Encapsulation is a crucial manufacturing process for pharmaceuticals. It allows the determination the dosage form and stability of the medicines for easy use. The shell used the medications is known as capsule, which is available in both hard-shell and soft-shell capsules. Growth in the demand from pharmaceutical industry is the primary driver for the empty capsules market. This market is expected to witness steady growth in the next few years. The growth for the market is primarily driven by growth in the number of medicine users and advancing technologies. Healthcare awareness and reforms are also expected to create vital traction in this market during the next few years to come.
Trends and Forecasts for the Empty Capsules Industry
In order to understand the basic growth trends in this market, researchers segment the empty capsules market on the basis of the types of products, raw materials, their therapeutic applications and end-user segments. Apart from that, researchers also segment this market on the basis of the major geographic regions in the market. As explained before, the basic types of products in this market are categorized into hard gelatin capsules and nongelatin based capsules. Basic types of raw materials used in this market are categorized into bovine-hide gelatin, pig-skin gelatin, pullulan and starch materials, Hydroxypropyl Methyl Cellulose (HPMC) Gelatin, bone-derived gelatin and so on.
Based on the types of therapeutic applications, researchers segment the empty capsules market into vitamins and dietary supplements, antibacterial drug formulations, cardiovascular therapy drugs, antianemic preparations, cough and cold preparations, antacid and antiflatulent preparations, anti-inflammatory drugs, and so on. Major end-users in the market are categorized into cosmetic, nutraceutical and pharmaceutical industries along with research laboratories. Analysis of all the segments in this market provides details about the growth trends, drivers, restraints and business forecasts for the leading players in the industry.
According to the experts, the global empty capsules market is steadily driven by rising number of aging population around the world. This rise is leading way for capsule based drug formulations, which is driving the market growth. Apart from that, strong growth of the nutraceutical industry and increasing applications of the pharmaceutical industry are also expected to drive this market. Technological advancements in the market are also expected to help this market grow at a healthy CAGR. Major restraints for the market include various religious and cultural specifications and rising prices of gelatin. However, strong demand from the developing countries is also expected to create growth opportunities for the market.
As per the latest research reports, he empty capsules market is expected to grow at a CAGR of around 7% from 2014 to reach past $1,820 Million by the end of the year 2019. North America region is expected to hold the largest share in this market, during the forecasting period.