The global advanced empty capsules market is anticipated to generate revenues of USD 905.6 million in 2023. Demand for advanced empty capsules is projected to develop at a CAGR of 7.4% and reach USD 1,856.1 million by 2033. The market is experiencing significant growth due to several market-specific factors:
Aging Populations and Chronic Diseases: The rising elderly population globally and the surging prevalence of chronic diseases are key drivers for the pharmaceutical sector. As a result, the demand for advanced empty capsules, which provide efficient drug delivery solutions, is rising.
Development of Novel Therapies: Advanced empty capsules play a crucial role in supporting the development of novel therapies. Their efficient drug delivery mechanism enables the formulation of innovative medications, leading to improved treatment outcomes and driving market growth.
Technological Advancements: The market is witnessing rapid advancements in capsule manufacturing processes, materials, and coatings. These advancements enhance drug stability, bioavailability, and targeted delivery, making advanced empty capsules a preferred choice for pharmaceutical companies. The ability to deliver drugs effectively and precisely drives their adoption and market expansion.
Rising Demand for Nutraceuticals and Dietary Supplements: Consumer awareness about health and wellness drives the demand for nutraceuticals and dietary supplements. This increased demand for encapsulated supplements contributes to the growth of the advanced empty capsules market.
| Attribute | Details |
|---|---|
| Advanced Empty Capsule Market CAGR (2023 to 2033) | 7.4% |
| Advanced Empty Capsule Market Size (2023) | USD 905.6 million |
| Advanced Empty Capsule Market Size (2033) | USD 1,856.1 million |
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Technological advancements have significantly impacted the advanced empty capsules sector. Introducing new technologies, such as the fusion of capsule parts and seals, has transformed the traditional use of hard gelatin capsules.
In health and nutritional applications, lipid-based formulations have been adopted to enhance bioavailability and mask taste and odor. Additionally, novel technologies enable the efficient filling of liquids and semi-solids into empty capsules, benefiting pharmaceutical, cosmetic, and nutraceutical companies.
Leading players are launching innovative technologies like Licaps®, which seal liquid organic ingredients in hard gelatin capsules, optimizing disintegration for fast release. These advancements have expanded the market's potential, attracting various industries and driving growth in the advanced empty capsules sector.
Regulatory Compliance: Compliance with stringent regulatory standards and requirements in different regions poses challenges for manufacturers. Meeting regulatory guidelines for advanced empty capsules' safety, quality, and efficacy is complex and time-consuming.
Cost and Pricing Pressure: Price competition and cost pressures in the market impact profit margins for manufacturers. The presence of numerous players offering similar products led to price erosion and reduced profitability, especially in price-sensitive markets.
Patent Protection and Intellectual Property Issues: Developing advanced empty capsules involves intellectual property rights and patents. Protecting these rights and avoiding infringement is challenging, especially as new technologies and innovations emerge.
Manufacturing Complexities: Producing advanced empty capsules requires specialized manufacturing processes and equipment. Ensuring consistent quality, scalability, and efficient production, particularly for complex formulations or technical capsule designs, are demanding.
Principal Consultant
The market is projected to experience a steady rate of 11.3% CAGR during the period of 2018 to 2022, driven by the increasing demand for customized capsules and the rise in nutraceutical consumption.
Globally, there has been a significant increase in per capita healthcare spending, as evidenced by the World Health Organization's report stating that total healthcare spending in the United States reached USD 3.6 trillion in 2018, growing by 4.6% compared to the previous year.
Furthermore, there is a growing demand for vegetarian-based capsules in the nutraceutical and pharmaceutical industries. Manufacturers are opting for these capsules to avoid manufacturing issues associated with gelatin alternatives. As a result, the market for vegetarian-based capsules is expected to witness substantial growth in the forecast period.
The demand for halal-certified products is also on the rise, particularly in countries with significant Muslim populations. This demand is driving pharmaceutical manufacturers to produce Halal-certified products, presenting opportunities for growth.
Key pharmaceutical companies are expanding their geographical presence to tap into this demand. For instance, Qualicaps® Europe, S.A.U. expanded its presence in the South Asia region in February 2020.
