Growth of the empty capsules market is largely driven by the growing adoption of capsule formulations among the growing geriatric population, the growth of the pharmaceutical market, increasing R&D activities & clinical trial studies, and advancements in capsule delivery technologies. Emerging markets, with their low manufacturing costs, are expected to present significant opportunities for players.
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According to MarketsandMarkets, the nutraceutical ingredients market was valued at USD 162.1 billion in 2020 and is projected to reach USD 227.5 billion by 2025, at a CAGR of 7.0% from 2020 to 2025. Nutraceutical products are usually rich in fiber, antioxidants, heart-healthy ingredients, vitamins and minerals, omega-3 fatty acids, vitamin D, calcium, and whole grains.
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.
Based on type, the empty capsules market is categorized into gelatin capsules and non-gelatin capsules. In 2020, gelatin capsules accounted for the largest share in the empty capsules market. The various advantages of gelatin capsules, such as rapid drug release, uniform mixing of drugs, and a barrier to atmospheric oxygen (preventing oxidation of drug molecules), make them a preferred choice for manufacturing capsule shells.
Based on end users, the empty capsules market is segmented into the pharmaceutical industry, nutraceutical industry, cosmetic industry, and research laboratories. The pharmaceutical industry segment accounted for the largest share in the empty capsules market in 2020. The demand for empty capsules in the pharmaceutical industry is largely driven by the increasing number of drugs launched as capsule formulations and the growing prevalence of diseases for which capsule-based formulations form the primary treatment.
Based on functionality, the empty capsules market has been segmented into immediate-release, sustained-release, and delayed-release capsules. In 2020, immediate-release capsules accounted for a major share in the empty capsules market. This is because immediate-release capsules are widely used to manufacture antibiotics, antibacterials, antacids, painkillers, inhalators, cold and cough drug preparations, and dietary supplements.
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The prominent players operating in this market are Capsugel (US), ACG Worldwide (India), Qualicaps (US), Suheung Co. Ltd. (Korea), CapsCanada Corporation (Canada) and others
Capsugel was the leading player in the empty capsules market in 2020. The company is largely known for its diversified product offerings for the pharmaceutical and nutraceutical industry. Capsugel offers a comprehensive portfolio of empty capsules, ranging from gelatin, vegetarian, filled hard, functional, inhalation, HPMC, gelatin, alternate polymer, specialized clinical, and enteric capsules. In addition, the company also offers acid-resistant capsules, gelcaps, dry powder inhaler capsules, capsule-in-capsule technology products, and solid lipid pellet technology products.
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. The growing emphasis on superior pharmaceutical products and generics has also led to increased demand for empty capsules.
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