Increasing adoption of capsule formulations among the rising geriatric population, pharmaceutical demand development, and increased R&D activities are driving the demand for the market.
Market Size – USD 1.86 billion in 2019
Market Growth – CAGR of 5.5%
Market Trends – Increased demand from pharmaceutical applications.
The global Empty Capsules Market is projected to reach USD 2.90 billion by the year 2027. Steady rise in the geriatric population, rapid expansion of the pharmaceutical sector, and fast growth in the industries like cosmeceutical and nutraceutical are a few crucial factors accelerating growth of the empty capsules market.
Additionally, growing population coupled with increasing cases of several chronic disorders, and surging demand for capsule-centered medicines are further fueling the industry’s growth. There is an exponential rise in the preference for capsule-over-tablet, influencing the market’s growth. Moreover, various benefits associated with the use of capsules including faster rate of absorption, easy swallowing, and enhanced palatability are significantly contributing to the expansion of the industry.
The demand for nutraceutical has increased in the past years in order to avoid several chronic conditions. For instance, to avoid different cardiovascular disorders, nutraceuticals like omega-3 fatty acids have decreased the incidences of vitamin deficiency. Moreover, high availability of these cost-effective supplements is further triggering demand in the market.
The pandemic has a negative impact on the corporate growth. During the pandemic, renowned corporations have suspended the production, resulting in decreasing supply chain and demand. COVID-19 has majorly affected the imports and exports as well as outsourcing, with a sharp downfall of the industry. The disruption in the development of the U.S states and European countries is expected to not to resume soon because of the extreme COVID 19 outbreaks.
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Further key findings from the report suggest
- Owing to the rising prevalence of different types of infectious diseases and various chronic conditions globally, antibacterial and antibiotic medicines have produced the highest profits.
- Throughout the estimated period, food supplements and vitamins are presumed to rise by occupying faster rate.
- Government agencies and specific organizations in social welfare are expected to increase their overall efforts in the market for reducing vitamin deficiencies and malnutrition during the projected era.
- Increasing geriatric population susceptible to diseases coupled with fast spread of several bacterial and viral infections is predicted to enhance the penetration of specific multi-vitamin supplements and antibiotics.
- Asia Pacific is foreseen to grow by registering the highest CAGR rate over the estimated era. Rising healthcare costs and increasing disposable incomes are predicted to improve the access to medicines and healthcare facilities in many nations of this region.
- Capsugel (U.S.) extended its manufacturing capacity for distinct pharmaceuticals, incorporating the technology of LFHC at the Edinburgh plant in Scotland, in October, 2017.
- Key players include ACG Associated Capsules Pvt. Ltd., Capsugel, Inc., CapsCanada Corporation, Medicaps Ltd., Mitsubishi Chemical Holdings Corporation, Patheon, Inc., Qualicaps, Inc., Roxlor LLC, JC Biological Technology Co. Ltd, and Sunil Healthcare Ltd.
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For the purpose of this study, Reports And Data has segmented the Empty Capsules Market on the basis of product, therapeutic application, end-use, and region:
Product Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Gelatin Capsules
- Non-Gelatin capsules
Therapeutic Application Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Antibiotic and antibacterial drugs
- Vitamin and dietary supplements
- Antacids and ant flatulent preparations
- Antianemic preparations
- Anti-inflammatory and anti-rheumatic drugs
- Cardiac therapy drugs
- Cough and cold preparations
End-Use Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- Pharmaceutical industries
- Nutraceutical industries
- Cosmeceutical industries
- Research laboratories
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Regional Outlook (Revenue: USD Billion; Volume: Million Tons; 2017-2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
Table of Contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Empty Capsules Market Segmentation & Impact Analysis
4.1. Empty Capsules Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
220.127.116.11. Increasing Pharmaceutical Applications
18.104.22.168. Technological Advancements in Empty Capsules
22.214.171.124. Growing Geriatric Population
4.2.3. Market restraints analysis
126.96.36.199. Rising Gelatin Prices and Lower Availability of Raw Materials
188.8.131.52. Cultural Practices and Dietary Restrictions
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
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