New York City, NY, 10 January, 2020/ 24 Market Reports: It is estimated for the global empty capsules market to reach USD 2.77 billion by 2023 from that of USD 1.99 billion in 2018 witnessing the growth at a CAGR of 7.7% during the forecast period of 2018 to 2023. 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 are the factors that are driving the growth of the market during the forecast period.
Non-gelatin capsules segment to witness the fastest growth in the market during the forecast period
During the forecast period, it is estimated for the non-gelatin capsules segment, by type of capsules segment, to witness faster growth in the market. Low hygroscopicity, physical stability, stability in different ranges of temperature & humidity and low moisture content are the advantages offered by the non-gelatin capsules over gelatin-based ones and also the rising demand for non-animal-based products are the factors that are driving the growth of the segment during the forecast period.
Immediate-release capsules segment to grow at a faster rate in the market throughout the forecast period
As the immediate-release capsules are widely used in the manufacturing of antibiotics, antibacterials, antacids, painkillers, inhalators, cold and cough drug preparations and dietary supplements it is projected for the segment to witness the growth at a faster rate during the forecast period. Also, in the treatment of a wide range of diseases and disorders, immediate-release capsules are the most commonly prescribed capsules.
Increasing prevalence of lifestyle diseases is driving the growth for the dietary segment in the market
During the forecast period, it is estimated for the dietary segment to witness the growth at the fastest rate. Increased health awareness and rising affordability in emerging countries (such as India, China, and Brazil), increasing prevalence of lifestyle diseases and increasing use of vitamin capsules due to their availability as over-the-counter (OTC) drugs are the factors that are driving the growth of the market during the forecast period.
North America to dominate the global market for empty capsules throughout the forecast period
Followed by Europe, North America is estimated to hold the largest share in the global empty capsules market. Presence of major manufacturers in the region coupled with the majority of the manufacturing giants holds large production capacities is the factor driving the growth of the market in the region. The market is also witnessing the rise due to the growing emphasis on superior pharmaceutical products and generics. APAC region is estimated to witness the growth at the fastest rate as the region is witnessing significant growth in the pharmaceutical industry during the forecast period. Pharmaceutical manufacturing capabilities and the large patient pool are the factors that are driving the growth of the market in the region.
Rise in the demand for vegan capsules to hinder the growth of the market during the forecast period
The demand for vegan capsules is been witnessing the rise in demand in recent years and as the gelatin capsules are been manufactured from the by-products of slaughtered animals including the bones, hides, and hooves of cattle, pigs, horses, fish and poultry the individuals, with dietary restrictions or religious practices condemn the consumption of these capsules thus restricting the growth of the market.
The following are the major objectives of the study:
- To define, describe, and forecast the global empty capsules market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global empty capsules market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for global empty capsules market and their future potential during next decade?
- How competitive landscape is evolving in global empty capsules market?
