The global empty capsules market is estimated to grow at a CAGR of 7.2% during the forecast period, to reach USD 2.13 Billion by 2021. The rapidly increasing aging population, growing applications in the pharmaceutical and nutraceutical industries, and growing consumer preference towards capsule-based formulations are the major factors driving the growth of the market. However, increasing raw material prices, stringent regulatory frameworks, and religious as well as cultural specifications are expected to limit the growth of this market to a certain extent.
In this report, the empty capsules market is segmented on the basis of products, therapeutic applications, end users, and regions. Based on products, the market is subsegmented into gelatin and non-gelatin capsules. In 2015, the gelatin capsules segment accounted for the largest share of the global market. The large share of this segment is mainly due to factors such as the development of a wide range of formulations using hard gelatin capsules as a simple form for oral drug delivery and increasing use of gelatin capsules in novel drug delivery systems with modified and targeted drug-release properties. The non-gelatin capsules segment is expected to grow at the highest CAGR during the forecast period. Growth in this segment is mainly due to strict government regulations regarding the use of animal-derived gelatin in pharmaceutical and nutraceutical products, dietary sensitivity of patients, and drug incompatibilities with gelatin capsules.
Based on therapeutic applications, the empty capsules market is subsegmented into antibiotic and antibacterial drugs, vitamins and dietary supplements, antacid and antiflatulent preparations, antianemic preparations, anti-inflammatory and anti-rheumatic drugs, cardiac therapy drugs, cough and cold preparations, and other therapeutic applications. The antibiotic and antibacterial drugs segment accounted for the largest share of the global empty capsules market in 2015. Based on end users, the market is subsegmented into the pharmaceutical industry, nutraceutical industry, cosmetics industry, and research laboratories. The pharmaceutical industry accounted for the largest share of the market in 2015.
Geographically, the empty capsules market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America commanded a major share of the market. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period. Growth in the Asia-Pacific market can be attributed to growth in the pharmaceutical and nutraceutical industries along with less stringent regulations in the nutraceutical industry, increasing number of new healthcare facilities, and rising healthcare awareness.
The prominent players in the global empty capsules market include ACG Worldwide (India), Capsugel (U.S.), CapsCanada Corporation (Canada), Qualicaps, Inc. (U.S.), Suheung Co., Ltd. (Korea), Medi-Caps Ltd. (India), Roxlor LLC (U.S.), Bright Pharma Caps (U.S.), Snail Pharma Industry Co., Ltd. (China), and Sunil Healthcare Ltd.(India).