Global Empty Capsules market report 2024, Forecast To 2033
4 Mar, 2024
The empty capsules market has exhibited robust growth, rising from$2.97 billion in 2023 to$3.25 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.4%. This growth is attributed to changing consumer preferences, favorable economic conditions, and impacts from geopolitical events such as the Russia-Ukraine war. Entry barriers in the industry and the growing geriatric population also contribute to this expansion. Forecasts indicate rapid growth in the coming years, with the market projected to reach$4.77 billion by 2028, boasting a compound annual growth rate (CAGR) of 10.1%. Factors driving this growth include market size expansion, market consolidation, ethical concerns, stringent regulations, increasing demand for nutraceuticals, and evolving market dynamics. Major trends in the forecast period encompass product innovations, sustainable sourcing, use in vegetarian and vegan products, treatments for chronic diseases in specific patient populations, and regional dominance.
Global Empty Capsules Market Key Driver
An increase in the prevalence of chronic diseases is expected to propel the growth of the empty capsules market going forward. Chronic disease often lasts for three months or longer and may worsen with time. The most prevalent chronic diseases are cancer, heart disease, stroke, diabetes, and arthritis. Empty capsules are used to deliver a variety of drugs without changing their formulation, these capsules are designed to ensure proper drug delivery while not interfering with any drug formulation. For instance, in January 2022, according to research published by the American Cancer Society, a US-based health organization, in the US, 609,360 cancer deaths and 1.9 million new cancer cases are anticipated in 2022. It is about 1,670 fatalities each day. Therefore, an increase in the prevalence of chronic diseases is driving the growth of the empty capsules market. In 2023, the empty capsules market was valued at $4.2 billion and is expected to grow to $7.1 billion by 2028.
Get A Free Sample Of The Global Empty Capsules Market ReportGlobal Empty Capsules Market Segments
The global empty capsules market covered in this report is segmented –
1) By Type: Gelatin Capsules, Non-Gelatin Capsules
2) By Functionality: Immediate-release Capsules, Sustained-release Capsules, Delayed-release Capsules
3) By Application: Antibiotic and Antibacterial Drugs, Dietary Supplements, Antacid and Antiflatulent Preparations, Antianemic Preparations, Anti-inflammatory Drugs, Cardiovascular Therapy Drugs, Cough and Cold Drug Preparations, Other Therapeutic Applications
4) By End-User: Pharmaceutical Industry, Nutraceutical Industry, Cosmetic Industry, Research Laboratories
By Geography: The regions covered in the empty capsules market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the empty capsules market in 2023. The regions covered in the empty capsules market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Empty Capsules Industry Players
ACG Group, CapsCanada Corporation, HealthCaps India Limited, Natural Capsules Ltd., Bright Pharma Caps Inc., Suheung Co. Ltd., Roxlor LLC, Lonza Group AG, Capsugel, Goerlich Pharma GmbH, Qualicaps Inc., Comed Chemicals Limited, Wuhan Carma Technology Co. Ltd., Nectar Lifesciences Ltd., Erawat Pharma Limited, Medi-Caps Ltd., Mitsubishi Chemical Holdings Corporation, Snail Pharma Industry Co. Ltd., Sunil Healthcare Ltd., Shanxi Guangsheng Medicinal Capsule Co. Ltd., Aenova Group GmbH, Capsuline Inc., Farmacapsulas SA, Health Pharma, JC Biotech Pvt. Ltd., Lefan Capsule International Inc., Nipro Capsule Co. Ltd., Qingdao Yiqing Medicinal Capsules Co. Ltd., Shaoxing Kangke Capsule Co. Ltd., Sunloc Industrial Co. Ltd.
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Empty Capsules Market Overview
Empty capsules are a stable shell that encapsulates pharmaceuticals or medication combinations in an enclosed shell. The empty capsules can be used to store herbs, powders, and medications.
Empty Capsules Global Market Report 2023 provides data on the global empty capsules market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The empty capsules market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.