Industry Insights
The global Empty
Capsules Market was estimated at USD 1.34 billion in 2015 and is expected to grow at a
significant CAGR over the forecast period. The major factors impelling the
market growth are increasing adoption rate of capsules when compared to
tablets, rising demand of empty capsules in cosmeceutical, nutraceutical and
pharmaceutical industries and growing geriatric population. Capsule- based
formulations are more popular among the aged population, owing to benefits like
faster dissolution time as compared to the other oral dosage forms, capsules
make swallowing easier for patients, moreover, the gastrointestinal irritation
caused by capsules is comparatively less than other dosage forms. These
aforementioned benefits associated with capsules are likely to boost the market
growth over the forecast period.
However, the religious and cultural issues arising due to use of animal
derivatives, such as bovine and porcine gelatin capsules and growing prices of
raw materials, are expected to hinder the market growth over the forecast
period.
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Therapeutic Application Insights
Major therapeutic application of empty capsules can be segmented into
cold and cough preparations, anti-anemic preparations, anti-flatulent and antacid
preparations, dietary and vitamin supplements, cardiac therapy drugs,
anti-rheumatic and anti-inflammatory drugs, anti-bacterial and antibiotic
drugs, and other therapeutic applications.
In 2015, antibacterial and antibiotic drugs segment accounted for the
largest market share owing to the high prevalence of various chronic conditions
and infectious diseases that are expected to impose high pressure on the
pharmaceutical industries and consequently boost the empty capsule market over
the forecast period.
End-use Insights
Based on end-use, the empty capsules market is segmented into research
laboratories, cosmetic industry, nutraceutical industry and pharmaceutical
industry. Pharmaceutical industry segment generated the maximum revenue in 2015
and is expected to dominate the market throughout the forecast period, because
of large scale use of capsules over other oral dosage forms, which is expected
to promote demand of empty capsules in the pharmaceutical industry in order to
treat various infectious and cardiac diseases.
Regional Insights
North America’s accounted for highest share of the total empty capsules
market in 2015 and is expected to grow at a CAGR of 6.1% during the forecast
period owing to the high penetration rate of cosmeceutical and nutraceutical
industry along with rising awareness of nutraceutical products among the
consumers.
Asia-Pacific is expected to witness the fastest growth over the forecast
period. This growth can be attributed to the increase in proliferation of
pharmaceutical industry, rising awareness regarding cosmeceuticals and
nutraceuticals products, improved healthcare infrastructure, and less stringent
government regulations in the nutraceutical industry.
Competitive Insights
Some players in the empty capsules market include Sunil Healthcare Ltd.
(Sunloc Healthcare, Inc.), Roxlor LLC, Patheon, Inc. (Banner Pharmacaps, Inc.),
Qualicaps, Inc. (Mitsubishi Chemical Holdings Corporation), Medicaps Ltd.,
CapsCanada Corporation, JC Biological Technology Co. Ltd, ACG Associated
capsules Pvt. Ltd., and Capsugel, Inc.
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