NEW YORK, July 8, 2024 /PRNewswire/ — The global empty capsules market size is estimated to grow by USD 1.06 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.08% during the forecast period. Increasing applications in pharmaceutical industry is driving market growth, with a trend towards increasing demand for generic drugs. However, risk of counterfeiting in pharmaceutical industry poses a challenge. Key market players include ACG, Ajix Inc., Bright Pharma Caps Inc., Healthcaps India Ltd., Lonza Group Ltd., Mitsubishi Chemical Group Corp., Nectar Lifesciences Ltd., Qingdao Yiqing Biotechnology Co. Ltd., Roxlor LLC, Shanxi Guangsheng Medicinal Capsule Co. Ltd., Shanxi JC Biological Technology Co. Ltd., Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Sunil Healthcare Ltd..
Technavio has announced its latest market research report titled Global empty capsules market 2024-2028
Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report
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Empty Capsules Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
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Market growth 2024-2028 |
USD 1061.3 million |
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Market structure |
Concentrated |
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YoY growth 2022-2023 (%) |
6.49 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 47% |
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Key countries |
US, Germany, UK, China, and Japan |
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Key companies profiled |
ACG, Ajix Inc., Bright Pharma Caps Inc., Healthcaps India Ltd., Lonza Group Ltd., Mitsubishi Chemical Group Corp., Nectar Lifesciences Ltd., Qingdao Yiqing Biotechnology Co. Ltd., Roxlor LLC, Shanxi Guangsheng Medicinal Capsule Co. Ltd., Shanxi JC Biological Technology Co. Ltd., Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Sunil Healthcare Ltd. |
Market Driver
Generic drugs, which have the same performance characteristics as branded drugs, offer significant cost savings for healthcare systems. The FDA reports that generic drugs have saved the US healthcare system USD2.2 trillion in the past decade. This is due to the fact that generic drugs do not require the same upfront research costs as branded drugs, allowing them to be sold at 80-85% lesser prices. This trend is expected to fuel the growth of the global pharmaceuticals wholesale and distribution market for empty capsules, as the demand for these cost-effective alternatives continues to rise.
The empty pill industry is experiencing significant growth, particularly in the oral administration segment. This trend is driven by the increasing demand for personalized medicine solutions, including nutraceutical products. Good Manufacturing Practices (GMP) and automation are key focuses in the industry, ensuring high-quality capsule formulations. The elderly population is a major consumer group, leading to a surge in demand for geriatric-friendly medicine solutions. The empty capsule market caters to this need, with a focus on herbal supplements and customizable dose forms. Pharmaceutical manufacturers produce medicinal agents using inert substances like Hydroxypropyl Methylcellulose, Starch, and Pullulan. The cosmeceutical industry and nutraceutical sector also utilize empty capsules for vitamins, minerals, and other health supplements. Soft gelatin capsules and liquid encapsulation are popular choices for various applications, including immediate, sustained, and delayed release capsules. The market includes manufacturers of aspirin capsules, veg capsules, and even titanium dioxide. The market for empty capsules is vast, catering to various industries and consumer needs.
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Market Challenges
The global empty capsules market faces significant challenges due to the prevalence of counterfeit products in the pharmaceutical industry. Counterfeit drugs pose a threat to consumer safety and can lead to financial losses for vendors, including pharmaceutical and packaging companies. The intricate nature of the pharmaceutical supply chain, with numerous intermediaries, increases the risk of original products being replaced or stolen. Counterfeit drugs can enter the supply chain at various stages, including production and reverse logistics. The demand for counterfeit products, driven by their lower prices, can negatively impact the sales and pricing strategies of legitimate vendors. To mitigate this risk, industry players must maintain stringent quality control measures and collaborate with regulatory bodies. The US federal government is taking steps to combat counterfeiting in the pharmaceutical sector, offering some reassurance for market growth during the forecast period.
