San Francisco, 25 February, Empty
Capsules Market Analysis By Product (Gelatin, Non-Gelatin Capsules), By
Therapeutic Application (Antibiotic & Antibacterial Drugs, Vitamin &
Dietary Supplements, Antacids & Anti-flatulent Preparations, Anti-anemic
Preparations, Anti-Inflammatory & Anti-rheumatic Drugs, Cardiac Therapy
Drugs, Cough & Cold Preparations), By End-user(Pharmaceutical,
Nutraceutical, Cosmetics Industries, Research laboratories) And Segment
Forecasts To 2024.
The global empty capsules market is expected to reach USD
2.57 billion by 2024, according to a new report by Grand View Research, Inc.
Key factors responsible for the growth are the increase in the geriatric
population, proliferation of pharmaceutical, nutraceutical, and cosmeceutical
industries, globally and the upsurge in the consumer preferences for capsules
over tablets.
The rising geriatric population
count and the associated chronic conditions are expected to heighten the demand
for the production of capsule-centric medications in the pharmaceutical and
nutraceutical application areas. Moreover, the benefits associated with capsule
consumption, such as ease of swallowing, faster absorption rates, and increased
palatability are also expected to contribute significantly to the expansion of
the market over the forecast period.
The mushrooming of the
pharmaceutical, nutraceutical, and cosmeceutical industries is expected to
serve as a high impact rendering driver for the empty capsules market over the
forecast period.
The nutraceuticals aid in the
prevention of certain chronic conditions and hence the consumption of these
products has significantly increased over the past few years. For instance,
nutraceuticals, such as omega-3 fatty acids, help in the prevention of cardiovascular
conditions and the heightened accessibility to these low-cost vitamin
supplements has reduced the incidences of vitamin deficiencies.
In 2015, the gelatin capsules
segment accounted for the highest revenue of nearly USD 1,172.3 million. This high
revenue share is attributed to the following factors: sufficient availability
of gelatin for the production process and the cost-effectiveness of gelatin
capsules as compared to non-gelatin capsules, such as Hydroxypropyl
methylcellulose (HPMC) capsules and pullulan or starch material capsules.
However, the non-gelatin
capsules segment is expected to emerge as the fastest growing category with a
CAGR of 6.9% from 2016 to 2024. With the source of the non-gelatin capsules
being vegetarian, the religious and cultural issues experienced in connection
with capsules containing animal-derived inactive ingredients can be evaded;
this factor is estimated to be primarily responsible for the large consumer
base of this market over the forecast period.
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Report On Empty Capsules Market Analysis:
Further key findings from the study suggest:
·
In 2015, the antibiotic and
antibacterial drugs segment generated the largest revenue of USD 453.7 million
owing to the surge in prevalence of a range of infectious diseases and chronic
conditions worldwide. The vitamins and dietary supplements category is expected
to exhibit the fastest growth rate of 7.8% over the forecast period.
·
Global efforts to reduce
malnutrition and vitamin deficiencies by various social welfare organizations
and government agencies are expected to boost the usage rates over the forecast
period.
·
In 2015, North America
dominated the empty capsules market with a revenue share of over 39.6% due to
the high disease burden, the access to the latest drugs in this region, and the
high consumption rate of nutraceutical and cosmeceutical products in this
region. Increase in the geriatric population susceptible to varied conditions
and disorders coupled with the burgeoning of various bacterial and viral
infections is expected to improve the market penetration of various
antibiotics, multivitamin supplements, and other drugs.
·
The Asia Pacific region is
estimated to grow with the highest CAGR of 7.9% over the forecast period. The
increase in healthcare expenditure and the rise in per-capita disposable
incomes are expected to improve the overall access to healthcare facilities and
medicines across several developing countries in this region. Moreover, the
upsurge in the prevalence of infectious diseases and chronic conditions in this
region are also expected to positively reinforce the market growth over the
forecast period.
·
The market dynamics indicate
the presence of strong competition amongst the key players, such as Capsugel,
Inc., ACG Associated capsules Pvt. Ltd., JC Biological Technology Co. Ltd,
CapsCanada Corporation, Medicaps Ltd., Qualicaps, Inc. (Mitsubishi Chemical
Holdings Corporation), Patheon, Inc. (Banner Pharmacaps, Inc.), Roxlor LLC,
Sunil Healthcare Ltd.(Sunloc Healthcare, Inc.), and Nectar Lifesciences Ltd.
·
Furthermore, the increase in
the demand for generic drugs and contract manufacturing services is expected to
open up new avenues for the market growth over the forecast period.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/pharmaceuticals
Grand View Research has segmented the empty
capsules market by product, therapeutic application, end user and region:
Global empty capsules
market, by product (USD Million, 2013 - 2024)
·
Gelatin Capsules
·
Non-Gelatin capsules
Global empty capsules market by
therapeutic application (USD Million, 2013 - 2024)
·
Antibiotic and antibacterial
drugs
·
Vitamin and dietary supplements
·
Antacids and antiflatulent
preparations,
·
Antianemic preparations,
·
Anti-inflammatory and
anti-rheumatic drugs,
·
Cardiac therapy drugs,
·
Cough and cold preparations
Global empty capsules market by
end-user (USD Million, 2013 - 2024)
·
Pharmaceutical industries
·
Nutraceutical industries
·
Cosmeceutical industries
·
Research laboratories
Empty capsules market, by
region (USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
MEA
o
South Africa
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Press Release of this Report:
www.grandviewresearch.com/press-release/global-empty-capsules-market
www.grandviewresearch.com/press-release/global-empty-capsules-market
About Grand
View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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