Empty capsules are essential tools for drug delivery in the pharmaceutical industry. Empty capsules are two-piece capsules used to hold dry powders, liquids, or tablets for oral administration in nutraceuticals and pharmaceutical products. They provide numerous advantages in drug delivery including accurate dosing, ease of swallowing, and aesthetic appeal.
Global empty capsules market is estimated to be valued at USD 3.21 Bn in 2024 and is expected to reach USD 4.91 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Key Takeaways
Key players operating in the empty capsules market are Capsugel, ACG Worldwide, Qualicaps, Shanxi GS Capsule, CapsCanada, Suheung Co., Ltd., Qingdao Capsule, Lefan Capsule, Sunil Healthcare.
The growing Empty Capsules Market Trends for nutraceuticals and innovative delivery systems is fueling the empty capsules market growth. The increasing incidence of lifestyle diseases and growing health awareness have boosted the demand for supplements and nutraceuticals globally. This has significantly driven the empty capsules consumption.
The empty capsules market is expanding globally due to the growing pharmaceutical industry worldwide. The rapid economic development in emerging countries has resulted in increased healthcare spending and consumption of medicines, which is driving the empty capsules demand. Major market players are focusing on strategic expansion plans to grasp untapped opportunities across developing regions.
Market Key Trends
One of the key trends in the empty capsules market is the surge in vegan capsules. With growing demand for plant-based products, companies have introduced various types of plant-derived capsules including hypromellose and starch capsules. These vegetable-based capsules are suitable for vegans and help companies tap into the burgeoning vegan population. The plant-derived capsules segment is expected to witness considerable growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low set up requirements make it easy for new players to enter the market. However, established brands dominate the market.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and less differentiation between products of various manufacturers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes for raw materials.
Threat of new substitutes: Threat of substitution is moderate as new drug delivery forms can replace capsules.
Competitive rivalry: Intense as major players focus on expanding their product portfolios and geographical presence.
Geographical Regions
North America accounts for the largest share in empty capsules market in terms of value due to increasing generic drug production and rising pharmaceutical market.
Asia Pacific is expected to grow at the fastest rate during the forecast period. This is attributed to rising pharmaceutical manufacturing, increasing healthcare infrastructure and high incidence of chronic diseases in emerging economies such as India and China.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Ravina Pandya
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