The global Empty Capsules Market is projected to reach USD 2.79 billion by 2023 from USD 1.95 billion in 2018, at a CAGR of 7.4%. The growing adoption of capsule formulations among the growing geriatric population, growth of the pharmaceutical market along with the increasing R&D activities & clinical trials, and advancements in capsule delivery technologies are some of the major factors driving the growth of the market. Emerging markets (due to their low manufacturing costs) are expected to present significant opportunities for market players. Other areas of opportunity are the development of halal gelatin capsules and the rising focus on sports nutrition. However, cultural practices and dietary restrictions along with price fluctuations of raw materials are expected to challenge the growth of the market to a certain extent during the forecast period.
Based on functionality, the immediate-release capsules segment accounted for the largest share of the market in 2017. The large share of this segment can be attributed to the widespread use of these capsules for the manufacture of antibiotics, antibacterials, antacids, painkillers, inhalators, cold and cough drugs, and dietary supplements. Also, immediate-release capsules are the most commonly prescribed capsules to treat a wide range of diseases and disorders.
Download FREE Sample Pages: https://www.marketsandmarkets.com/requestsample.asp?id=218018190
Based on application, the dietary supplements segment is expected to register the highest CAGR during the forecast period. Factors such as increased health awareness and rising affordability in emerging countries (such as India, China, and Brazil), increasing prevalence of lifestyle diseases, and increasing use of vitamin capsules due to their availability as over-the-counter (OTC) drugs are contributing to the growth of this segment.
On the basis of end user, the pharmaceutical industry segment accounted for the largest share of the market in 2017. The demand for empty capsules in the pharmaceutical industry is largely driven by the increasing number of drugs launched as capsule formulations and growing prevalence of diseases for which capsule-based formulations form the primary treatment. The rising demand for innovative drug delivery formulations is also supporting the growth of the market for the pharmaceutical industry.
The prominent players in the market are Capsugel (US), ACG Worldwide (India), Qualicaps (Japan), Suheung Co. Ltd. (South Korea), CapsCanada Corporation (Canada), Qingdao Yiqing Medicinal Capsules Co., Ltd. (China), Shanxi Guangsheng Medicinal Capsules Co., Ltd. (China), Healthcaps India Ltd. (India), Snail Pharma Industry Co. Ltd. (China), Roxlor (US), Sunil Healthcare Ltd. (India), Medi-Caps Ltd. (India), Nectar Lifesciences Ltd. (India), Natural Capsules Ltd. (India), and Bright Pharma Caps Inc. (US).
Know More: https://www.marketsandmarkets.com/Market-Reports/empty-capsules-market-218018190.html
