Empty Capsules Market Will Witness Growth Based On The Growing Consumer Preference For Capsules Over Tablets Till 2024:Grand View Research,inc.
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.
Browse full research report on Electrodes For Medical
Devices Market: http://www.grandviewresearch.com/industry-analysis/empty-capsules-market
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.
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Research: http://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
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
Access Press Release
By Grand View Research: http://www.grandviewresearch.com/press-release/global-empty-capsules-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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