“Empty Drug Capsule Market: Global Demand Analysis & Opportunity Outlook 2023”
The global empty drug capsule market is segmented into product type such as gelatin capsules, and non-gelatin capsules out of which, the gelatin capsules segment is anticipated to have the largest share by 2023 and is expected to post a significant CAGR during the forecast period i.e. 2016-2023. Further, the growth of this segment is attributed to various factors such as high availability of gelatin for manufacturing and high protein content compared to non-gelatin. Further, cost-effectiveness related with gelatin capsules are also believed to foster the growth of gelatin capsule market in near future.
Global empty drug capsule market is projected to register a 7.4% CAGR over the forecast period i.e. 2016-2023. The market is expected to expand on the back of developing healthcare infrastructure of developing nations and increasing preference for capsules. Moreover, the global empty drug capsule market is anticipated to reach at noteworthy revenue of USD 2.45 Billion by 2023.
The pharmaceutical industry segment by end-user is projected to attain a largest share of overall empty drug capsule market. In terms of geography, with 43% share in 2015, North America grabbed the largest market of empty drug capsule aided by U.S. Moreover, growing pharmaceutical industry in this region is predicted to foster the growth of empty drug capsule market. Apart from this, Europe empty drug capsule market accounted for USD 248.1 Million in 2015.
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Expansion of Pharmaceutical and Nutraceutical Industries
Robust expansion of pharmaceutical and nutraceutical industries in developing and developed nation on the back of positive GDP figure is believed to be the dynamic factor behind the rapid growth of empty drug capsule market. Furthermore, growing adoption of empty drug capsule on the back of absence of odor and bitterness is also believed to flourish the growth of empty drug capsule market.
Rise in Geriatrics Population
Growing old age population affected with chronic diseases such as cancer, diabetes and others along with easy availability of capsules are some of the factors propelling the growth of empty drug capsule market. Moreover, rising awareness among the population towards health and hygiene and increasing adoption of health supplements in the form of capsules is projected to intensify the growth of empty drug capsule market.
On the contrary, introduction of constricted regulatory guidelines from the national and international regulatory authorities and lack of advanced medicinal facilities in under-developed nations are some of the factors hampering the growth of empty drug capsule market.
The report titled “Empty Drug Capsule Market: Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global empty drug capsule market in terms of market segmentation by product type, by therapeutic application, by capsules size, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global empty drug capsule market which includes company profiling of Capsugel, Inc., ACG Associated capsules Pvt. Ltd., Qualicaps, Inc., Roxlor LLC, Patheon, Inc., Medicaps Ltd., Snail Pharma Industry Co. Ltd., Bright Pharma Caps, Inc.and Suheung Co. Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global empty drug capsule market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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