Market Research Report
Global Empty Capsules Market - 2019-2026
|Published by||DataM Intelligence||Product code||909699|
Delivery time: 1-2 business days
|Global Empty Capsules Market - 2019-2026|
|Published: December 1, 2019||Content info:||
Empty Capsules Market Overview
A capsule is the encapsulation of dosage forms, in a relatively stable shell, allowing them to be taken orally or be used as suppositories. Empty capsules are the most common option to store herbs, powders and medicines. Mainly there are two types of capsules - Hard-shelled capsules, containing dry, powdered ingredients and miniature pellets which are made through extrusion or spheronization. The global empty capsules market size was worth $ XX billion in 2018 and is forecasted to reach $ XX billion by 2026, at a CAGR of XX% during the forecast period (2019-2026).
Empty Capsules Market Dynamics
The global empty capsules market is growing due to several factors such as, growing geriatric population, increasing incidence of chronic diseases, and advancement in product by manufacturers.
The increased prevalence of geriatric population associated with chronic conditions imposes a high demand to produce medicines to treat chronic health conditions. The geriatric population mostly prefers capsules in the solid dosage forms as they are easy to swallow, they have faster dissolution times, and the decreased gastrointestinal irritation caused by capsules. In 2017, the number of Americans ages 65 and older was around 46 million, and it is expected to be 98 million by 2060. The 65-and-older age group's share of the total population is expected to rise by 24% in 2060 from 15% in 2017. The aging population is projected to grow at a faster pace in Central America with an increase of over 50% in the population aged 60 years or above. The aging population in other regions will grow over the upcoming years at a rate of 56% in Asia, 52% in Africa, 35% in Oceania, 29% in North America, and 14% in Europe. By 2020, older persons are anticipated to account for more than 20% of the populations in Europe and in North America, 15% in Oceania, 12% in Asia and Central America, and 4% in Africa. Hence, growing geriatric population is one of the major factors driving the growth of the empty capsules market globally.
However, rising prices of gelatin and stringent regulations in pharmaceutical industry are hampering the growth of the empty capsules market. Increasing demand for leather and the shortage of animal bone and pigskin have led to the closure of some factories that were unable to obtain enough raw material, hence leads to slow in the rate of supply. As gelatin is produced mostly as the by-product from the leather and meat industries, and is derived from collagen, a protein manufactured from bones and pig skins. The prices have increased recently, as there is concern that the higher feed prices seen due to the recent drought in the US and Russia may be leading to a fall in the number of the animals, from which gelatin is produced.
Empty Capsules Market Segment Analysis
By product type, the global empty capsules market is segmented into gelatin capsules, and non-gelatin capsules. Among these, gelatin capsules accounted for the largest market share in 2018. Gelatin is widely used in the empty capsules market due to its softness, lack of a notable odor or taste, and stability across a wide temperature range. However, growing opposition to animal-derived gelatin in economically crucial markets such as India, where vegetarianism is the norm, is likely to lead to significant product development in the global empty capsules market in the coming years. The high volume of unmet demand in India, where most of the population lacks access to the latest healthcare solutions, thus carries great significance for the global empty capsules market. In addition, the increasing launch of new products and strategic alliance between companies to develop gelatin capsules, are also driving the growth of the gelatin capsules market. For instance, in July 2017, Glenmark have partnered with Spanish firm Cyndea Pharma to develop complex drugs for US and Canada markets. Due to the partnership Glenmark will develop soft-gelatin capsule products under the technology license from the Spanish drug maker.
In November 2016, Allergan have introduced Taytulla, an estrogen/progestin combination oral contraceptive, in a 1-mg/20-mg capsule form. It is the first and only oral contraceptive on the market that comes in a soft gel capsule form.
On the other hand, the non-gelatin capsules segment is estimated to grow at the highest CAGR during the forecast period (2019-2026), due to growing demand for non-animal-based products and the benefits offered by these capsules over gelatin-based ones, such as physical stability, low hygroscopicity, stability in different ranges of temperature & humidity, and low moisture content.
Based on applications, the empty capsules market is segmented into anti-inflammatory drugs, antibiotic & antibacterial drugs, antacid & antiflatulent preparations, vitamins & dietary supplements, antianemic preparations (hematinic), cardiovascular therapy drugs, and others. Among these, the vitamins & dietary supplements segment is expected to grow at the highest CAGR during the forecast period 2019-2026, owing to rising health awareness and increasing affordability in emerging countries (such as China, India, and Brazil), growing prevalence of chronic diseases, and increasing use of vitamin capsules due to their availability as over-the-counter (OTC) drugs.
Empty Capsules Market Geographical Analysis
North America holds the dominant market share for empty capsules in 2018, and it is expected to maintain the growth over the forecast period, due to the factors, such as the increasing number of ongoing research activities, the growing preference for capsule-based nutraceutical formulations, and increasing approvals to sell the product in this region. The demand for empty capsules is increasing in nutraceutical industry due to rising major health problems, such as obesity, cancer, and arthritis in this region.
For instance, in December 2018, Aurora Cannabis Inc. received a sales license from Health Canada permitting the sale of cannabis softgel capsules, the Company has commenced shipments for both the Canadian medical and adult-use markets. Aurora is planning to commence exports to international markets in early 2019.
In February 2018, CapsCanada, a leading provider of capsules for pharmaceutical drugs and dietary supplements, have introduced a new, state-of-the-art, dedicated hydroxypropyl methylcellulose (HPMC) capsule manufacturing facility. With this investment, CapsCanada has now increased capsule output by 50%.
Empty Capsules Market Competitive Landscape
The Empty Capsules market is highly competitive with presence of large number of players. Some of the major players in the global Empty Capsules market are: Capscanada Corporation, ACG Group, Snail Pharma Industry Co. Ltd, Bright Pharmacaps Inc., Capsugel, Medi-Caps Ltd, Qualicaps, Roxlor LLC, Suheung Co. Ltd, and Sunil Healthcare Limited, among others.
The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the Empty Capsules market globally. For instance,
In May 2019, Lonza launched Capsugel® Zephyr™, its new dry-powder inhalation (DPI) capsule portfolio, the most complete portfolio of DPI capsules to meet the growing need for customized solutions for optimal pulmonary drug delivery.
In June 2018, Lonza's Capsule Delivery Solutions, have introduced Capsugel Vcaps Gen C, a high-quality capsule based on a carrageenan gelling-agent formulation. This new entry expands the Lonza Capsugel Hydroxypropyl Methyl Cellulose (HPMC) portfolio.
In May 2018, ACG showcased a wide range of capsules, engineering, and films and foils solutions at the FCE Pharma. ACG's Capsules business includes a wide range of Empty Hard Capsules made with Gelatin and HPMC (cellulose), developed to meet the requirements of pharmaceutical industry.
In August 2018, Capsule Delivery Solutions, part of Lonza Pharma & Biotech, have introduced the Capsugel Colorista product, a high-quality capsule based on an "all-colorants" formulation.
In October 2017, Suheung America Corporation has introduced the new EMBO CAPS VG-ALPHA drug delivery system, an empty vegetarian capsule targeted for use in the pharmaceutical market. The EMBO CAPS VG Alpha is manufactured from Hypromellose (HPMC) using a revolutionary proprietary process resulting in an extremely high strength and crystal-clear film, which allows the HPMC capsule to mimic the filling performance of gelatin.