PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1500649
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1500649
The empty capsules market is projected to reach USD 4.2 billion by 2029 from an estimated USD 3.1 billion in 2024, at a CAGR of 6.3% during the forecast period. This market's growth can be attributed to the growth in the pharmaceutical market, the increasing number of clinical trials and R&D activities, and the expansion of over-the-counter medications.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) Volume (Units) |
Segments | By Type, Functionality, Therapeutic Application, and End User |
Regions covered | North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
"The gelatin capsules segment accounted for the largest share by type in 2023."
In 2023, the gelatin segment accounted for the largest share of type in the global empty capsules market. Factors such as availability of gelatin empty capsules in various colors, sizes, and printing options enables pharmaceutical companies to tailor their products to specific market segments, enhancing brand recognition and consumer appeal are expected to drive the segmeng growth.
""The Asia Pacific region is growing in the empty capsules market during the forecast period of 2024-2029."
The Asia Pacific region is expected to grow at the highest growth rate during the forecast period. The expanding pharmaceutical industry, combined with increasing healthcare spending, creates a strong demand for these capsules as crucial components in drug delivery systems. Additionally, the rising prevalence of chronic diseases and infectious illnesses necessitates diverse pharmaceutical formulations, further fueling the need for empty capsules. The growing awareness of preventive healthcare and the popularity of dietary supplements also contribute to market growth. Moreover, the region's robust manufacturing capabilities and cost-effective production methods enhance the accessibility of empty capsules across various pharmaceutical and nutraceutical applications. Additionally, favorable government policies and initiatives supporting healthcare infrastructure development and pharmaceutical innovation reinforce the market's expansion.
This research report categorizes the empty capsules market by ((non-gelatin capsules (hydroxypropyl methylcellulose (HPMC) capsules, and pullulan & starch capsules), and gelatin capsules (porcine gelatin, bovine-derived gelatin, bone meal, and other gelatin sources), and), therapeutic application (antibiotic & antibacterial drugs, dietary supplements, antacid & antiflatulent preparations, antianemic preparations, anti-inflammatory drugs, cardiovascular therapy drugs, cough & cold drugs, other therapeutic applications), functionality (immediate-release capsules, sustained-release capsules, and delayed-release capsules), end user (pharmaceutical industry, nutraceutical industry, cosmetic industry, and research laboratories).
The report provides in-depth information on significant factors influencing the growth of the empty capsules market, including drivers, trends, challenges, and opportunities. A thorough analysis of major industry players has been undertaken to provide insights into their business profiles, products, key strategies, collaborations, partnerships, and agreements. Additionally, the report encompasses recent developments such as new product launches, mergers, and acquisitions within the empty capsules market.
The report will help market leaders and new entrants by providing them with the closest approximations of the revenue numbers for the overall empty capsules market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.