Empty Capsules Market to Reach $5.23 Bn, Globally, by 2030 at 8.1% CAGR: Allied Market Research

PORTLAND, Ore., Jan. 24, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Empty Capsules Market by Product (Gelatin Capsules and Non-Gelatin Capsules), Raw Material (Pig Meat, Bovine Meat, Bone, Hydroxypropyl Methylcellulose, and Others), Therapeutic Application (Antibiotic & Antibacterial Drugs, Vitamin & Dietary Supplements, Antacids & Anti-flatulent preparations, Cardiac Therapy Drugs, and Others), and End User (Pharmaceutical Manufacturers, Nutraceutical Manufacturers, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global empty capsules industry generated $2.38 billion in 2020, and is expected to reach $5.23 billion by 2030, witnessing a CAGR of 8.1% from 2021 to 2030.

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Drivers, Restraints, and Opportunities

Rise in prevalence of chronic diseases, advancements in technology for development of capsules, and surge in production volumes drive the growth of the global empty capsules market. However, price fluctuations of gelatin materials and stringent regulations in the pharmaceutical industry hinder the market growth. On the other hand, surge in healthcare expenditure creates new opportunities in the coming years.

Covid-19 Scenario

• Owing to lockdown measures implemented during the Covid-19 pandemic, there were certain challenges such as disruptions in the supply chain, lack of workforce, and partial or complete closedown of factories in manufacturing of empty capsules.
• The demand from end users such as pharmaceutical manufacturers, nutraceutical manufacturers, and others reduced for a certain period as manufacturing activities were stopped. However, the demand rose steadily post-lockdown.

The gelatin capsules segment to continue its leadership status during the forecast period

Based on product, the gelatin capsules segment accounted for the highest share in 2020, holding more than four-fifths of the global empty capsules market, and is expected to continue its leadership status during the forecast period. This is due to advancements in R&D activities in the healthcare sector and better advantages of gelatin capsules as compared to other drug delivery forms. However, the non-gelatin capsules segment is estimated to witness the highest CAGR of 9.0% from 2021 to 2030, owing to rise in demand for HPMC capsules and development of plant-derived capsule manufacturing units.

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The pharmaceutical manufacturer segment to maintain its lead during the forecast period

Based on end user, the pharmaceutical manufacturer segment contributed to the largest share in 2020, accounting for around two-thirds of the global empty capsules market, and is projected to maintain its lead in terms of revenue during the forecast period. This is attributed to increase in demand for chemotherapy, rise in prevalence of chronic disease, and advancements in technology in capsule manufacturing. However, the nutraceutical manufacturer segment is expected to portray the largest CAGR of 9.1% from 2021 to 2030. This is due to increase in demand for healthcare supplements, supportive initiatives are taken by the government to promote awareness about dietary supplements, and rise in number of soft gelatin capsules to encapsulate dietary supplements products.

North America to maintain its dominance by 2030

Based on region, North America held the largest market share in 2020, contributing to more than one-third of the global empty capsules market, and is expected to maintain its dominance by 2030. This is due to rise in the prevalence of chronic disease such as cardiovascular disease and cancer, presence of key players for the manufacturing of empty capsules, and advancements in capsule drug delivery technology in the region. However, Asia-Pacific is estimated to witness the fastest CAGR of 9.5% from 2021 to 2030, owing to surge in the geriatric population and rise in demand for immunity booster products.

Leading Market Players

• ACG Worldwide
• Bright Pharma Caps Inc.
• CapsCanada Corporation
• Lonza Group Ltd. (Capsugel)
• Medi-Caps Ltd.
• Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.)
• Roxlor LLC
• Snail Pharma Industry Co. Ltd.
• Suheung Co., Ltd.
• Sunil Healthcare Ltd.

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