According to a report by Future Market Insights (FMI), the market is expected to expand at a 7.4% CAGR between 2023 and 2033, indicating promising growth prospects for the industry.
Europe expanded significantly, with a share of 67.5% in 2022, and is predicted to remain one of the most attractive markets during the forecast period. Russia is expected to grow during the forecast period, with a CAGR of 7.3% in 2023 to 2033.
The high demand for vitamin supplements is expected to drive the market in Russia. Vitamins are more stable and effective with the help of capsules. Empty capsule manufacturers are developing new, customized offerings to fulfill the requirements of vitamin efficacy and safety.
Demand in the United Kingdom market is expected to rise at 5.1% CAGR over the forecast period. The United Kingdom has witnessed a high level of healthcare spending in Europe. Due to rising research activities, the presence of several key players is creating attractive opportunities for this market in the country.
The United Kingdom healthcare system is backed by well-developed infrastructure and is largely supported by the government creating a conducive environment for long-term growth.
As one of the leading pharmaceutical manufacturers in the world, Germany held a prominent share of 21% in 2022 in the European market. It is projected to capture over 25.8% market share by 2033. In this competitive landscape, innovation emerges as the crucial factor for success.
Manufacturers in Germany are actively focusing on technological advancements, striving to provide unique and versatile offerings for pharmaceutical, nutraceutical, and cosmeceutical applications. Leading companies in the German market are dedicated to developing innovative products that cater to these industries.
For instance, ACG, a renowned supplier of integrated solutions to the global pharmaceutical and nutraceutical sector, introduced their new ACGcaps™ NTone and ACGcaps™ TSafe capsules for the nutraceutical market in March 2021. The ACGcaps™ TSafe range offers gelatin and HPMC capsules without titanium dioxide, presenting more choices to meet diverse customer needs.
By embracing innovation, German manufacturers gain a competitive edge, ensuring their products meet evolving market demands and exceed customer expectations. Continuous advancements in technology and product offerings propel the growth and success of companies operating in the German pharmaceutical market.
In 2021, India emerged as a significant player, accounting for over 60.7% of sales in the South Asian region. The Indian market is fueled by government initiatives aimed at providing quality and affordable healthcare, which serves as a catalyst for market development. During the forecast period, the Indian market is projected to have a CAGR of 7.9% by 2033.
Favorable government initiatives, such as the launch of National Health Insurance and relaxation in custom duties, are unlocking untapped markets in South Asia, contributing to steady regional growth. The demand for HPMC capsules remains high, further driving market dynamics with increased average selling prices (ASP).
Furthermore, in India, the transition from a volume-based to a value-based scheme is supported by various measures taken by governments and radiotherapy service providers. These measures include outcome-based pricing, benefit and risk sharing, price management, and competitive tendering. Such initiatives are reshaping the Indian healthcare landscape, fostering growth opportunities for pharmaceutical companies.
In summary, government initiatives, favorable market conditions, and a shift towards value-based schemes are driving sales in India's pharmaceutical market, while innovation remains the key to success in the highly competitive German pharmaceutical industry.
Australia is expected to develop at a CAGR of 12.1% over the forecast period. Cost-cutting initiatives to reduce the burden of healthcare, especially in developing economies, is creating opportunities. In 2022, the market in Australia was expanding at a share of 11.9%.
With the help of research and development, new drug delivery systems drive growth in the long-term. Reducing the manufacturing cost is also a key concern for the pharmaceutical industry, which potentially gives a boost to the market in Australia.
For instance, in 2020, Capsugel launched Coni-Snap®, hard gelatin, sprinkle capsules specifically designed to meet the needs of a rapidly growing population that have difficulty swallowing. It is also available in HPMC.
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Based on product type, oral capsules are holding the lead, accounting for nearly 89.43% of the market in 2022. These capsules are produced for individual medications for a single patient, to provide specific doses and combinations to improve patient compliance. Hence, this is expected to increase demand.
Oral capsules are expected to remain the top choice for any patient, since they are easy to get, easy to swallow, are cost-effective, and prevent delayed released gastric degradation. The trend to use hard gelatin capsules to provide patients with therapy is expected to increase the use of empty capsules.
