CHICAGO, October 23, 2018
CHICAGO, October 23, 2018 /PRNewswire/ --
According to the new market research report "Empty Capsules Market by Type ((Gelatin - Porcine, Bovine, Bone Meal), (HPMC, Pullulan)), Functionality (Sustained-release, Delayed-release), Application (Antibiotics, Vitamins, Antacids), End User (Pharma, Nutraceuticals, Cosmetics) - Forecast to 2023", published by MarketsandMarkets™, the Empty Capsules Market is projected to reach USD 2.79 billion by 2023 from an estimated USD 1.95 billion in 2018, at a CAGR of 7.4%.
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The major factors driving the growth of this market include the growing adoption of capsule formulations among the growing geriatric population, growth of the pharmaceutical market along with the increasing R&D activities & clinical trials, and advancements in capsule delivery technologies.
By Type, Gelatin Capsules to Account for the Largest Market Share in 2018
On the basis of type, the gelatin capsules segment is expected to account for the largest share of the global Empty Capsules Market in 2018. The various advantages associated with gelatin capsules, such as rapid drug release, uniform mixing of drugs, and a barrier to atmospheric oxygen (preventing oxidation of drug molecules), make them a preferred choice for manufacturing capsule shells.
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Immediate-release Capsules Segment to Dominate the Empty Capsules Market, by Functionality, in 2018
Based on functionality, the Empty Capsules Market is segmented into immediate-release, sustained-release, and delayed-release capsules. In 2018, the immediate-release capsules segment is estimated to account for the largest market share. This is because immediate-release capsules are widely used for the manufacture of antibiotics, antibacterials, antacids, painkillers, inhalators, cold and cough drug preparations, and dietary supplements. Also, immediate-release capsules are the most commonly prescribed capsules to treat a wide range of diseases and disorders.
Antibiotic & Antibacterial Drugs to Account for the Largest Share of the Empty Capsules Market, by Application, in 2018
On the basis of application, the Empty Capsules Market is segmented into antibiotic & antibacterial drugs, dietary supplements, antacid & antiflatulent preparations, antianemic preparations (hematinic), anti-inflammatory drugs, cardiovascular therapy drugs, cough & cold drugs, and other applications. The antibiotic & antibacterial drugs segment is estimated to account for the largest market share in 2018. The large share of this segment can be attributed to the fact that antibiotic & antibacterial drugs are the most frequently prescribed drugs for the treatment of various diseases and disorders.
By End User, the Pharmaceutical Industry Segment Accounts for the Largest Market Share in 2018
Based on end user, the Empty Capsules Market is segmented into the pharmaceutical industry, nutraceutical industry, cosmetic industry, and research laboratories. In 2018, the pharmaceutical industry segment is estimated to account for the largest share of the Empty Capsules Market. The increasing number of drugs launched as capsule formulations, growing prevalence of diseases for which capsule-based formulations form the primary treatment, and the rising demand for innovative drug delivery formulations are the key factors driving the growth of this segment.
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North America to Dominate the Empty Capsules Market in 2018; This Trend to Continue During the Forecast Period
North America is expected to account for the largest share of the Empty Capsules Market in 2018, followed by Europe and the Asia Pacific. The large share of North America can be attributed to the presence of major capsule manufacturers along with the presence of a number of pharmaceutical giants with large production capacities and the growing emphasis on superior pharmaceutical products and generics.
The prominent players in the global Empty Capsules Market are Capsugel (US), ACG Worldwide (India), Qualicaps (Japan), Suheung Co. Ltd. (South Korea), CapsCanada Corporation (Canada), Qingdao Yiqing Medicinal Capsules Co., Ltd. (China), Shanxi Guangsheng Medicinal Capsules Co., Ltd (China), Healthcaps India Ltd. (India), Snail Pharma Industry Co. Ltd. (China), Roxlor (US), Sunil Healthcare Ltd. (India), Medi-Caps Ltd. (India), Nectar Lifesciences Ltd. (India), Natural Capsules Ltd. (India), and Bright Pharma Caps Inc. (US).
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