As per the report published by The Brainy Insights, the global empty capsules market is expected to grow from USD 2.9 Billion in 2021 to USD 5.7 Billion by 2030, at a CAGR of 8% during the forecast period 2022-2030. North America region emerged as the largest market for the global empty capsules market with a 41% share of the market revenue in 2021. The North American region currently dominates the empty capsules market due to the rising initiatives by the government for helping in the development of the pharmaceutical industry and reducing the prices of the drugs for chronic diseases. The increasing production of capsules for preparing dietary supplements and immunity boosters for the geriatric population is also driving the growth of the market in the region.
Empty Capsules Market Size by Product Type (Gelatin Capsules and Non-Gelatin Capsules); By 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), Region, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
Leading companies in the industry include Suheung Co., Ltd, Roxlor LLC, Snail Pharma Industry Co. Ltd, ACG Worldwide, Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.), CapsCanada Corporation, Lonza Group Ltd. (Capsugel), Medi-Caps Ltd., Bright Pharma Caps Inc., and Sunil Healthcare Ltd. among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The product type segment is divided into gelatin capsules and non-gelatin capsules. The gelatin capsules segment dominated the market with a market share of around 63% in 2021. The gelatin capsule segment is expected to grow during the forecast period as these can easily dissolve in the body and can transfer the drugs to the body quickly. The application segment is divided into vitamin & dietary supplements, antibiotic & antibacterial drugs, cardiac therapy drugs, antacids & anti-flatulent preparations, and others. Over the forecast period, the antibiotic & antibacterial drugs segment is expected to grow at the fastest CAGR of 12%. The rising incidences of inflammatory and infectious diseases is driving the segmental growth. The end-user segment is divided into nutraceutical manufacturers, pharmaceutical manufacturers, and others. In 2021, the pharmaceutical manufacturer’s segment dominated the market, accounting for around 42% of the global market share and market revenue of 1.2 billion. Pharmaceutical manufacturers are growing rapidly as they are increasing the production of capsules owing to the rise in the geriatric population which need dietary supplements and immunity booster to fight chronic diseases.
The rising demand for medicines in the treatment of chronic diseases is driving the growth of the market. The pharmaceutical industry if focusing on developing plant-based capsules which is expected to provide growth opportunities for the expansion of the empty capsules market during the forecast period.