Empty Capsules Market Expected to Reach $5.230 Billion by 2030 | CAGR of 8.1%

According to a new report published by Allied Market Research, titled, “Empty Capsules Market by Product, Raw Material, Therapeutic Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030," the global empty capsules market size was valued at $2.382 billion in 2020, and is estimated to reach $5.230 billion by 2030, growing at a CAGR of 8.1% from 2021 to 2030.

Capsules are defined as hard and soft containers that can enclose medicines in a particular dosage form. Capsule drug delivery forms have gained immense traction in recent years as they act as relatively stable shells protecting the active pharmaceutical ingredient (API). Empty capsules are the most common container to store powders, herbs, and medicine. There are different size of capsules such as size 000, size 00, size 0, size 00E, size 1, size 2, size 3, and size 4.

Factors that drive growth of the global empty capsules market include rise in the demand for capsule drug delivery form, advancements in capsule drug delivery technology, and surge in demand for healthcare supplements. In addition, rise in concern regarding good health notably contributes toward the growth of the global market. According to the Office of Dietary Supplements, in 2019, it was reported that around 14% of multivitamins/minerals and multivitamin dietary supplements and 38% of vitamin and mineral supplements are purchased in the U.S. This increases the need for empty capsules production and drive growth of the market.

Furthermore, market players are focused on advancements in technology to develop capsules. For instance, in October 2020, Catalent, one of the global leaders in drug delivery technology, announced the launch of OptiGel DR technology, which is used for manufacturing and formulation of enteric/delayed release soft gelatin capsule. Furthermore, increase in prevalence of geriatric population, surge in demand for various dietary supplements, and drug therapy drive the empty capsules market growth. According to the American Association of Retired Persons (AARP), a non-government organization, in January 2019, around 82% of population aged between 55 to 64 years and 88% of those above 65 years consume vitamins and supplements in their diets.

Moreover, rise in disposable income and increase in growth of the pharmaceutical sector for manufacturing of empty capsules are anticipated to drive growth of the empty capsules market. In addition, development of many clinical studies on various types of supplements and drugs to evaluate its safety and efficacy propel growth of the market.

Further, initiatives taken by governments and private organizations to enhance healthcare products and increase in number of pharmaceutical manufacturing sector are the key factors that boost growth of the market. Furthermore, surge in demand for both gelatin and non-gelatin capsules for oral consumption propel growth of the market.

The global empty capsules market is segmented into product, raw material, therapeutic application, end user, and region. On the basis of product, the market is divided into gelatin capsules and non-gelatin capsules. The gelatin capsules are further divided into hard gelatin capsules (HGC) and soft gelatin capsules (SGC). The gelatin capsules segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancements in R&D activities in the healthcare sector and advantages of gelatin capsules as compared to other drug delivery forms. There are various advantages of gelatin capsules such as thermo-reversibility & tableting, non-allergenic, viscoelasticity, and biocompatibility.

Depending on raw material, the empty capsules market is classified into pig meat, bovine meat, bone, hydroxypropyl methylcellulose (HPMC), and others. The pig segment exhibited the highest growth in 2020, and this trend is expected to continue during the forecast period, owing to increase in demand for gelatin capsule production, increase in number of pig population and rise in need for immunity booster.

By therapeutic application, the market is classified into antibiotic & antibacterial drugs, vitamin & dietary supplements, antacids & anti-flatulent preparations, cardiac therapy drugs, and others. The antibiotic & antibacterial drugs segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in incidences of infectious and inflammatory diseases, rise in R&D activities for manufacturing of therapeutic drugs, and increase in adoption of capsule formulation.

By end user, the empty capsules market is classified into pharmaceutical manufacturers, nutraceutical manufacturers, and others. The pharmaceutical manufacturers segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in demand for chemotherapy, rise in prevalence of chronic diseases, development of pharmaceutical capsule manufacturing sectors, and advancements in technology in capsule manufacturing.

The COVID-19 outbreak is anticipated to have a negative impact on growth of the global empty capsules market. The COVID-19 pandemic has stressed healthcare systems in the world and increased the need for development of diagnostic instruments & treatment centers for human. Limited movements of goods and services and imposition of government regulation on the manufacturing sector negatively impact growth of the market. Thus, the COVID-19 pandemic is affecting the world, including the pharmaceutical and biotechnology industry. A number of clinics and hospitals were restructured to increase hospital capacities for patients diagnosed with COVID-19. Implementation of lockdown, owing to the COVID-19 outbreak resulted in decline in number of patient visits for the treatment during the pandemic. This has significantly contributed toward decline of the global market.

Key Findings Of The Study

• By product, the gelatin segment was the highest contributor to the empty capsules market in 2020.
• On the basis of raw material, the pig meat segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
• Depending on therapeutic application, the antibiotic & antibacterial drugs segment was the highest contributor to the empty capsules market in 2020.
• Depending on end user, the pharmaceutical manufacturers segment was the highest contributor to the market in 2020.
• Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

North America garnered a major share in the empty capsules market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of chronic diseases such as cardiovascular diseases and cancer; presence of key players for manufacturing of empty capsules; increase in number of production of capsules; and advancements in capsule drug delivery technology in the region. However, Asia-Pacific is expected to register highest CAGR of 9.5% from 2021 to 2030, owing to increase in geriatric population and rise in demand for immunity booster products.