Empty Capsules Market Overview
Capsules are relatively stable capsules containing or encapsulating drugs, which are administered in different dosage forms. Empty capsules are of two types on the market, namely gelatin capsules and non-gelatin capsules. Of these, vegetable / non-gelatin capsules are expected to experience considerable demand over the next few years. This is attributed to consumer preference because of its natural or non-animal origin.
Growth of global empty capsules market is expected to be driven by growing applications in pharmaceutical and nutraceuticals companies. Technological advancements coupled with growing consumer preference towards capsule based formulations are also fuelling the market growth. However increasing costs of raw material, stringent regulatory frameworks and religious issues concerned with the consumption of capsules containing animal derived ingredients are limiting the growth of the market.
Empty Capsules Market Forecast Report (2018-2023)
The Global Empty Capsules Market was worth $1568.18 million in 2018 and estimated to be growing at a CAGR of 7.5%, to reach $ 2251.33 million by 2023.
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Empty Capsules Market Segmentation
Global Empty Capsules market is segmented by product, therapeutic application and End User. On the basis of product the market is further sub-segmented into Gelatin Capsules and Non-Gelatin Capsules. By therapeutic application global market for Empty capsules is segmented as Antibiotic and Antibacterial Drugs, Antacid and Antiflatulent Preparations, Anti anemic Preparations, Anti-Inflammatory Drugs, Cardiovascular Therapy Drugs, Dietary Supplements and Vitamins, Cough and Cold Preparations and other therapeutic applications. Based on End User the market is segmented as Pharmaceutical Industry, Cosmetics Industry, Nutraceutical Industry and Research Laboratories.
On the basis of geography global market for empty capsules is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is the dominating market for Empty capsules accounting for a share of approximately 37% owing to rising consumer awareness and increase in the consumption of nutraceutical products. Asia-Pacific is estimated to be the fastest growing region due to increasing government support and increasing demand for nutraceuticals and cosmaceuticals.
The major companies dominating this market for its products and services are
- Acg Worldwide,
- Suheung Co Ltd.,
- Bright Pharmacaps Inc.,
- Capscanada Corporation,
- Medi-Caps Ltd.,
- Roxlor, LLC,
- Snail Pharma Industry Co., Ltd.
- Sunil Healthcare Limited
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