PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515469
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515469
Empty Capsule Market size was valued at USD 2,989.32 Million in 2023, expanding at a CAGR of 6.2% from 2024 to 2032.
The Empty Capsule Market, comprising gelatin and non-gelatin capsules used in pharmaceutical and nutraceutical applications, is driven by the increasing demand for drug delivery systems, the rise in pharmaceutical research and development activities, and the growing preference for oral dosage forms. However, stringent regulatory requirements for quality and safety, along with the fluctuating prices of raw materials, pose challenges to market growth. Nevertheless, opportunities abound with advancements in capsule manufacturing technologies, expanding healthcare infrastructure in emerging markets, and the rising popularity of dietary supplements worldwide.
Empty Capsule Market- Market Dynamics
Rise in Pharmaceutical R&D Activities Driving the Empty Capsule Market
The rise in pharmaceutical research and development activities is significantly driving the Empty Capsule Market. For instance, according to the Pharmaceutical Research and Manufacturers of America (PhRMA), the global pharmaceutical industry invested over USD 102.3 billion in research and development in 2021, focusing on innovative drug delivery systems to enhance therapeutic efficacy. This trend is underscored by initiatives such as the U.S. FDA's support for innovative drug formulations and the European Medicines Agency's emphasis on patient-centered drug development. Such efforts are spurring the demand for empty capsules as versatile carriers for various pharmaceutical formulations, facilitating precise dosage and enhanced patient compliance.
Empty Capsule Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.2% over the forecast period (2024-2032)
Based on product type segmentation, Hard Capsules was predicted to show maximum market share in the year 2023
Based on Type segmentation, Gelatin Capsules was the leading type in 2023
Based on Size segmentation, Size 0 was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Empty Capsule Market is segmented based on Product Type, Type, Size, End-User, and Region.
The market is divided into two categories based on product type: Hard Capsules and Soft Capsules. Hard capsules dominate the Empty Capsule Market due to their widespread use in pharmaceutical applications, offering precise dosage delivery and compatibility with a wide range of formulations. Soft capsules follow, favored for their ease of swallowing and potential for customized formulations in nutraceuticals and dietary supplements.
The market is divided into four categories based on Type: Gelatin Capsules, Non-Gelatin Capsules, HPMC (Hydroxypropyl Methylcellulose) Capsules, and Pullulan Capsules. Gelatin capsules lead the market, valued for their traditional use in pharmaceutical formulations and easy digestibility. Non-gelatin capsules, including HPMC and pullulan capsules, are gaining traction due to their suitability for vegetarian and vegan preferences, offering alternatives for diverse dietary and cultural needs.
Empty Capsule Market- Geographical Insights
North America, led by the United States, holds a significant share due to robust pharmaceutical and dietary supplement industries, coupled with a strong regulatory framework favoring advanced healthcare solutions. Europe follows closely, with countries like Germany and the UK driving market growth through substantial investments in pharmaceutical research and development. The Asia-Pacific region is poised for rapid expansion, driven by increasing healthcare expenditures, a growing geriatric population, and rising adoption of dietary supplements in countries like China and India. Latin America and the Middle East & Africa regions are also witnessing steady growth, supported by improving healthcare infrastructure and increasing consumer awareness regarding health and wellness products.
Several key players such as Capsugel (Lonza Group), ACG Worldwide, CapsCanada Corporation, Qualicaps, and Suheung Co., Ltd. These companies dominate the market through extensive product portfolios, technological advancements in capsule manufacturing, and strategic alliances. They focus on innovation to meet the diverse needs of the pharmaceutical, nutraceutical, and cosmeceutical industries. Regional players also play a significant role, offering specialized products and catering to local market preferences. Market competitiveness is further fueled by ongoing research and development efforts aimed at enhancing capsule quality, safety, and customization capabilities. Strategic partnerships, mergers, and acquisitions are common strategies employed by these players to strengthen their market presence and expand into new geographical regions.
In February 2023, Vivion, Inc., a brand of Operio Group, launched a new product range of empty gelatin, HPMC, and pullulan capsules for encapsulating powders, herbs, medicines, vitamins, supplements, and more.
GLOBAL EMPTY CAPSULE MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
ACG Associated Capsules Pvt. Ltd.
Anhui Huangshan Capsule Co., Ltd.
CapsCanada Corporation
Capsugel (a Lonza Company)
Farmacapsulas S.A.
HealthCaps India Ltd.
JC Biological Technology Co., Ltd.
Medi-Caps Ltd.
Natural Capsules Limited
Qingdao Yiqing Medicinal Capsules Co., Ltd.
Qualicaps Co., Ltd.
Roxlor LLC
Shanxi Guangsheng Medicinal Capsules Co., Ltd.
Snail Pharma Industry Co., Ltd.
Suheung Co., Ltd.
Sunil Healthcare Limited
Others