Market Overview:
Empty capsules are two-piece capsules used for encapsulating active pharmaceutical ingredients (APIs). They find wide applications in product development, clinical research, and pharmaceutical production.
Market Dynamics:
The empty capsules market is expected to showcase significant growth owing to increasing adoption in the pharmaceutical industry. Empty capsules offer numerous benefits over other dosage forms as they allow easy swallowing of medicines and protect bitter tasting active ingredients from contact with taste buds. Additionally, growing generics market has increased the demand for empty capsules from pharmaceutical companies aiming to provide affordable treatment options to patients. Another key factor augmenting market growth is rising prevalence of various chronic diseases such as diabetes, cardiovascular diseases and cancer. According to WHO, chronic diseases accounted for 70% of all deaths globally in 2020. This increasing disease burden has propelled the demand for capsule-based drug delivery systems.
Increasing Demand from Pharmaceutical Sector is Driving Growth in Empty Capsules Market
The pharmaceutical industry has been seeing steady growth over the past few decades. With new drug development continuing at a rapid pace, more and more medications are being introduced every year for various therapeutic applications. Empty capsules play a crucial role in the pharmaceutical manufacturing process, as they are used to encapsulate both solid and liquid drug formulations. The ease of swallowing capsules makes them a preferred dosage form for various drugs. With increasing healthcare spending and demand for new medicines, pharmaceutical companies are expanding their production volumes significantly. This is directly translating to higher demand for empty capsules from this end-user industry. Various market reports have indicated empty capsule consumption in the pharmaceutical sector is growing at over 5% annually. This rising need from such a large and important market segment is expected to remain a key growth driver for empty capsules over the coming years.
Stringent Regulatory Environment Posses Challenges for Empty Capsules Manufacturers
The empty capsules industry operates in a highly regulated environment due to its application in pharmaceutical drug development and production. Manufacturers have to adhere to strict Good Manufacturing Practices (GMP) and obtain approvals from regulatory bodies like the FDA and EMA. This requires significant investments in production infrastructure, quality control systems and personnel training. Maintaining compliance with numerous regulations across different markets also increases operational costs. Any lapses can draw severe penalties and business disruptions. The regulatory standards are also constantly evolving to ensure patient safety. This requires empty capsule producers to regularly upgrade their facilities and manufacturing processes. Smaller players often find it challenging to cope with the scale of investments necessitated. Stringent regulations thus act as a key restrain on new industry entrants and consolidation of the market. They also impact the profit margins and growth plans of existing manufacturers to a certain extent.
Advent of New Technologies and Materials Present Opportunities
While traditional gelatin and HPMC capsules still dominate the market, new technologies and innovative materials are gaining ground which can potentially present major opportunities. 3D printing is emerging as a promising technology that allows for customized capsule design, sizes, shapes and formulations. It provides enhanced flexibility for niche applications. Plant-derived capsules made from pullulan and other polysaccharides are gaining traction owing to their vegan appeal. Furthermore, advances in micro-encapsulation now enable even poorly soluble drugs and highly potent compounds to be packaged into capsules. This expansion of encapsulation abilities with new techniques is expanding the utilization of capsules in newer drug formats and delivery systems. Moreover, alternative formulations like orally disintegrating capsules and extended release capsules using specialized polymers also open up untapped demand potential. Overall, disruptive technologies along with evolving consumer preferences for sustainable materials are expected to create lucrative prospects in the coming years.
Growing Impact of Nutraceutical Industry Trends on Demand Dynamics
The ongoing nutraceutical industry boom is increasingly influencing the empty capsules market place trends. Nutraceuticals refer to products that provide medicinal benefits along with basic nutrition, positioned at the intersection of the food and drug categories. Areas like herbal supplements, vitamins, probiotics and other functional ingredients targeted at diet, fitness and wellbeing have seen extraordinary growth world over. Capsule is established as one of the most preferred dosage forms for delivery of various nutraceutical active substances due to its properties. This has resulted in empty capsules carving a notable space within the fast-expanding nutraceutical manufacturing industry. Many major nutraceutical companies have also vertically integrated capsule manufacturing capabilities. Market reports point to nutraceutical capsule consumption outpacing even pharmaceutical demand in percentage terms. As consumers continue showing higher preference for preventive healthcare through such daily-use products, the nutraceutical empty capsule niche is poised for sustained momentum going forward.
[206 Pages Report] MarketsandMarkets forecasts the Empty Capsules market to grow from USD 1.95 billion in 2018 to USD 2.79 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 7.4% during the forecast period.
A softgel consists of a gelatin-based shell surrounding a liquid or semi-solid (inner fill) drug or extract in the center.
Softgel capsules offer several benefits to consumers such as convenience, enhanced efficacy, and bioavailability.
Enteric softgel capsules are expected to exhibit significant market growth during the forecast period, owing to rise in adoption of enteric softgel, surge in demand for omega-3 supplements, growth in promotional activities by manufacturers, and rise in consumer awareness for preventative healthcare.
The global softgel capsules market is estimated to grow at a CAGR of approximately 5% during the forecast period to reach approximately USD 2.5 billion by 2025.Market Dynamics1.
Over the years, capsule delivery has witnessed a number of technological advancements in terms of product enhancements for better quality outcomes and patient comfort.
According to the new market research report “Empty Capsules Market by Type (Gelatin (Porcine, Bovine), Non gelatin (HPMC, Pullulan)), Functionality (Delayed release), Application (Antibiotics, Dietary Supplements, Anti- Inflammatory), End User (Pharma, Nutraceuticals) – Global Forecast to 2026″, published by MarketsandMarkets™, the global market is projected to reach USD 3.7 billion by 2026 from USD 2.6 billion in 2021, at a CAGR of 7.2% during the forecast period.Browse and in-depth TOC on “Empty Capsules Market”176 – Tables40 – Figures216 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=218018190The overall 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 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.
Other areas of opportunity are the development of halal gelatin and vegetarian capsules.Gelatin accounted for the largest share of Empty Capsules MarketBased on type, the market is categorized into gelatin capsules and non-gelatin capsules.
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.Immediate-release capsules accounted for the largest share of Empty Capsules MarketBased on functionality, the market has been segmented into immediate-release, sustained-release, and delayed-release capsules.
This is because immediate-release capsules are widely used to manufacture antibiotics, antibacterial, antacids, painkillers, inhalators, cold and cough drug preparations, and dietary supplements.Antibiotic & antibacterial drugs accounted for the largest share of marketBased on therapeutic applications, the 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.
The antibiotic & antibacterial drugs segment accounted for the largest share of 33.1% of the Empty Capsules Market in 2020.The dietary supplements segment is expected to witness the highest CAGR of 8.2% during the forecast period.
