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Empty capsules are two-piece shells that are used as dosage forms in pharmaceutical preparations. They provide ease of swallowing, accurate dosing, and safe delivery of drugs to patients. Empty capsules offer flexibility of incorporating different types of formulations like powders, pellets, and granules. They help expedite drug development process by providing customized solutions as per manufacturing requirements.
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. Some of the key opportunities in the market include increasing outsourcing of manufacturing activities from pharmaceutical companies to contract development and manufacturing organizations. This is helping expand the production capabilities and volumes.
The manufacturers are undertaking various strategic initiatives like mergers, acquisitions, and partnerships to reinforce their presence across global markets. Numerous countries in Asia Pacific and Latin America provide huge untapped growth potential. Major players are focusing on these emerging economies through joint ventures and collaborations with local players.
Market Drivers
The growing pharmaceutical industry worldwide is the major factor driving the empty capsules market. There is a rise in prescription volumes and increasing demand for various drugs to treat chronic diseases like diabetes, cancer, cardiovascular disorders. This is positively impacting the demand for empty capsules. Empty capsules provide flexibility of incorporating various types of formulations and offer convenience of swallowing to patients. Drug developers are adopting them for clinical trials and commercial scale production. This fuel the market growth over the forecast period.
PEST Analysis
Political: The empty capsules market is regulated by government bodies and pharmaceutical regulations to ensure safety, quality and efficacy standards are met. Manufacturers need to adhere to GMP guidelines.
Economic: Factors influencing the economic environment of the industry include healthcare spending, availability of advanced processing technologies, and spending power of consumers. Growth in biopharmaceutical industry creates demand for empty capsules.
Social: Increasing health consciousness, rising lifestyle diseases, and growing aging population drive the demand for nutritional supplements and medications, boosting the market. Shift towards personalized medicine also contributes to market growth.
Technological: Advanced capsule filling machines with high throughput, integrated quality control systems, and automation in production processes help improve efficiency and meet large scale manufacturing needs. Continuous innovation facilitates development of customized capsules.
The Asia Pacific region accounts for around 40% of the global empty capsules market value, led by countries like China, India, and Japan. This is attributed to rising healthcare expenditure, growing generics industry, presence of key manufacturers, and increasing consumption of dietary supplements and medications. The region is poised to witness the fastest growth during the forecast period supported by expanding middle class population, rapid economic development and growing medical tourism industry.
North America captures around 30% market share and remains a major revenue generator owing to well-established pharmaceutical industry, high adoption of new drug delivery technologies, and rising prevalence of lifestyle diseases driving product demand. Major world’s leading pharmaceutical companies with large facilities for R&D and clinical trials are located in the region, stimulating empty capsules consumption.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
