Empty capsules market size to increase by USD 1.10 billion from 2021 to 2026: ACG and Bright Pharma Caps Inc. among key vendors - Technavio

NEW YORK, April 13, 2023 /PRNewswire/ -- The empty capsules market size is forecast to increase by USD 1.10 billion from 2021 to 2026, at a CAGR of 7.3%, according to the recent market study by Technavio. The growth of the market will be driven by the increasing applications in the pharmaceutical industry, technological advances in empty capsules, and the growing geriatric population. Charts & data tables about market and segment sizes and analysis for the forecast period (2022-2026) have been covered in this report. Download the sample report

Vendor analysis: Vendor offerings

Technavio has extensively analyzed 15 major vendors, including ACG, Bright Pharma Caps Inc., Ajix Inc., Healthcaps India Ltd., Lonza Group Ltd., Mitsubishi Chemical Holdings Corp., Nectar Lifesciences Ltd., Qingdao Yiqing Biotechnology Co. Ltd., Roxlor LLC, Shanxi Guangsheng Medicinal Capsule Co. Ltd., Shanxi JC Biological Technology Co. Ltd., Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Sunil Healthcare Ltd. The key offerings of some of these vendors are listed below:

• ACG - The company offers HX vegetarian capsules that are suitable for pharmaceutical and nutraceutical applications. They are available in different color combinations of blue and white and can be used with titanium dioxide-free opacifiers.
• Bright Pharma Caps Inc. - The company offers hydroxypropyl methylcellulose capsules produced with 100% plant-derived material. They are suitable for a wide range of formulations, including those that are liquid, hygroscopic, or otherwise sensitive to moisture.
• Healthcaps India Ltd. - The company offers empty hard gelatin capsule shells, which are widely used in the encapsulation of drugs, vitamins, and antibiotics in powder and pellet forms by major pharmaceutical companies in India and abroad.
• Lonza Group Ltd. - The company offers Coni Snap empty gelatin capsules, which are free from all synthetic excipients, such as SLS and mag stearate. These capsules fulfill the characteristics of nutritional ingredients and dietary preferences for consumers.
• Mitsubishi Chemical Holdings Corp. - The company offer Quali GTM gelatin capsules, which are two-piece hard capsules for solid oral dosage forms. They are also used for dry powder inhalers, as well as for a broad line of pharmaceutical processing equipment.

Key benefits for industry players & stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Market Segmentation:

The market is segmented by type (gelatin capsules, and non-gelatin capsules) and geography (North America, Europe, Asia, and the Rest of the World (ROW)).

Based on type, the gelatin capsules segment will account for a significant share of the market growth during the forecast period. Gelatin capsules offer convenient packaging that ensures reliable dosing, portability, and high consumer compliance. As these capsules are soft, breakdown of the film and absorption of the drugs can be achieved without any side effects. Gelatin capsules are widely used in medications and dietary supplements. These factors will drive the growth of the gelatin capsules segment during the forecast period.

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North America will account for 37% of the market's growth during the forecast period. The US is the key contributor to the empty capsules market in the region. Moreover, market growth in North America will be faster than the growth of the market in the Rest of the World (ROW). Factors such as the demand for US FDA-approved generic medicines will drive the market's growth in the region during the forecast period.

Market dynamics:

Key drivers:

• Increasing applications in the pharmaceutical industry
• Technological advancements in empty capsules
• Growing geriatric population

The rise in the geriatric population and the demand for quick pharmaceutical services are driving the production of therapeutics. Factors such as rising healthcare awareness are increasing the sales of over-the-counter (OTC) drugs. OTC drug manufacturers are introducing medicines for treating minor ailments to cater to consumer requirements. This, in turn, increases the demand for empty capsules. Therefore, the rise in pharmaceutical sales is expected to augment the growth of the global market during the forecast period.

Major trends:

• Increasing demand for generic drugs
• New revenue pockets for empty capsules manufacturers
• Increasing M&A

Generic drugs are substitutes for already marketed branded drugs. They have the same performance characteristics, clinical benefits, quality, dosage form, strength, safety, intended use, and route of administration as branded drugs. These drugs do not have to pass clinical trial or tests, which reduces their upfront research costs. In the past decade, generic drugs have saved USD 2.2 trillion dollars for the US healthcare system, according to the US FDA. Therefore, the increasing demand for generic drugs will support market growth during the forecast period.

Key challenges:

• Risk of counterfeiting in pharmaceutical industry
• Increasing prices of gelatin
• Cultural practices and dietary restrictions

Counterfeit drugs can pose a threat to the lives of patients. They can also lead to financial losses for vendors of pharmaceuticals and packaging. This is because the after-effects of counterfeit drugs can harm the brand reputation of original manufacturers and lower consumer confidence. Moreover, the global pharmaceutical supply chain is complex, which increases the chance of an original product being stolen or replaced with counterfeit products. Thus, the risk of counterfeiting in the pharmaceutical industry can challenge the growth of the global market during the forecast period.

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What are the key data covered in this empty capsules market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the empty capsules market between 2022 and 2026
• Precise estimation of the size of the empty capsules market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the empty capsules market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Empty Capsules Market vendors

Related Reports:

The global enteric empty capsules sales market size is estimated to grow by USD 55.74 million between 2021 to 2026, accelerating at a CAGR of 12.59%. This report extensively covers market segmentation by end-user (pharmaceutical, health supplements, and others) and geography (North America, Asia, Europe, and Rest of World (ROW)).

