Global Empty Capsules Market Overview
Empty capsules are used to fill single or combination of medicinal ingredients in order to minimize the deficiency. These capsules are made of organic materials which are easy to digest. The demand for capsule is growing across the globe owing to ease of availability and easy to consume capsules in the market and growing consumer preferences of capsules over tablets. Rise in aging population and growing prevalence of chronic diseases among elderly population are increasing the prescription so as to maintain hath and fitness. Many effective capsules are introduced in the market to minimize the burden of diseases.
Market size and forecast
The global empty capsules market is predicted to expand significantly at a CAGR of 7.4% over the forecast period i.e. 2016-2023. However, the market of empty capsules is expected to reach USD 2.45 Billion by 2023 from USD 1.42 Billion in 2015. The demand for gelatin capsules is expected to flourish over the forecast period i.e. 2016-2023 owing to cost-effectiveness of gelatin capsules. The gelatin capsules segment accounted for the highest revenue of USD 1.13 Billion in 2015.
North America accounted for the largest market share of 43% in 2015 of empty capsules market globally. The market of North America region is expected to continue its dominance over the forecast period i.e. 2016-2023 due to rising pharmaceutical industry in the region. Europe is expected to be the second largest share contributor across the globe in the market of empty capsules by 2023. The market of Europe region accounted for USD 284.1 Million in 2015.
Population across the globe is mounting consumption of capsules due to rise in preferences of capsules over tablets and syrups owing to absence of odor and bitterness, which makes it easy to swallow. Capsules made of gelatin products have several advantages such as softness, improved stability at numerous temperature ranges and tastelessness further grows importance among the population with the purpose of cure and to overcome the deficiency. Apart from this, significant growth in pharmaceutical industry to develop effective and convenient capsules for the consumers is likely to gain traction towards capsules.
Research report categorizes the empty capsules market into the following segments:
Demand Analysis By Product Type
By Therapeutic Application
By Capsules Size
Global Empty Capsules Market is further classified on the basis of region as follows:
Growth Drivers and challenges
Rise in geriatric population coupled with higher risk of diseases, chronic diseases down to congested cities and swelling applications in pharmaceutical industries are some of the major driving factors are expected to drive the growth of empty capsules market over the forecast period i.e. 2016-2023.
Ease availability of capsules and presence of low cost capsules in the market is expected to increase the demand for capsules which will further upsurge the demand for empty capsules across the globe.
Rising concern towards health and hygiene, growing awareness towards fitness and cost effective cure, increase in gross disposable income of population across the globe, wide-scale applications of empty capsules in pharmaceuticals, nutraceuticals and cosmoceuticals industries are some of the key factors expected to propel the growth of empty capsules market. Apart from this, capsules are observed as convenient way for medication and consume health supplements to minimize the deficiency, expected to spur the demand for empty capsules substantially during the forecast period i.e.2016-2023.
However, introduction of constricted regulatory guidelines from the national and international regulatory authorities, dearth of advanced medicinal facilities in under-developed nations, are some of the factors affecting the growth of empty capsules market globally. Moreover, high initial investment, prerequisite research and development and lack of skilled healthcare professionals are some of the factors curbing the market of empty capsules across the globe.
The key players of empty capsules market are as follows:
Scope and Context
Overview of the Parent Market
The Global Empty Capsules Market is segmented as follows:
Supply and Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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