PORTLAND, Oregon, July 20, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled,"Empty Capsules Market by Product, Raw Material, Therapeutic Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2025," the global empty capsules market was valued at $1,841.5 million in
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Capsules are the second most common form of dosage for the oral administration of drugs after tablets. These are largely used in the nutraceutical and pharmaceutical sectors. Reduction in the timelines of drug development under standard conditions has been the key factor driving the production of drugs delivered in the form of capsules among pharmaceutical and nutraceutical manufacturers. In addition, this strategy enables pharmaceutical manufacturers to reduce the time required to introduce the drug in the market. The other advantage includes protection of a drug substance from various external factors, such as natural or artificial light during production, storage, administration, and use. Furthermore, capsules act as an efficient shield, which prevents the enclosed drugs from decomposition.
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Based on the product, the global empty capsules market is classified into gelatin capsules and non-gelatin capsules. Gelatin capsules are further bifurcated into hard gelatin capsules (HGCs) and soft gelatin capsules (SGCs). The gelatin segment dominated the global market in 2017 and is expected to maintain this trend throughout the forecast period. Gelatin has been the standard choice of raw material for the development of hard shell capsules that can efficiently hold active pharmaceutical ingredients (APIs). Whereas, the non-gelatin capsules segment are expected to grow at the fastest pace from 2018 to 2025. An increase in demand for hydroxypropyl methylcellulose (HPMC) capsules is the major contributor to the robust CAGR of the non-gelatin capsules segment in the global market. Furthermore, a major shift in consumer behavior has been observed toward the use of vegetarian capsules in the recent years.
Based on therapeutic application, the market is divided into antibiotic & antibacterial drugs, vitamin & dietary supplements, antacids & anti-flatulent preparations, cardiac therapy drugs, and other applications. The antibiotic & antibacterial drugs segment dominated the global market in 2017 and is anticipated to continue this dominance throughout the forecast period. However, the vitamin & dietary supplements segment is expected to grow at the fastest pace throughout the forecast period. Consumption of antibiotics has considerably increased in the recent years. Increasing consumption of antibiotics, either prescription or over-the-counter, has resulted in incessant use of antibiotics for the treatment of ailments across the globe.
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KEY FINDINGS OF THE STUDY
The Asia-Pacific region is expected to witness the highest growth rate throughout the forecast period, owing to its high population base, increase in disposable incomes, improvement in patient awareness toward chronic disorders, and adoption of a healthy lifestyle. In addition, countries, such as India and China, serve as major contributors to the growth of the Asia-Pacific empty capsules market, owing to the continuously evolving pharmaceutical industry in these countries.
The major companies profiled in this report include ACG Worldwide, Bright Pharma Caps Inc., CapsCanada Corporation, Lonza Group Ltd. (Capsugel), Medi-Caps Ltd., Mitsubishi Chemical Holdings Corporation (Qualicaps, Inc.), Roxlor LLC, Snail Pharma Industry Co. Ltd, Suheung Co., Ltd, and Sunil Healthcare Ltd. The other prominent players in the value chain include Patheon Ltd., Nectar Lifesciences Ltd., JC Biological Technologies, Natural Capsules Ltd., Zhejiang Huili Capsules Co., Ltd., Healthcaps India Limited, HTC Group Limited, and Nanjing Saturn Pharmaceutical Technology Co., Ltd.
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SOURCE Allied Market Research
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