The increasing adoption of capsule formulations in the rising geriatric population is bolstering the empty capsules market. Further, developments of capsule delivery technologies and growth in the pharmaceutical market are boosting the empty capsules market. The advancements in the empty capsules market are also possible with an emphasis on studies such as the rise in clinical trial studies and increasing research and development activities.
Furthermore, the emerging markets have low manufacturing costs of the products, and it may provide considerable opportunities for the players. Other development opportunities in the empty capsules market come from advancements in vegetarian capsules and halal gelatin.
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The startups and well-established pharmaceutical companies are taking initiatives for the development of treatments and vaccines against novel coronavirus. The research activities related to vaccines in biotechnology and pharmaceutical companies, academic research institutes, and research centers are crucial for the eradication of COVID-19 infection. Further, the funding amount in the empty capsules market is expected to rise.
Empty Capsules Market: Key Trends
Nutraceuticals are largely in demand for the past few years. This rise is on the back of non-communicable diseases, for example, lung disorders, heart ailments, diabetes, and cancer. During the COVID-19 pandemic, the care for personal health is becoming extremely important in a major part of the global population. This trend of personal care has boosted the nutraceutical industry and created opportunities for expansion in the upcoming years. The growth in the nutraceutical industry will create lucrative opportunities in the empty capsules market because the majority of nutraceuticals are marketed in the form of capsules.
The increasing regulations on contemporary products, government pressure for cost reduction, and diminishing drug pipeline are creating challenges in the conventional lucrative pharmaceutical market in terms of growth perspective. Furthermore, it is encouraging manufacturers in the pharmaceutical industry to move the bases of their manufacturing closer to high-growth arising markets. It may help pharmaceutical manufacturers to take advantage of economical manufacturing in the industry. These manufacturing units may also get financial benefits with attractive rates of tax and liberal regulatory guidelines for product manufacturing. These liberations and financial relaxation will boost the production of empty capsules in the industry. And these factors may further boost the empty capsules market.
Empty Capsules Market: Competitive Dynamics and Key Developments
Various initiatives have taken place in the empty capsules market while creating lucrative growth opportunities. For example, Nutra’V TiO2 has launched TiO2-free capsules, a new range in 2021. These capsules are available in HPMC and gelatin and come with exceptional machinability. The range of capsules provides the best encapsulation services for ingredient masking.
Some of the prominent players in the empty capsules market include:
- ACG Worldwide
- Suheung Co. Ltd.
- Healthcaps India Ltd.
Empty Capsules Market: Regional Assessment
The empty capsules market is majorly dominated by the developed countries in Europe and North America. Between these two regions, the portion of the North American market is comparatively larger. The key factors for this dominance include the existence of prominent capsule manufacturers who have large production capabilities in the region. Further, the region also has pharmaceuticals giants who are capable enough for larger production abilities utilizing these capsules. Further, the increasing emphasis on superior generics and pharmaceutical products are increasing the empty capsules demand. The significant development in the pharmaceutical manufacturing companies is bolstering growth opportunities in Latin America and the Asia Pacific.
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