Vegetarian-based capsules are experiencing rapid growth, with a robust CAGR of 10.7% projected for the forecast period of 2023 to 2033. These capsules are being widely adopted by both the pharmaceutical and nutraceutical industries.
The increasing demand for vegetarian capsules is attributed to multiple factors. Firstly, there is a growing population of vegans and vegetarians who prefer plant-based alternatives. Additionally, concerns over allergies to animal-derived products have also fueled the demand for vegetarian-based capsules.
Manufacturers are leveraging cellulose as a substitute for animal sources, further driving the popularity of these capsules. This surge in demand presents a significant opportunity for manufacturers in the future.
Among advanced empty capsules, the size "0" segment dominated the market, with the leading revenue share of 19.3% in 2021. This size is highly favored due to the rising adoption of oral capsules.
Size "0" capsules have a capacity to hold up to 500 mg of drugs, which aligns with the volumes of many pharmaceutical dosages. Factors such as increased healthcare spending, improved patient compliance, and a high adoption rate of new drug delivery systems contribute to the growing interest in this market segment during the forecast period.
The pharmaceutical segment is projected to contribute the highest revenue share of 62.5% in 2022. Globally, the demand for advanced empty capsules in pharmaceutical applications is on the rise, as they are extensively used in the production of various pharmaceutical products.
The pharmaceutical industry is witnessing the emergence of new startups that are experiencing robust growth, supported by government initiatives and increased spending.
Government expenditure on healthcare is particularly high in wealthier countries, accounting for about 60% of total healthcare expenditure. Furthermore, global healthcare expenditure is anticipated to expand at a CAGR of 5% from 2019 to 2023. These factors collectively contribute to the strong sales of advanced empty capsules in the pharmaceutical sector.
The advanced empty capsule market is characterized by a competitive landscape, with key players vying for market share. Leading companies focus on research and development, technological advancements, and offering innovative capsule solutions to meet the diverse needs of the pharmaceutical, nutraceutical, and cosmeceutical industries.
Competition is driven by factors such as product quality, customization capabilities, pricing, and customer service. The market's competitive nature pushes companies to differentiate themselves and form strategic partnerships to expand their market presence and stay ahead in the dynamic market landscape.
Recent developments:
From 2018 to 2022, the market registered a CAGR of 11.3%.
The market is estimated to reach USD 1,856.1 million by 2033.
Oral capsule hold high revenue potential.
Russia, the United Kingdom and Germany dominate the global market.
The market is forecast to register a CAGR of 7.4% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Oral Capsules 5.1.1. Dry formulation 5.1.2. Liquid formulation 5.2. Inhalation Capsules 5.2.1. Gelatin 5.2.2. HPMC 5.2.3. Starch 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Raw Material 6.1. Animal Source 6.1.1. Contract Type-A (Pork Skin) 6.1.2. Type-B Gelatin (Animal Bones & Calf Skin) 6.1.3. Fish Bone Gelatin 6.2. Vegetarian-based 6.2.1. Hydroxy Propyl Methyl Cellulose (HPMC) 6.2.2. Starch 6.2.3. Pullulan 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capsules Size 7.1. Size "000" Capsules 7.2. Size "00" Capsules 7.3. Size "0" Capsules 7.4. Size "1" Capsules 7.5. Size "2" Capsules 7.6. Size "3" Capsules 7.7. Size "4" Capsules 7.8. Size "5" Capsules 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 8.1. Pharmaceutical 8.2. Nutraceutical & Cosmetic 8.3. CROs 8.4. CMOs 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. South Asia 9.5. East Asia 9.6. Oceania 9.7. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Capsugel (Lonza) 19.2. ACG Worldwide 19.3. Medi-Caps Limited 19.4. Sunil Healthcare Limited 19.5. Roxlor LLC 19.6. CapsCanada Corporation 19.7. Suheung Co., Ltd. 19.8. Bright Pharma Caps 19.9. STERIS Plc 19.10. Fuji Capsule Co. Ltd. 19.11. QUALICAPS 20. Assumptions & Acronyms Used 21. Research Methodology
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Advanced Empty Capsule Market
