Growing aging population, increasing health concerns along with rising income levels is propelling the growth in the global empty capsules market. Amongst all dosage forms, capsule is the most versatile. Usually made of gelatin, capsules are better known for solid dosage forms in which one or more medicinal ingredients are enclosed in a small container. As per requirement, capsules are available in many sizes. Different odors and drug tastes can be concealed by tasteless gelatin shell. The empty capsules market includes hard gelatin capsules and non-gelatin capsules. Drugs enclosed in hard gelatin capsules is one of the most frequently utilized dosage forms. The global empty capsules market is projected to witness a healthy growth in coming years owing to increasing developments in the pharmaceutical industry. Increasing usage of empty capsules in therapeutic applications as well as in dietary supplements is also estimated to give growth towards the global empty capsules market.
Empty Capsules Market: Drivers & Restraints
The global empty capsules market is expected to witness an increased demand due to a number drivers in the market. One of the key drivers in the global empty capsules market can be attributed to the proliferating pharmaceutical, cosmetics & nutraceutical industry across the globe. The increasing per capita income in addition to growing awareness towards personal health is likely to contribute towards pharmaceutical & healthcare industry, which in turn is anticipated to increase the revenues generated in the global empty capsules market in coming years. Furthermore, increasing access to high quality healthcare facilities and favourable government initiates in pharmaceutical industry is expected to contribute towards rise in revenues generated in the global empty capsules market across the globe. However, need for high capital investment, increasing demand for soft gelatin capsule along with rising prices are the restraints in the global empty capsules market.
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Empty Capsules Market: Segmentation
On the basis of capsule types, global empty capsules market can be segmented into:
- Hard Gelatin Capsules
- Non-Gelatin Capsules
On the basis of therapeutic application, global empty capsules market can be segmented into:
- Therapeutic applications (such as Antianemic preparations, Antacid and Antiflatulent Preparations, etc.)
- Vitamins and Dietary Supplements
- Cardiovascular Therapy Drugs
- Cough and Cold Preparations
- Anti-inflammatory Drugs
On the basis of source of raw materials, the global empty capsules market can be segmented into:
- Bovine-hide Gelatin
- Pig-skin Gelatin
- Bone-derived Gelatin
- Pullulan & starch materials
- Hydroxypropylmethyl cellulose (HPMC) also called hypermellose
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On the basis of end-users, global empty capsules market can be segmented into:
- Nutraceutical Industry
- Cosmetics Industry
- Pharmaceutical Industry
- Research Laboratories (such as placebo in clinical trials)
Empty Capsules Market: Region-wise Outlook
Further in terms of geography, the global empty capsules market has been bifurcated into geographic regions such as North America, Latin America, Asia Pacific (excluding Japan), Middle East & Africa, Eastern Europe, Western Europe and Japan.
Looking forward towards these regions, the Asia Pacific is anticipated to witness healthy growth rate in the global empty capsules market, through the forecast period 2015-2025. The North American region accounted for a leading contribution in the global empty capsules market, followed by Europe and Asia Pacific in terms of revenue share. Additionally, increasing growth in pharmaceutical & healthcare industry in Asia Pacific region is also expected to contribute towards the demand for empty capsules in the global empty capsules market, in coming years.
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Empty Capsules Market: Key Players
The key players identified in the global empty capsules market include Capsugel, Qualicaps, Inc., Medi-Caps Ltd, Bright Pharma Caps, Inc., Roxlor LLC, Sunil healthcare Ltd., ACG Worldwide, CapsCanada Corporation, Snail Pharma Industry Co. Ltd., and Suheung Co. Ltd, among many others.