Empty capsules are two-piece capsules that are mainly used for encapsulation of powders and granules in the pharmaceutical industry. They find extensive use in prescription and over-the-counter drugs due to advantages like uniform dosage, convenient intake and protection of ingredient from degradation. With rising prevalence of chronic diseases and growth in generic drugs market, demand for empty capsules is surging significantly.
The global Empty Capsules Market is estimated to be valued at US$2.3 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The growing adoption of empty capsules in pharmaceutical industry driven by factors like convenience of dosing, protection of ingredients and uniform dosage is fueling the market growth. Empty capsules find widespread usage in manufacturing of prescription as well as over-the-counter drugs. Moreover, rising prevalence of chronic diseases is increasing the demand for medicines which in turn driving the empty capsules market. According to World Health Organization (WHO), chronic diseases accounted for approximately 60% of the global deaths in 2001 and this number is expected to increase further.
SWOT Analysis
Strength: Empty capsules offer high biocompatibility and compatibility with various active pharmaceutical ingredients. They also provide easy ingestion and help in targeted drug delivery.
Weakness: The availability of alternative dosage forms and increasing demand for advanced drug delivery systems are limiting the growth of empty capsules market. High costs associated with capsule production is another weakness.
Opportunity: Increased R&D investments in pharmaceutical sector and growing generic drug market present lucrative growth opportunities. Rise in chronic diseases and demand for alternative dosage forms also offers opportunities.
Threats: Stringent regulatory framework and certification requirements pose production challenges. Price fluctuation of raw materials also threatens the market.
Key Takeaways
The global empty capsules market is expected to witness high growth over the forecast period of 2023 to 2030. The global Empty Capsules Market is estimated to be valued at US$2.3 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.
The Asia Pacific region dominates the global empty capsules market and is expected to grow at the fastest rate during the forecast period. Growing generics industry, expanding pharmaceutical sector and large patient pool are driving the market growth in Asia Pacific region. Countries like India, China and Japan are the major revenue contributors in this region.
Key players operating in the empty capsules market are ACG Worldwide, Capsugel, Qualicaps Inc., Bright Pharma Caps Inc., Sunil Healthcare Ltd., CapsCanada Corporation, Roxlor LLC, Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Medi-Caps Ltd. Key players are focusing on new product development, mergers, acquisitions and collaborations to strengthen their market position. They are also investing in advanced capsule manufacturing technologies to improve production efficiency.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
