The Global Empty Capsules Market garnered $1.84 billion in 2017 and is expected to reach $3.70 billion by 2025, registering a CAGR of 9.1% from 2018 to 2025, according to the research published by Allied Market Research. Based on raw materials, the pig meat segment contributed to nearly three-sevenths of the total market share in 2017.
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Limited timeframe of drug development under standard regulations has become the crucial factor to drive the production of drugs that can be delivered in the form of capsules to pharmaceutical manufacturers. Moreover, this helps manufacturers to lessen the time required to launch the drug. Other advantages involve protection of drug substances from different external factors including natural or artificial light at the time of production, administration, storage, and usage.
On the basis of product, the global empty capsules market is further segmented into gelatin capsules and non-gelatin capsules. Gelatin capsules segment is further classified into soft gelatin capsules (SGCs) and hard gelatin capsules (HGCs). The gelatin segment contributed the major market share in 2017 and will maintain its lead throughout the forecast period. This is due to gelatin being a preferred choice of raw material for developing hard shell capsules that are capable of holding active pharmaceutical ingredients (APIs). However, the non-gelatin capsules segment would register the fastest growth during the forecast period, 2018–2025. Rise in demand for hydroxypropyl methylcellulose (HPMC) capsules contributes majorly for the fastest growth rate of the non-gelatin capsules segment. Moreover, a paradigm shift in consumer preferences contributes to increase in usage of vegetarian capsules.
Based on therapeutic application, the antibiotic & antibacterial drugs segment contributed the highest growth rate in the market in 2017 and is expected to continue its lead position during the forecast period. However, the vitamin & dietary supplements segment would register the highest growth rate throughout the forecast period.
Key Findings of the report:
- The CIS (Commonwealth of Independent States) region contributed nearly one-ninth share of the total market in 2017.
- North America contributed the largest share in terms of revenue in the global empty capsules market in 2017 and is expected to maintain its dominance during the forecast period.
- Hydroxypropyl methylcellulose (HPMC) capsules raw material would register the highest CAGR during the forecast period.
- The SGCs segment is expected to register the highest CAGR of 8.1% during the forecast period, 2018–2025.
The Asia-Pacific region is expected to register the highest growth rate during the forecast period, owing to high population base, rise in patient awareness regarding chronic disorders, and increase in inclination toward healthy lifestyle. Moreover, countries, such as India and China, contribute majorly toward the growth of the market, owing to the ever-evolving pharmaceutical industry in these countries.
The major companies analyzed in the report include ACG Worldwide, CapsCanada Corporation, Bright Pharma Caps Inc., Medi-Caps Ltd., Lonza Group Ltd. (Capsugel), Roxlor LLC, Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.), Suheung Co., Ltd., Snail Pharma Industry Co. Ltd., and Sunil Healthcare Ltd.
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