The smart pills drug delivery market size is expected to increase by USD 4.69 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 18.66%. The market is segmented by application (capsule endoscopy, drug delivery, and patient monitoring) and geography (North America, Europe, Asia, and Rest of World (ROW)

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

• 5.1 Market segments 
• Exhibit 24: Chart on Type - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

• 5.2 Comparison by Type 
• Exhibit 26: Chart on Comparison by Type
• Exhibit 27: Data Table on Comparison by Type

• 5.3 Gelatin capsules - Market size and forecast 2021-2026
• Exhibit 28: Chart on Gelatin capsules - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Gelatin capsules - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Gelatin capsules - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Gelatin capsules - Year-over-year growth 2021-2026 (%)

• 5.4 Non-Gelatin capsules - Market size and forecast 2021-2026
• Exhibit 32: Chart on Non-Gelatin capsules - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Non-Gelatin capsules - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Non-Gelatin capsules - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Non-Gelatin capsules - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Type 
• Exhibit 36: Market opportunity by Type ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Europe - Market size and forecast 2021-2026
• Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.5 Asia - Market size and forecast 2021-2026
• Exhibit 50: Chart on Asia - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Asia - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Asia - Year-over-year growth 2021-2026 (%)

• 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
• Exhibit 54: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)

• 7.7 US - Market size and forecast 2021-2026
• Exhibit 58: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.8 Germany - Market size and forecast 2021-2026
• Exhibit 62: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.9 UK - Market size and forecast 2021-2026
• Exhibit 66: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.10 China - Market size and forecast 2021-2026
• Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026 
• Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 Market opportunity by geography 
• Exhibit 78: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 79: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 80: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 81: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 82: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 83: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 84: Matrix on vendor position and classification

• 10.3 ACG 
• Exhibit 85: ACG - Overview
• Exhibit 86: ACG - Product / Service
• Exhibit 87: ACG - Key offerings

• 10.4 Ajix Inc. 
• Exhibit 88: Ajix Inc. - Overview
• Exhibit 89: Ajix Inc. - Product / Service
• Exhibit 90: Ajix Inc. - Key news
• Exhibit 91: Ajix Inc. - Key offerings

• 10.5 Bright Pharma Caps Inc. 
• Exhibit 92: Bright Pharma Caps Inc. - Overview
• Exhibit 93: Bright Pharma Caps Inc. - Product / Service
• Exhibit 94: Bright Pharma Caps Inc. - Key offerings

• 10.6 Healthcaps India Ltd. 
• Exhibit 95: Healthcaps India Ltd. - Overview
• Exhibit 96: Healthcaps India Ltd. - Product / Service
• Exhibit 97: Healthcaps India Ltd. - Key offerings

• 10.7 Lonza Group Ltd. 
• Exhibit 98: Lonza Group Ltd. - Overview
• Exhibit 99: Lonza Group Ltd. - Product / Service
• Exhibit 100: Lonza Group Ltd. - Key news
• Exhibit 101: Lonza Group Ltd. - Key offerings

• 10.8 Mitsubishi Chemical Holdings Corp. 
• Exhibit 102: Mitsubishi Chemical Holdings Corp. - Overview
• Exhibit 103: Mitsubishi Chemical Holdings Corp. - Business segments
• Exhibit 104: Mitsubishi Chemical Holdings Corp. - Key offerings
• Exhibit 105: Mitsubishi Chemical Holdings Corp. - Segment focus

• 10.9 Nectar Lifesciences Ltd. 
• Exhibit 106: Nectar Lifesciences Ltd. - Overview
• Exhibit 107: Nectar Lifesciences Ltd. - Product / Service
• Exhibit 108: Nectar Lifesciences Ltd. - Key offerings

• 10.10 Qingdao Yiqing Biotechnology Co. Ltd.
• Exhibit 109: Qingdao Yiqing Biotechnology Co. Ltd. - Overview
• Exhibit 110: Qingdao Yiqing Biotechnology Co. Ltd. - Product / Service
• Exhibit 111: Qingdao Yiqing Biotechnology Co. Ltd. - Key offerings

• 10.11 Shanxi Guangsheng Medicinal Capsule Co. Ltd.
• Exhibit 112: Shanxi Guangsheng Medicinal Capsule Co. Ltd. - Overview
• Exhibit 113: Shanxi Guangsheng Medicinal Capsule Co. Ltd. - Product / Service
• Exhibit 114: Shanxi Guangsheng Medicinal Capsule Co. Ltd. - Key offerings

• 10.12 Suheung Co. Ltd. 
• Exhibit 115: Suheung Co. Ltd. - Overview
• Exhibit 116: Suheung Co. Ltd. - Product / Service
• Exhibit 117: Suheung Co. Ltd. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 118: Inclusions checklist
• Exhibit 119: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 120: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 121: Research methodology
• Exhibit 122: Validation techniques employed for market sizing
• Exhibit 123: Information sources

• 11.5 List of abbreviations 
• Exhibit 124: List of abbreviations

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