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Market Overview
The global Empty capsule market is expected to register a
CAGR of approx 8.8 % during the forecast period of 2018 to 2023.
Market Dynamics
The global empty
capsule market is being driven by increasing investments in capsule
manufacturing plants, rising demand for halal capsules, and growing
applications in the nutraceutical industry. Furthermore, the popularity of
capsule-based drug delivery systems has grown in recent years, resulting in a
rise in capsule demand. Many industry players have increased their investments
in capsule manufacturing plants in response to the current market conditions,
in order to increase their capsule production capacity and meet the increasing
demand. Following the illustrated route, Capsugel (a Lonza company) invested
more than USD 25 million in 2015 to expand its vegetarian capsule production
range. To summarize, such investments allow companies to expand their
production capacity and make capsules available to customers on the market. As
a result, rising investments in capsule manufacturing plants are expected to
provide a sufficient driving force during the forecast period.
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Due to various factors such as taste masking capability and
improved distribution of dosage types, hard capsules are becoming more common
in the nutraceutical industry. Furthermore, a number of well-known empty hard
capsule manufacturers are working on products for the pharmaceutical and
nutraceutical industries. Capsugel, for example, makes coni-snap sprinkle
capsules for consumer health and nutrition applications. These capsules are
often intended to meet the needs of the increasing population of people who
have trouble swallowing. Thus, during the forecast period, the market is
expected to be driven by rising demand for nutraceutical products and parallel
consumption of capsules within the industry.
During the forecast period, however, the high cost of
vegetarian capsules and fluctuating raw material prices are expected to limit
market growth.
Competitive Dynamics
Some of the key players in the global Empty capsule market
are Neopharma, Tabuk Pharmaceuticals, Julphar,Roxlor,QUALICAPS, ACG-Associated
Capsules, Medi-Caps Ltd, Capsugel,ACDIMA, NecLife, Sunil Healthcare Limited, Arab
Caps and others.
Market segmentation
The global Empty capsule market is segmented based on raw
materials, physical characteristics, certification, end user and region.
On the basis of raw materials, the market is segmented into
Bovine, Porcine, Non-gelatin.
Further, on the basis of physical characteristics, the
market is segmented into hard capsules, soft capsules.
Based on the certification, the market is segmented into
halal certification, non-halal certification and others.
On the basis of end user, the market is segmented into
pharmaceutical industries, academic & research organizations.
Regional Overview
In the current scope of the study, the above-mentioned
segments are covered into four global regions, namely- the Americas, Europe,
Asia Pacific and the Middle East & Africa.
North America and South America make up the vacant capsule
market in the Americas. North America is further divided into two parts: the
United States and Canada. In the global empty capsule market, the Americas had
the largest share. There has been an increase in the use of these
nutraceuticals since they aid in the prevention of major health problems such
as obesity, cancer, and arthritis. Since capsules are the most common solid
oral dosage type, the nutraceutical industry in this region has a high demand
for empty capsules.
After the Americas, Europe was the second-largest market.
Western Europe and Eastern Europe are the two areas that make up Europe.
Germany, the United Kingdom, and France account for the majority of the market
share in Western Europe. Growing applications in the nutraceuticals industry,
rising disease prevalence, and other factors are driving the growth of the
empty capsule market. The rising prevalence of the geriatric population, as
well as the chronic diseases that come with it, creates a high demand for
therapeutically effective drugs to treat chronic illnesses.
In the empty capsule market, Asia Pacific is the fastest
growing country. The proliferation of pharmaceutical industries in this area, favorable
government initiatives pertaining to the development of healthcare
infrastructure, which includes pharmaceutical manufacturing industries, and
rising demand for nutraceuticals and cosmeceuticals as a result of increased
awareness about wellness trends and fitness-oriented cha Furthermore, the
growing demand for better diagnostic instruments, better and safer therapeutic
approaches, rapidly evolving technology, and the presence of a large patient
pool are driving this market's growth in Asia Pacific.
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