Capsule Delivery Solutions, a leading company in pharmaceutical, launched a new specialty polymer capsule named Capsugel Vcaps. It is a high-quality medicine that extended the company's portfolio in the market. 
• In August 2018, Capsugel Colorista was launched by Lonza’s Capsule Delivery Solutions, which is highly unique in compatibility testing. It is a user-friendly capsule where the user can choose a color from a wide array. These are available in the Vcaps® Plus (HPMC) and Coni-Snap® gelatin.