Empty Capsules in Pharmaceuticals: Market Developments
Empty capsules play a crucial role in the pharmaceutical and nutraceutical industries as they are used to encapsulate various active ingredients, drugs, and dietary supplements. These capsules are available in two main types: gelatin-based capsules and vegetarian (or vegan) capsules made from alternatives like hydroxypropyl methylcellulose (HPMC) or pullulan.
Market Growth Prospect
Empty Capsules Market in terms of revenue was estimated to be worth $3.2 billion in 2023 and is poised to reach $4.9 billion by 2028, growing at a CAGR of 9.3% from 2023 to 2028 according to a new report by MarketsandMarkets™
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Here are some key market developments related to empty capsules in the pharmaceutical industry:
Growing Demand for Plant-Based Capsules: There has been an increasing trend towards vegetarian and vegan capsules due to the rising consumer awareness of ethical and religious dietary preferences.
Advancements in Capsule Manufacturing Technology: Manufacturers have been focusing on improving capsule production processes to enhance quality, consistency, and efficiency.
Expanding Pharmaceutical and Nutraceutical Industries: The pharmaceutical and nutraceutical markets have continued to grow globally, driven by factors such as an aging population, increasing healthcare awareness, and a growing interest in preventive healthcare measures.
Customization and Personalization: As the pharmaceutical industry shifts towards personalized medicine, there has been a trend towards more customized dosage forms, including tailored formulations within capsules.
Stringent Quality and Safety Regulations: Regulatory bodies, such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), have been enforcing strict quality standards for empty capsules.
Market Consolidation and Competition: The empty capsules market has witnessed consolidation, with key players acquiring smaller manufacturers or forming strategic partnerships to expand their product portfolios and global reach.
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Asia Pacific is likely to grow at double digit growth rate during the forecast period.
The Asia Pacific region is estimated to grow at the highest CAGR in the empty capsules market during the forecast period, this is mainly due to the growth in Asian pharmaceutical markets and their manufacturing capacities. Moreover, fast growing R&D infrastructure alongwith large number of scientific talent in the countries of this region is likely to boost the market.
Capsugel (US) and ACG Worldwide (India) are Leading Players in the Empty Capsules Market
The prominent players operating in the empty capsules market are Capsugel (US), ACG Worldwide (India), Qualicaps (US), CapsCanada Corporation (Canada), Suheung Co. Ltd. (Korea), and Natural Capsules (India).
Capsugel (US)
Capsugel (US) is one of the leading players in the empty capsules market. The company’s leading position is attributable to its diversified product portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies. The company has focused on new product launches, to maintain its leading position in the empty capsules market.
ACG Worldwide (India)
ACG Worldwide is one of the leading players in the empty capsules market. It offers specialty empty hard capsules. The company has a wide geographical footprint and is further expanding its network across the globe. The company has focused on launches of new products in various sizes & customization options to increase the share in empty capsules market.
Recent Developments:
- In 2023, Thermo Fisher Scientific (US) acquired The Binding Site Group to expands the company’s existing specialty diagnostics portfolio with the addition of pioneering innovation in diagnostics and
- Microbiologics Inc. (US) acquired the Cryologics (US) to extend the company’s capacity to serve quality control microbiologists dedicated to the safety of pharmaceutical and personal care products.
- LGC SeraCare expanded its line of SARS-CoV-2 molecular quality solutions to include AccuPlex SARS-CoV-2 Variant Panel 1.
- Roche entered a 15-year non-exclusive partnership with Illumina to broaden the adoption of NGS-based testing in oncology.
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