The Empty Capsules Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Empty Capsules Global Market Report 2024, The empty capsules market size has grown strongly in recent years. It will grow from $2.97 billion in 2023 to $3.25 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to changing consumer preferences, favorable economic conditions, impact of russia-ukraine war, industry entry barriers, geriatric population.
The empty capsules market size is expected to see rapid growth in the next few years. It will grow to $4.77 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to market size growth, market consolidation, ethical concerns and stringent regulations, increasing demand for nutraceuticals, market dynamics.. Major trends in the forecast period include product innovations, sustainable sourcing, use in vegetarian and vegan products, patient population and chronic disease treatments, regional dominance.
An increase in the prevalence of chronic diseases is expected to propel the growth of the empty capsules market going forward. Chronic disease often lasts for three months or longer and may worsen with time. The most prevalent chronic diseases are cancer, heart disease, stroke, diabetes, and arthritis. Empty capsules are used to deliver a variety of drugs without changing their formulation, these capsules are designed to ensure proper drug delivery while not interfering with any drug formulation. For instance, in January 2022, according to research published by the American Cancer Society, a US-based health organization, in the US, 609,360 cancer deaths and 1.9 million new cancer cases are anticipated in 2022. It is about 1,670 fatalities each day. Therefore, an increase in the prevalence of chronic diseases is driving the growth of the empty capsules market.
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The empty capsules market covered in this report is segmented –
1) By Type: Gelatin Capsules, Non-Gelatin Capsules
2) By Functionality: Immediate-release Capsules, Sustained-release Capsules, Delayed-release Capsules
3) By Application: Antibiotic and Antibacterial Drugs, Dietary Supplements, Antacid and Antiflatulent Preparations, Antianemic Preparations, Anti-inflammatory Drugs, CardiovascularTherapy Drugs, Cough and Cold Drug Preparations, Other Therapeutic Applications
4) By End-User: Pharmaceutical Industry, Nutraceutical Industry, Cosmetic Industry, Research Laboratories
Product innovations are a key trend gaining popularity in the empty capsules market. Major companies operating in empty capsules are developing new products to strengthen their position in the market. For example, in October 2021, CapsCanada, a Canada-based pharmaceutical company that develops empty capsules launched a new liquid-filled hard capsule manufacturing service. This aims for the development of full-scale production which is less complex and capital-intensive than manufacturing soft gels, with filling equipment available in all scales, from benchtop to production.
The empty capsules market report table of contents includes:
1. Executive Summary
2. Empty Capsules Market Characteristics
3. Empty Capsules Market Trends And Strategies
4. Empty Capsules Market – Macro Economic Scenario
5. Global Empty Capsules Market Size and Growth
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26. South America Empty Capsules Market
27. Brazil Empty Capsules Market
28. Middle East Empty Capsules Market
29. Africa Empty Capsules Market
30. Empty Capsules Market Competitive Landscape And Company Profiles
Top Major Players:
- CG Group
- CapsCanada Corporation
- HealthCaps India Limited
- Natural Capsules Ltd
- Bright Pharma Caps Inc
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