The major factors that are expected to be driving the empty capsules market are the growing adoption of capsule formulations among the growing geriatric population, the growth of the pharmaceutical market with the increasing R&D activities & clinical trial studies, and the advancements in capsule delivery technologies. The objective of the report is to define, describe, and forecast the empty capsules market size based on type, functionality, application, end user, and region.

[206 Pages Report] MarketsandMarkets forecasts the Empty Capsules market to grow from USD 1.95 billion in 2018 to USD 2.79 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.

Gelatin is the original and most common material used to produce capsules. However, gelatin is an animal by-product formed from collagen, obtained from the by-products of slaughtered animals including the bones, hides, and hooves of cattle, pigs, horses, fish, and poultry

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Among the type of capsules segment, the non-gelatin capsules segment is expected to grow at the highest CAGR during the forecast period. The increasing demand for non-animal-based products and the advantages offered by these capsules over gelatin-based ones, such as low hygroscopicity, physical stability, stability in different ranges of temperature & humidity, and low moisture content are driving the segment growth.

The immediate-release capsules segment is expected to witness a faster growth rate in this market, as they are widely used for the manufacture of antibiotics, antibacterials, antacids, painkillers, inhalators, cold and cough drug preparations, and dietary supplements. Also, immediate-release capsules are the most commonly prescribed capsules to treat a wide range of diseases and disorders.

The dietary supplements segment is expected to witness a faster growth rate in this market. 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.

Geographical growth scenario of Empty Capsules Market :

North America is expected to hold the largest market size in the empty capsules market during the forecast period, followed by the European region. The highest market share of North America 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.

Driver: Advancement in capsule delivery technologies

Traditionally, capsules were made from gelatin for manufacturing solid dosage forms for the pharmaceutical industry. Technological advancements have provided the empty capsules industry with a growing range of functionality options for capsules-based formulations used by patients. Over the years, capsule delivery has witnessed a number of technological advancements in terms of product enhancements for better quality outcomes and patient comfort. These include the improvement of capsule shells, fill material, capsule-sealing techniques, and capsule systems to achieve modified drug release and the encapsulation of different materials.

Restraint: Cultural practices and dietary restrictions

Gelatin is the original and most common material used to produce capsules. However, gelatin is an animal by-product formed from collagen, obtained from the by-products of slaughtered animals including the bones, hides, and hooves of cattle, pigs, horses, fish, and poultry. Individuals with religious or dietary restrictions that forbid the consumption of animal products are not suited for traditional gelatin capsules.

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Key Market Players :

Capsugel (US), ACG Worldwide (India), Qualicaps (Japan), Suheung Co. Ltd. (Korea), CapsCanada Corporation (Canada)