Empty Capsules Market Size (2020 to 2025)
According to the report published, the size of the global empty capsules market is forecasted to be growing at a CAGR of 7.57% between 2020 to 2025 and worth USD 2428.6 million by 2025.
Key Market Drivers:
The major attribute propelling the market’s growth rate is the increasing adoption rate of empty capsules among the geriatric population. The rising prevalence for the in-take of dietary supplements to boost immunity greatly enhances the market’s growth rate to the extent. On-going clinical studies to develop an effective vaccine or drug is propelling the growth rate of the market. According to clinicaltrials.gov, 32,524 trials were conducted in 2019, where it was 30,978 in 2018, particularly in the US. Adopting advanced technologies by the pharmaceutical companies and increased sales of the empty capsules from recent years are eventually propelling the market’s growth rate. Creating awareness over the use of empty capsules and its benefits through digital advertisements impacts the growth rate of the market.
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Significant Challenges:
However, bovine gelatin products are allergic to some patients where lack of proper knowledge while buying the product is slowly hampering the market’s growth rate. The increasing rate of raw materials is also impeding the growth rate of the market. Vegetarian capsules are a bit expensive due to fluctuation in prices of the raw materials. This is also impeding the growth rate of the market.
COVID-19 impact on the Empty Capsules Market:
COVID-19 pandemic has set new growth opportunities for the market to grow. The pandemic has disrupted the economy globally. Due to lockdown restrictions and a ban on international flights among many countries, it slightly reduced the empty capsules’ manufacturing rate and sales. However, with the safety precautions, all the activities are resumed with the unlock guidelines. Empty capsules market shares are surging with the rising demand for vitamin supplements.
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This research report on the global empty capsules market has been segmented & sub-segmented based on the product, therapeutic application, end-user and region.
By Product:
- Gelatin Capsules
- Non-Gelatin Capsules
By Therapeutic Application:
- Antibiotic and Antibacterial Drugs
- Antacid and Ant Flatulent Preparations
- Anti-Anemic Preparations
- Anti-Inflammatory Drugs
- Cardiovascular Therapy Drugs
- Dietary Supplements and Vitamins
- Cough and Cold Preparations
- Other Therapeutic Applications
By End User:
- Pharmaceutical Industry
- Cosmetics Industry
- Nutraceutical Industry
- Research Laboratories
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Geographically, The empty capsules market is led by North America in 2020 and is deemed to maintain the same flow in the coming period. Increasing demand for neutraceuticals due to growing various health disorders like obesity, cancer, and others is propelling the market’s demand. Rising investments in the biopharmaceutical and pharmaceutical companies are a key driving factor for the market to grow. Also, rising healthcare industries with proper infrastructure are impelling the demand of the empty capsules market in North America. The US is the leading country in holding the dominant shares of the market.
Europe is positioned second in gaining traction over the shares of the market. Rising per capita income in developed and developing countries is leveraging the demand of the market. The rising number of manufacturing empty capsules is presenting new opportunities for the market to grow in this region. Asia Pacific is expected to grow at the highest CAGR in the forecast period. The major factor driving the market demand in this region is the rising geriatric population and their prevalence for the empty capsules in the solid dosage forms. Empty Capsules Market
NOTABLE COMPANIES IN THIS MARKET:
Capsugel, ACG Worldwide, Suheung Co Ltd., Bright Pharmacaps Inc., Capscanada Corporation, Medi-Caps Ltd., Qualicaps, Roxlor, LLC, Snail Pharma Industry Co., Ltd, and Sunil Healthcare Limited are some of the companies dominating the global empty capsules market.
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List of Tables & Figures of the report:
- Global Empty Capsules Market, By Region, From 2020 to 2025 (USD Million)
- Global Empty Capsules Market, By Product, From 2020 to 2025 (USD Million)
- Global Gelatin Capsules Market, By Region, From 2020 to 2025 (USD Million)
- Global Non Gelatin Capsules Market, By Region, From 2020 to 2025 (USD Million)
- Global Empty Capsules Market, By Therapeutic Application, From 2020 to 2025 (USD Million)
- Global Antibiotic and Antibacterial Drugs Market, By Region, From 2020 to 2025 (USD Million)
- Global Vitamins and Dietary Supplements Market, By Region, From 2020 to 2025 (USD Million)
- Global Antacid and Antiflatulent Preparations Market, By Region, From 2020 to 2025 (USD Million)
- Global Antianemic Preparations Market, By Region, From 2020 to 2025 (USD Million)
- Global Anti-Inflammatory Drugs Market, By Region, From 2020 to 2025 (USD Million)
- Global Cardiovascular Therapy Drugs Market, By Region, From 2020 to 2025 (USD Million)
- Global Cough and Cold Preparations Market, By Region, From 2020 to 2025 (USD Million)
- Global Other therapeutic applications Market, By Region, From 2020 to 2025 (USD Million)
- Global Empty Capsules Market, By End User, From 2020 to 2025 (USD Million)
- Global Pharmaceutical Industry Market, By Region, From 2020 to 2025 (USD Million)
- Global Nutraceutical Industry Market, By Region, From 2020 to 2025 (USD Million)
- Global Cosmetics Industry Market, By Region, From 2020 to 2025 (USD Million)
- Global Research Laboratories Market, By Region, From 2020 to 2025 (USD Million)
- 140+ More
Browse Regional Reports:
- North America Empty Capsules Market
- Europe Empty Capsules Market
- Asia-Pacific Empty Capsules Market
- Latin America Empty Capsules Market
- Middle East and Africa Empty Capsules Market
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