Newark, June 14, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global empty capsules market is expected to grow from USD 2.9 Billion in 2021 to USD 5.7 Billion by 2030, at a CAGR of 8% during the forecast period 2022-2030.
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The rising demand for nutraceutical products is driving the market growth. These products are rich in antioxidants, fiber, calcium, heart-healthy ingredients, omega-3 fatty acids, vitamins and minerals, vitamin D, and whole grains. These products are highly being used to treat diseases such as cancer, heart ailments, lung disorders, and diabetes. This is a positive sign for the market's growth as most nutraceutical products are developed in empty capsules. The pressure of the government to reduce the prices of the drugs is restraining the growth of the market. While the manufacturers are focusing on developing capsules at a lower price which is an opportunity for the growth of the market. The outbreak of swine and bovine diseases resulted in restrictions on pig and bovine farming, leading to a hike in prices of the raw materials and less availability of raw materials which is a challenge for the growth of the market.
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Competitive Strategy
To enhance their market position in the global empty capsules market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In 2021, TiO2-free capsules were launched by Nutra’V TiO2. These capsules are available in gelatin and HPMC form and with excellent machinability. This capsule offers the best encapsulation solution for ingredient masking.
● In August 2020, Dr. Reddy Laboratories launched generic Penicillamine capsules in the US market, which are being used for the treatment of Wilson’s disease and cystinuria. These capsules received approval from the United States Food and Drug Administration (USFDA).
Market Growth & Trends
There is a significant rise in cardiovascular diseases globally, and in the year 2021, almost 17 million people died globally as per WHO. In addition to this, as per American Heart Association Research Report 2020, cardiovascular diseases is the leading cause of death among people in the United States. The demand for empty capsules has grown fast in recent years, and it is expected to grow much more throughout the forecast period. This expansion can be attributed to substantial R&D done for the innovation of capsules for all treating all kinds of diseases at a lower price, scientific collaborations, and a surge in need for dietary supplements and immunity boosters. Furthermore, with the rising geriatric population, there is a vast opportunity for the study and development of therapeutic options. This is expected to boost market growth throughout the forecast period considerably.
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Key Findings
● In 2021, the gelatin capsules type dominated the market with the largest market share of 63% and market revenue of 1.8 billion.
The product type segment is divided into gelatin capsules and non-gelatin capsules. In 2021, the gelatin capsules type dominated the market with the largest market share of 63% and market revenue of 1.8 billion. Gelatin capsules can easily be dissolved in the body and help in the uniform mixing of drugs in the body. Gelatin capsules are best for storing herbs, drugs, and powder.
● In 2021, antibiotic & antibacterial drugs accounted for the largest share of the market, with 31% and market revenue of 0.8 billion.
The application segment is divided into antibiotic & antibacterial drugs, vitamin & dietary supplements, antacids & anti-flatulent preparations, cardiac therapy drugs, and others. In 2021, antibiotic & antibacterial drugs accounted for the largest share of the market, with 31% and market revenue of 0.8 billion. The rising incidences of diseases caused by bacteria and germs such as cough and cold increase the demand for antibiotics & antibacterial drugs. Most people suffering from the common cold, fever, and other bacterial diseases prefer taking drugs in capsule form which is driving the segmental growth.
● In 2021, pharmaceutical manufacturers accounted for the largest share of the market, with 42% and market revenue of 1.2 billion.
The end-user segment is divided into pharmaceutical manufacturers, nutraceutical manufacturers, and others. In 2021, the pharmaceutical manufacturers segment dominated the market, accounting for around 42% of the global market share and market revenue of 1.2 billion. Empty capsules are used in large numbers by the pharmaceutical sector to store drugs and provide them to the patients for treatment of chronic diseases. The rising incidences of cardiovascular diseases, cancer, and respiratory diseases have increased the demand for empty capsules in the pharmaceutical sector.
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Regional Segment Analysis of the Empty Capsules Market
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global empty capsules market, with a market share of around 41% and 1.1 billion of the market revenue in 2021. Due to the presence of prominent key manufacturers and the presence of pharmaceutical giants in this region, North America is the greatest contributor in terms of market revenue. The region is also facing the burden of chronic diseases and the rising geriatric population. The growing emphasis of the government on the development of superior quality pharmaceutical products including drugs for the treatment of chronic diseases has led to the growing demand for empty capsules.
Key players operating in the global empty capsules market are:
● Suheung Co., Ltd
● Roxlor LLC
● Snail Pharma Industry Co. Ltd
● ACG Worldwide
● Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.)
● CapsCanada Corporation
● Lonza Group Ltd. (Capsugel)
● Medi-Caps Ltd.
● Bright Pharma Caps Inc.
● Sunil Healthcare Ltd.
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. The Brainy Insights has segmented the global empty capsules market based on the below-mentioned segments:
Global Empty Capsules Market by Product Type:
● Gelatin Capsules
● Non-Gelatin Capsules
Global Empty Capsules Market by Application Type:
● Antibiotic & Antibacterial Drugs
● Vitamin & Dietary Supplements
● Antacids & Anti-flatulent preparations
● Cardiac Therapy Drugs
● Others
Global Empty Capsules Market by End-user:
● Pharmaceutical Manufacturers
● Nutraceutical Manufacturers
● Others
About the report:
The global empty capsules market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the clients objectives of high-quality output within a short time. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. The customized solutions are tailored to meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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