The empty capsules market has witnessed considerable demand over the last few decades owing to its widespread application in the pharmaceutical industry. Empty capsules are one of the most common and preferred dosage forms used for encapsulating various active pharmaceutical ingredients. The capsules are available in different sizes to accommodate different dosage amounts and are made from either gelatin or non-gelatin materials like hydroxypropyl methylcellulose (HPMC). The gelatin capsules are popular for encapsulating various powdered and granulated pharmaceutical formulations, while non-gelatin capsules are preferred by vegan populations. Empty capsules provide benefits like accurate dosing, ease of swallowing, and protection of enclosed ingredients from gastric juices. The recent patent cliffs and increased formulation of new generic medicines have also augmented empty capsule consumption.

The global empty capsules market is estimated to be valued at US$2.3 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.

Key Takeaways
Key players operating in the empty capsules market are ACG Worldwide, Capsugel, Qualicaps Inc., Bright Pharma Caps Inc., Sunil Healthcare Ltd., CapsCanada Corporation, Roxlor LLC, Snail Pharma Industry Co. Ltd., Suheung Co. Ltd., and Medi-Caps Ltd. These players occupy a significant share in the global empty capsules market owing to their widespread product portfolios and global distribution networks.

The growing demand for capsule-based drug delivery across the world is another major factor driving the empty capsules market. Especially in developing countries, capsules are becoming one of the preferred oral dosage forms owing to the increasing affordability and accessibility of capsules.

Empty capsules manufacturers are also expanding their global footprint to cater to the burgeoning demand from international markets. The increasing healthcare expenditure and demand for generic medicines from emerging economies in Asia Pacific and Latin America are encouraging market players to augment their foreign direct investments and local production capabilities in such regions.

Market Drivers
Growing preference for capsule-based drug delivery from pharmaceutical companies is a key market driver. Capsules offer benefits like accurate dosing and lower manufacturing costs compared to other solid oral dosage forms like tablets. The uniform fill weight and content uniformity provided by capsules also simplify generic drug production. Moreover, capsules have high consumer acceptability and compliance rates owing to their easy swallowing nature. These advantages have encouraged many pharmaceutical firms to rely on capsule formulations, thereby fueling empty capsule consumption.

The current geopolitical situation is impacting the growth of the empty capsules market. The rising tensions between major economies have disrupted global supply chains. Many raw material suppliers and capsule manufacturers are dependent on resources and components from regions facing conflicts or sanctions. This makes procurement and production planning challenging. Therefore, companies in this market need to diversify their supplier base and identify alternate sourcing options in different geographies to avoid dependencies. They also need to factor in risks of delayed clearances or higher input costs while projecting future demands. Stockpiling of critical materials for a certain period may help tackle immediate shortages.

The empty capsules market players should focus on expanding in developing economies which are relatively insulated from global political issues. While growth in established markets may slow down temporarily due to economic uncertainties, emerging countries continue posting strong numbers driven by a growing young population and increasing healthcare spends. Southeast Asia, Middle East, Africa and Latin America offer lucrative opportunities. Local manufacturing and partnerships can help optimize supply networks, costs and address language/culture barriers in these regions.

In terms of value, North America represents the largest region for the empty capsules market currently. The presence of major pharmaceutical companies and increasing consumption of nutraceuticals and dietary supplements keep the demand high. Europe holds the second largest share owing to a large consumer base and availability of advanced healthcare facilities. However, the Asia Pacific region is growing at the fastest pace and closing the gap with above regions quickly. Rising incomes, greater health awareness and an aging population are fueling the growth of pharmaceutical, nutraceutical and OTC drug needs in countries like India, China and other developing Asian countries.

The concentration of value in the empty capsules market is currently highest in developed regions of North America and Europe which collectively account for over 60% share. However, Asia Pacific region is emerging as the fastest growing market globally with a projected CAGR of around 9% during the forecast period from 2023 to 2030. Factors such as improving access to healthcare, growing per capita expenditure on pharmaceuticals and medical devices, increasing lifestyle diseases and rising health insurance penetration are driving the growth in Asia Pacific region. Moreover, availability of low-cost manufacturing facilities and presence of large consumer base are attracting major capsule manufacturers to set up production plants in many Asian countries.

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191