Major Growth Boosters :
The major factors that are expected to be driving the empty capsules market are the growing adoption of capsule formulations among the growing geriatric population, the growth of the pharmaceutical market with the increasing R&D activities & clinical trial studies, and the advancements in capsule delivery technologies. The objective of the report is to define, describe, and forecast the empty capsules market size based on type, functionality, application, end user, and region.
What This Report Will Provide ?
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.
Expected Revenue Growth:
[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 (OTC:CAGR) of 7.4% during the forecast period.
Recent Developments :
- In July 2018, Lonza’s Capsule Delivery Solutions launched the Capsugel Vcaps Gen C capsule based on the carrageenan gelling-agent formulation, expanding Lonza’s Capsugel Hydroxypropyl Methyl Cellulose (HPMC) portfolio.
- In February 2018, ACG signed a memorandum of understanding (MOU) with Applied DNA, Inc. (US) that will allow ACG to utilize Applied DNA’s proven SigNature molecular tagging and authentication technologies to develop molecularly tagged empty hard-shell capsules.
- In February 2018, CapsCanada Corporation (Canada) invested USD 28 million in a state-of-the-art manufacturing facility for the production of hydroxypropyl methylcellulose (HPMC) capsules. With this investment, the company expanded its capsule output by 50% to meet the rising global demand for K-CAPS.
Advancement in capsule delivery technologies :
Traditionally, capsules were made from gelatin for manufacturing solid dosage forms for the pharmaceutical industry. Technological advancements have provided the empty capsules industry with a growing range of functionality options for capsules-based formulations used by patients. Over the years, capsule delivery has witnessed a number of technological advancements in terms of product enhancements for better quality outcomes and patient comfort.
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Rising prices and lower availability of raw materials in the gelatin industry
Globally, the demand for gelatin and its raw materials has witnessed a significant increase over the entire application spectrum—the pharmaceutical industry, in which the demand for capsules for pharmaceutical production has registered a vast increase, and the food processing, nutraceuticals, leather, cosmetics, dying & tanning, and paper production industries. All of these also utilize gelatin and raw materials used for its production on a large scale. The use of gelatin in the food preparations has increased six-fold in the last decade.
Regional Growth Analysis:
North America is expected to hold the largest market size in the empty capsules market during the forecast period, followed by the European region. The highest market share of North America 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.
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