Overview of This Study:
This research study on Empty Capsules involved the use of widespread secondary sources; directories; databases such as D&B, Bloomberg Business, and Factiva; white papers; annual reports; and Companies’ House documents. Secondary research was used to identify and collect information for this extensive, technical, market-oriented, and commercial study of the global empty capsules market.
Research Methodologies Followed:
Primary Research:
In the primary research process, various sources from both supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, product and innovation directors, and related key executives from various key companies and organizations operating in the empty capsules market.
Secondary Research:
The various secondary sources referred for this study include the European Federation of Pharmaceutical Industries and Associations (EFPIA), Central Drugs Standard Control Organization (CDSCO), Drugs Technical Advisory Board (DTAB), Pharmaceutical Research and Manufacturers of America (PhRMA), Indian Pharmaceutical Association (IPA), Indian Drug Manufacturers’ Association, Generics and Biosimilars Initiative (GaBI), PharmaTimes, World Journal of Pharmaceutical Sciences, World Health Organization (WHO), P-MEC News, Expert Interviews, India2Connect, Zauba, CDC, Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentations, Journals, Expert Interviews, and MarketsandMarkets Analysis.
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Revenue Gains Expectations:
The global empty capsules market is projected to reach USD 3.7 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 7.2% during the forecast period. Emerging markets, with their low manufacturing costs, are expected to present significant opportunities for players. Other areas of opportunity are the development of halal gelatin and vegetarian capsules.
Opportunity: Expansion of capsule production in emerging countries
The traditionally lucrative pharmaceuticals market is becoming challenging from a growth perspective due to the diminishing drug pipeline, government-induced pressure to reduce costs and regulations on innovative products. This is encouraging pharmaceutical manufacturers to move their manufacturing bases closer to high-growth emerging markets.
Challenges: Rising prices and lower availability of raw materials in the gelatin industry
Globally, the demand for gelatin and its raw materials has witnessed a significant increase over the entire application spectrum—the pharmaceutical industry, in which the demand for capsules for pharmaceutical production has registered a vast increase, and the food processing, nutraceutical, leather, cosmetic, dying & tanning, and paper production industries.
Recent Developments
- Nutra’V TiO2 launched a new range of TiO2-free capsules. Available both in gelatin and HPMC and with excellent machinability, this range of capsules offers the best encapsulation solution for ingredient masking.
- ACG acquired Xertecs, Xertecs develops and implements processes, products, and services for pharma companies across the globe. Its acquisition added to ACG’s capabilities.
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By therapeutic application, the antibiotic & antibacterial segment accounted for the largest share of the empty capsules market.
Based on therapeutic applications, the empty capsules market is segmented into antibiotic & antibacterial drugs, dietary supplements, antacid & antiflatulent preparations, antianemic preparations (hematinic), anti-inflammatory drugs, cardiovascular therapy drugs, cough & cold drugs, and other therapeutic applications.
North America accounted for the largest share of the empty capsules market
North America accounted for the largest share of 37.4% of the global market. The dominance of the North American region can be attributed to the existing presence of major capsule manufacturers with large production capacities, along with the presence of a number of pharmaceutical giants with large production capacities utilizing these capsules.
