May 21, 2024

Empty Capsules Market: Driving Efficiency in Drug Delivery Solutions

Empty Capsules Market

Empty capsules are widely used for encapsulating powder, granules, pills or tablets in the pharmaceutical and nutraceutical industries. They are cost-effective and convenient for consumption compared to Conventional tablets and other delivery formats. The gelatin-based empty capsules are easy to swallow and provide minimal aftertaste and irritation. Growing demand for herbal drugs and supplements from health-conscious consumers has augmented the requirement for empty capsules globally.

The global empty capsules market is estimated to be valued at US$ 2.3 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.

Key Takeaways
Key players operating in the empty capsules market are ACG Worldwide, Capsugel, Qualicaps Inc., Bright Pharma Caps Inc., Sunil Healthcare Ltd., CapsCanada Corporation, Roxlor LLC, Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Medi-Caps Ltd.

The empty capsules market provides ample opportunities for contract manufacturing and private labeling of capsules. Emerging Asian markets like India and China offer lucrative growth prospects for international players to expand their geographical footprint.

Globally, nutritional supplement firms are increasingly outsourcing empty capsules manufacturing to specialized capsules producers to streamline their supply chain and manage bulk production requirements efficiently. This trend is expected to accelerate the global expansion of leading empty capsules manufacturers over the forecast period.

Market drivers
Growing demand for pharmaceutical and nutraceutical products is the major factor driving the empty capsules market. There is a rising preference for capsules over other delivery formats owing to easy dosing and improved compliance. Additionally, shifting consumer preference towards herbal and natural remedies is augmenting the requirement of empty capsules from supplements makers globally. This is expected to fuel the growth of the empty capsules market over the next decade.

PEST Analysis
Political: The empty capsules market is regulated by regulatory bodies related to healthcare and pharmaceutical industry in different regions and countries. Manufacturers have to comply with various regulations regarding manufacturing processes and packaging of capsules.

Economic: Rise in disposable incomes and growing healthcare spending have fuelled the demand for empty capsules from pharmaceutical companies. Growing generic and OTC drug markets have also created opportunities for empty capsule manufacturers.

Social: Increasing prevalence of lifestyle diseases and growing elderly population have led to increased consumption of medicines. This has boosted demand for capsules from drug manufacturers. Shift towards convenient packaging of drugs has also benefited the empty capsules market.

Technological: Advancements in technology have aided automation of capsule production processes. New materials and formulations are being developed to customize properties like solubility, disintegration and release characteristics. 3D printing technology is also finding applications in capsule manufacturing.

Geographical concentration of market in terms of value

The empty capsules market in North America and Europe accounted for over 60% of global market value in 2023, led by widespread access to healthcare and well-established pharmaceutical industries. However, Asia Pacific is emerging as the fastest growing regional market with increased domestic demand and investments by international players to tap opportunities in populous countries like India and China. Latin America and Middle East & Africa also present ample opportunities for market expansion.

Fastest growing region

The Asia Pacific region is projected to be the fastest growing regional market for empty capsules during the forecast period. This is attributed to rising healthcare spending, increasing public awareness, growing geriatric population, and expanding pharmaceutical industry in the region. China and India have emerged as major manufacturing hubs and also contribute significantly to the demand. Presence of major generic drug manufacturers is further propelling market growth in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it