A new report on “Empty Capsules Market by Product, Raw Material, Therapeutic Application, and End User: Global Opportunity Analysis and Industry Forecast, 20172025” published by Allied Market Research states that the global empty capsules market is expected to accrue a sum of $3.70 billion by 2025 from $1.84 billion in 2017, growing at a CAGR of 9.1% during the forecast period, 2018–2025.
The report classifies the global empty capsules market into product, raw material, therapeutic application, and end user. The product segment is bifurcated into gelatin capsules and non-gelatin capsules. The gelatin capsules segment is further divided into hard gelatin capsules (HGCs) and soft gelatin capsules (SGCs). The gelatin capsule segment held the largest market share in 2017 and is likely to continue its dominance during the study period. This is because gelatin is highly adopted by manufacturers to develop hard-shell capsules that can efficiently hold active pharmaceutical ingredients (APIs). However, the non-gelatin capsules segment is likely to grow at the fastest CAGR from 2018 to 2025, owing to the growing demand for hydroxypropyl methylcellulose (HPMC) capsules and the shift in consumer preferences toward the use of vegetarian capsules in the recent years.
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Comprehensive Analysis of The Key Players
The companies operating in the empty capsules market include ACG Worldwide, Bright Pharma Caps Inc., CapsCanada Corporation, Lonza Group Ltd. (Capsugel), Medi-Caps Ltd., Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.), Roxlor LLC, Snail Pharma Industry Co. Ltd., Suheung Co., Ltd., and Sunil Healthcare Ltd.
Among the regions, North America grabbed the largest market share in 2017 and would dominate the global market through 2025. However, Asia-Pacific is expected to witness the fastest growth throughout the forecast period, owing to high population base, surge in disposable incomes, greater awareness of chronic disorders among consumers, and increased adoption of a healthy lifestyle in the region. Moreover, India and China, act as primary contributors to the growth of the Asia-Pacific empty capsules market, owing to the fast-growing pharmaceutical industry in these countries.
Based on therapeutic application, the market is divided into antibiotic & antibacterial drugs, vitamin & dietary supplements, antacids & anti-flatulent preparations, cardiac therapy drugs, and other applications. The antibiotic & antibacterial drugs segment dominated the global market in 2017 and is anticipated to continue this dominance throughout the forecast period.
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Key Findings of the Empty Capsules Market :
- The CIS (Commonwealth of Independent States) region accounted for one-ninth share of the global market in 2017.
- The market for cardiac therapy drugs utilizing empty capsules are expected to grow at the second-highest CAGR of 10.4% from 2018 to 2025.
- North America dominated the global empty capsules market, accounting for the maximum share in 2017 and is expected to retain a similar trend during the forecast period.
- Hydroxypropyl methylcellulose (HPMC) capsules raw material is growing at the fastest pace during the forecast period.
- The SGCs segment is estimated to grow at the highest CAGR of 8.1% from 2018 to 2025.
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