The major factors that are expected to be driving the empty capsules market are the growing adoption of capsule formulations among the growing geriatric population, the growth of the pharmaceutical market with the increasing R&D activities & clinical trial studies, and the advancements in capsule delivery technologies. The objective of the report is to define, describe, and forecast the empty capsules market size based on type, functionality, application, end user, and region.
[206 Pages Report] MarketsandMarkets forecasts the Empty Capsules market to grow from USD 1.95 billion in 2018 to USD 2.79 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.
A softgel consists of a gelatin-based shell surrounding a liquid or semi-solid (inner fill) drug or extract in the center. Softgel capsules offer several benefits to consumers such as convenience, enhanced efficacy, and bioavailability. Enteric softgel capsules are expected to exhibit significant market growth during the forecast period, owing to rise in adoption of enteric softgel, surge in demand for omega-3 supplements, growth in promotional activities by manufacturers, and rise in consumer awareness for preventative healthcare. The global softgel capsules market is estimated to grow at a CAGR of approximately 5% during the forecast period to reach approximately USD 2.5 billion by 2025.
1. Growing Geriatric Population
2. Growth of The Pharmaceutical Market, Along With Increasing R&D Activities and Clinical Trials
3. Advancements In Capsule Delivery Technologies
Traditionally, capsules were made from gelatin for manufacturing solid dosage forms for the pharmaceutical industry. Technological advancements have provided the empty capsules industry with a growing range of functionality options for capsules-based formulations used by patients. Over the years, capsule delivery has witnessed a number of technological advancements in terms of product enhancements for better quality outcomes and patient comfort. These include the improvement of capsule shells, fill material, capsule-sealing techniques, and capsule systems to achieve modified drug release and the encapsulation of different materials.
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The dietary supplements segment is expected to witness a faster growth rate in this market. Factors such as increased health awareness and rising affordability in emerging countries (such as India, China, and Brazil), increasing prevalence of lifestyle diseases, and increasing use of vitamin capsules due to their availability as over-the-counter (OTC) drugs are contributing to the growth of this segment.
The geographical regions mapped in the report are:
1. North America
4. Latin America
5. Middle East and Africa (MEA)
North America is expected to hold the largest market size in the empty capsules market during the forecast period, followed by the European region. The highest market share of North America can be attributed to the existing presence of major capsule manufacturers with large production capacities along with the presence of a number of pharmaceutical giants with large production capacities utilizing these capsules. The growing emphasis on superior pharmaceutical products and generics has also led to the increase in demand for empty capsules.
Some key players mentioned in the research report are:
Capsugel (US) ACG Worldwide (India) Qualicaps (Japan) Suheung Co. Ltd. (Korea) CapsCanada Corporation (Canada)
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