(MENAFN- GlobeNewsWire - Nasdaq) Growing Acceptance of Capsule-in-Capsule technology to Ascertain Gastrointestinal Safety of Patients to Elevate market Prospects for Manufacturers of Empty Capsules- Read More for Latest Analysis by FMI
NEWARK, Del, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The empty capsule market is poised for significant growth and is projected to reach USD 2,956.6 million in 2024. The sales of empty capsules are expected to witness a robust CAGR of 8.0% from 2024 to 2034. By 2034, the demand for empty capsules is anticipated to reach a valuation of USD 6,378.6 million . In the pharmaceutical sector, empty capsules are commonly used to encapsulate a variety of medications. As the world's population grows and ages, anticipates the demand for pharmaceutical items, boosting the empty capsule industry.
The rising consumption of numerous drugs coupled with the increasing popularity of capsules over other drug delivery forms is a major factor boosting the sales of empty capsules. As the global burden of chronic disease continues to rise, demand for therapeutics is anticipated to increase at a substantial pace. This is, in turn, expected to generate lucrative growth prospects for the suppliers of empty capsules.
People, especially the geriatric population, prefer to consume capsules over other forms due to their easy-to-use nature. Consumer inclination towards capsules will continue to encourage manufacturers to increase the production of empty capsules during the forecast period. As a result, a positive trajectory has been predicted for the empty capsules market growth by Future Market Insights for the assessment period.
Empty capsules are protective shells for drugs made from special film-forming materials such as gelatin, starch, and pullulan. They have emerged as innovative drug delivery products used by leading pharmaceutical and biopharmaceutical companies due to their various attractive features.
These capsules are economical, oxidation resistant, offer maximum flexibility, and are easy to use on account of their smooth and slippery nature. They are especially suitable for substances having a bitter taste and unpleasant odor.
Further, the rising prevalence of numerous diseases worldwide coupled with growing consumer awareness about the benefits of capsules is expected to create ground for empty capsule market growth during the forecast period.
Currently, the empty pill capsules market accounts for around 1% share of the global drug delivery technology market . The flexibility of these fillable capsules is expected to substantially promote the use of empty pills in the nutraceutical and pharmaceutical sectors.
Similarly, the growing popularity of vegetarian empty capsules, coupled with the rapid growth of the global drug delivery solutions market , is anticipated to push the sales of empty capsules during the forthcoming period.
Regional Outlook
The North American empty capsule market is expected to dominate because of a large elderly population and established distribution networks. The expanding pharmaceutical industry accelerates market expansion of empty capsules. Demand in the region is majorly driven by the rising consumption of pharmaceuticals and nutraceuticals and the presence of leading market players. Further, the growing consumer inclination towards vegetarian empty capsules, favorable government support, and rising demand for preventive care, are all propelling market expansion.
Europe is likely to hold a significant share due to high product availability, rising disease prevalence, and increased research and development. The United Kingdom empty pill market had a considerable share, while the demand for empty capsules rapidly expanded in Germany. The German empty capsules market is committed to the growth of the Europe region. Manufacturers operating in the region are making efforts to maintain a permanent stock of commonly required capsule types and sizes in their warehouses, to enable prompt dispatch of any orders
The Asia Pacific empty capsule market is likely to develop quickly between 2024 and 2034 due to the growing patient pool. The increase in healthcare infrastructure expenses is further expected to stimulate market expansion. China has an enormous market share, while India is swiftly expanding in Asia Pacific. Empty medicine capsule consumption is anticipated to rise at a healthy pace in Japan owing to increasing usage by the geriatric population and growing consumer awareness about the benefits of capsules over other forms.
Buy Now:
“ The empty pill market is expected to expand due to increased demand for medications and nutraceuticals. The growing emphasis on personalized medicine and new drug delivery technologies expands potential while encouraging market expansion and rivalry among vendors.”, Says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) .
Empty Capsule Market Key Takeaways:
The gelatin-based capsules segment in the product type category to grab a share of 59% from 2024 to 2034. In the raw material category, the Type-B segment is to acquire a share of 28.2% between 2024 and 2034. The size "0" capsules segment in the capsule size category to grab a share of 20.4% from 2024 to 2034. A 90.3% market share is expected for the oral administration sector in the route of administration category between 2024 and 2034. The United States sales of empty capsules are anticipated to surge at a CAGR of 8.8% in 2024. Germany empty capsule market is to develop at a CAGR of 8.4% through 2024. Canada empty capsule sales are expected to surge at a CAGR of 6.2% from 2024 to 2034. Italy empty capsule industry is anticipated to boost at a CAGR of 3.2% between 2024 and 2034. Japan empty pill market is likely to exhibit a CAGR of 7.8% from 2024 to 2034.