The Empty Capsules Market encompasses gelatin and non-gelatin capsules used in various industries, including animal origin-based products for Cattle, Pigs, Fish, Horses, and Poultry, as well as the Health Nutrition Industry. The Gelatin Capsules segment dominates, particularly in Dietary Supplements, Anti-anemic Preparations, Anti-inflammatory Drugs, and Cardiovascular Therapy Drugs. However, the Non-gelatin Capsules segment is growing due to health-conscious customers and environmental concerns. The Dietary Supplements segment uses Immediate-release, Sustained-release, and Delayed-release capsules. The Nutraceutical Industry and Research Laboratories also utilize capsules for chronic diseases and drug delivery innovations. The Pharmaceutical Sector produces pharmaceutical compositions using size “0” capsules, including Vegetarian Shells and Vegan Capsules for the growing demand of plant-based alternatives. The IV Bags Market and Industrial Regions also consume gelatin-based capsules, particularly Type-B Gelatin Capsules, for Oral Administration Alternatives. Despite the challenges, producers continue to innovate, offering Gelatin-based and Non-gelatin capsules for various pharmaceuticals and nutritional supplements, herbal formulations, and medicines.
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Segment Overview
This empty capsules market report extensively covers market segmentation by
Type
1.1 Gelatin capsules
1.2 Non-Gelatin capsules
Geography
2.1 North America
2.2 Europe
2.3 Asia
2.4 Rest of World (ROW)
1.1 Gelatin capsules- The Empty Capsules Market refers to the production and sale of hollow capsules used in various industries, primarily for the pharmaceutical sector. Manufacturers produce these capsules in large quantities, ensuring they meet specifications for size, color, and material. Consumers, including pharmaceutical companies and nutraceutical brands, purchase these empty capsules to fill with their respective active ingredients for distribution. This market continues to grow due to increasing demand for dietary supplements and generic drugs.
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Research Analysis
Capsules have gained significant popularity in the health and wellness industry due to their convenience and versatility. They are widely used in the nutraceuticals sector to encapsulate various ingredients for the prevention and management of non-communicable diseases such as diabetes and cancer. With the rising prevalence of chronic diseases and increasing health consciousness, the demand for capsules as a means of delivering nutraceutical ingredients is on the rise. Dietary restrictions and cultural practices have led to the development of alternative capsule materials such as vegan capsules made from plant-based alternatives like Hydroxypropyl Methylcellulose (HPMC), starch, and pullulan. The pharmaceutical sector is also leveraging capsule technology for drug delivery innovations, while the cosmeceutical industry uses them for delivering medicinal agents and inert substances. The nutraceutical ingredients market is expected to grow significantly due to the increasing burden of chronic diseases. The negative effects of some capsule materials like gelatin have led to the development of environmentally friendly and sustainable alternatives. The aging population is another factor driving the growth of the capsule market. Overall, capsules play a crucial role in the delivery of nutritional supplements and medicinal agents, making them an essential component of personal health and wellness.
Market Research Overview
Empty capsules play a crucial role in the nutraceuticals industry, serving as containers for various health supplements, medicines, and herbal formulations. The market for empty capsules is driven by the rising prevalence of non-communicable diseases such as diabetes, cancer, and cardiovascular conditions. Capsules are available in two main types: gelatin and non-gelatin. Gelatin capsules, derived from animal hides, bones, hooves, and other parts of cattle, pigs, fish, horses, and poultry, dominate the market. However, the demand for non-animal origin capsules is increasing due to dietary restrictions, cultural practices, and ethical considerations. Non-gelatin capsules are made from plant-based materials like Hydroxypropyl Methylcellulose, starch, and pullulan. The market is segmented into dietary supplements, anti-anemic preparations, anti-inflammatory drugs, and cardiovascular therapy drugs. The convenience and taste masking properties of capsules make them popular among health-conscious customers. The market is also driven by pharmaceutical sector innovations in drug delivery systems, personalized medicine, and geriatric-friendly medicine solutions. The empty pill industry is expected to grow in industrial regions due to the increasing demand for oral administration alternatives to IV bags. The market is subject to Good Manufacturing Practices and automation to ensure quality and efficiency. The aging population is a significant consumer group, leading to a demand for customizable dose forms, patient-centric medications, and medicinal agents.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Type
Gelatin Capsules
Non-Gelatin Capsules
Geography
North America
Europe
Asia
Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio