Empty capsules market is anticipated to witness at significant growth through to 2022 owing to increasing technological advancements and innovations, and increasing median age of the global population. Furthermore, increasing demand for healthcare services in the market, increasing demand for vegetarian and hard gelatin capsules in the nutraceutical and pharmaceutical industry, easily accessible healthcare services, ageing demographics to drive demand for capsule based drug formulations and halal nature of gelatin capsule which offers comparative advantage in the Islamic population are also expected to fuel market demand for empty capsules throughout the forecast period. Growing trend for contract manufacturing in the pharmaceutical industry, increasing investment in biotechnology and bio-pharmaceutical development, and rising healthcare spending are expected to drive demand for solid lipid pellet and capsule-in-capsule segments through to 2022.
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Geographical analysis of the empty capsule market divides it into North America, Europe, Asia Pacific and Latin America and MEA. North America accounted for the largest share of the market in term of revenue in 2014. This major factors contributing for this large share are growing number of medicine users and presence of a technologically advanced healthcare infrastructure in the region. Emerging economies like India, China, and Australia in the Asia Pacific market are expected to be the fastest growing segments in the foreseeable future with growing demand for hard gelatin and non gelatin capsules owing to increasing corporate and government funding in the pharmaceutical industry, presence of highly skilled labors, and increasing awareness about the healthcare and personal care services.
The global empty capsule market is highly competitive owing to emergence of new entrants in the market and the presence of well established firms. The major players in the empty capsules market include Snail Pharma, Capsugel, Suheung Company Ltd., CapsCanada Corporation, Roxlor LLC, Medi-Caps Ltd., Bright Pharma Caps Inc., Qualicaps, Inc., and ACG Worldwide.
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