Competitive Landscape
Leading manufacturers of empty capsules have secured their positions in the industry owing to increased research funding and a superior distribution network.
Due to the increased awareness of empty capsules, Asia Pacific is seeing the rise of a few small and medium-sized companies. Key empty capsule vendors engage in strategic alliances and product launches to maintain their competitive market positions.
Novel Developments
In February 2023, Vivion, Inc., a global supplier of ingredient solutions, announced the debut of a new product range of empty gelatin, HPMC, and pullulan capsules. CapsCanada, a Lyfe Group firm, announced in March 2021 the debut of a new liquid-filled hard capsule manufacturing service. Dr. Reddy Laboratories gained license from the United States Food and Drug Administration (USFDA) in August 2020 to manufacture generic Penicillamine capsules used to treat Wilson's disease and cystinuria.
Leading Companies in the Empty Capsule Market :
ACG Worldwide
Capsugel
Qualicaps Inc.
Bright Pharma Caps Inc.
Sunil Healthcare Ltd.
CapsCanada Corporation
Roxlor LLC
Snail Pharma Industry Co. Ltd.
Suheung Co. Ltd.
Medi-Caps Ltd.
Full Report URL:
Key Empty Capsule Market Segments:
By Product Type:
Gelatin Based Capsules Vegetarian Based Capsules
By Raw Material:
Type-A Type-B Gelatin Fish Bone Gelatin Hydroxy Propyl Methyl Cellulose (HPMC) Starch Materials Pullulan
By Capsule Size:
Size "000" Empty Capsules Size "00" Empty Capsules Size "0" Empty Capsules Size "1" Empty Capsules Size "2" Empty Capsules Size "3" Empty Capsules Size "4" Empty Capsules Size "5" Empty Capsules
By Route of Administration:
Oral Administration Inhalation Administration
By End User:
Pharmaceutical Companies Cosmetic and Nutraceutical Companies Clinical Research Organizations
By Region:
North America Latin America Europe East Asia South Asia and Pacific The Middle East and Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
Have a Look at the Related Report from the Empty Capsule Market :
The global advanced empty capsules market is anticipated to generate revenues of US$ 905.6 million in 2023. Demand for advanced empty capsules is projected to develop at a CAGR of 7.4% and reach US$ 1,856.1 million by 2033.
Taking convenience to a whole new level, flavored empty capsules are becoming a suitable choice for several medications and supplements, with their demand set to rise at 6.7% CAGR through 2034.
The global capsule endoscope and workstations market stood at around US$ 179.9 Million in 2021 and is slated to increase at a CAGR of 16.2% to reach a valuation of US$ 841.0 Milion by 2032.
According to Future Market Insights research, during the projected period, the global enteric softgel capsules market is expected to grow at a CAGR of 6.7%. The market value is projected to increase from US$ 305.3 million in 2023 to US$ 582.5 million by 2033.
The global wine capsule market is valued at USD 1.91 billion in 2024 from USD 1.82 billion in 2023. The industry is running toward achieving USD 3.5 billion by 2034, with a CAGR of 5.2% through 2034.
The global automated CPR device market is estimated to be worth USD 150.6 million in 2024 and is projected to reach a value of USD 255.7 million by 2034. Global sales of automated CPR devices are slated to soar at a CAGR of 5.4% over the assessment period.
The diabetic macular edema market is estimated to hold a valuation of around USD 4,120.9 million in 2024. The valuation is set to cross USD 4,642.9 million by 2034, at a CAGR of 1.2% through 2034. In the forecast, the growth rate is likely to be very moderate, as the market is now quite mature and very slightly fragmented compared with several disease drug markets.
The global wearable medical device industry size is likely to generate sales amounting to USD 38.5 billion in 2024. Over the assessment period from 2024 to 2034, the wearable medical device market CAGR is projected to expand to 8.2%, culminating in a market size of USD 84.8 billion by the end of 2034.
The global sterile injectable CDMO market is projected to surge at a CAGR of 11.7% by 2034. The market value is set to increase from USD 11.1 billion in 2024 to USD 33.7 billion by 2034.
The global cervical pillow market size stands at USD 1,281.4 million in 2024. The valuation is estimated to reach USD 2,168.1 million by 2034. Growing prevalence of cervical and back pain issues has raised funds for the development of innovative and ergonomic bedding products.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: ...
Website:
LinkedIn | Twitter | Blogs | YouTube
MENAFN14082024004107003653ID1108553714