Dubai, U.A.E, June 10, 2021 /PRNewswire/ -- The global advanced empty capsule market sales are set to grow at over 8% CAGR during the forecast period of 2021 and 2031, estimates ESOMAR-certified consulting firm Future Market Insights.
Rising demand for halal-certified products from countries with Muslim population is fueling the demand of advanced empty capsules. Increasing demand for customized capsules within pharmaceutical and nutraceutical industry is bolstering the market growth.
Also, demand for vegetarian-based capsules is increasing in pharmaceutical companies to curb the manufacturing of gelatin-based capsules. As a result, manufacturing companies are amplifying the production of vegetarian-based capsules.
Increasing consumption of vitamin supplements across countries such as Russia, the U.S., Germany and the U.K. is improving the production of empty-capsule. Research and development for drug delivery systems and increasing initiatives undertaken by government is improving the growth.
Technological advancements, favorable government policies and high adoption of oral capsules in pharmaceutical companies are widening the growth opportunities for empty capsule manufacturers over the forecast period.
As per FMI's analysis, the global advanced empty capsule market is anticipated to surpass a valuation of US$ 1.5 Bn by 2021.
"Increasing demand of vegetarian-based capsule within pharmaceutical companies is accelerating the production, providing lucrative growth opportunities for the manufacturers," says the FMI analyst.
Key Takeaways from FMI's Advanced Empty Capsule Market Study
In terms of product, oral capsules holds the largest market share, accounting for nearly 90% of advanced empty capsule market
Vegetarian-based capsule are exhibiting fast growth at a CAGR of over 10.7% attributing to the high demand from pharmaceutical as well as nutraceutical industry
Oral capsules of size '0' is the most preferred advanced empty capsule as compared to the others, registering the highest revenue share of 19.3% in 2021
Pharmaceutical industry is expected to be the leading end user segment, accounting for over 62% of market share in 2021
India will account for over 60% of advanced empty capsule sales in South Asia on the back of increasing expenditure in the healthcare industry
Russia is anticipated to lead the Europe's advanced empty capsule market, exhibiting the growth of 7.3% CAGR during 2021-2031
Advanced empty capsule sales across U.K. are set to grow at nearly 5.2% CAGR backed by expansion of healthcare industry
By 2031, Germany is expected to hold nearly 26% of advanced empty capsule market share
Due to increased research & development for drug delivery system across Australia, the advanced empty capsule market sales are set to grow at 12.1% CAGR through 2021
Product innovation and new launches remain the key strategy for the market players. Key players are investing in the research and development for the innovation of products and for revenue generation.
In March 2021, a leading player CapsCanada, a Lyfe Group, announced the launch of a new manufacturing service for its new liquid-filled hard capsule.
In November 2019, Suheung Co. Ltd., announced the opening of their new EMBO CAPS VG-Alpha capsule facility located in the Long Thanh Industrial Zone. Embocaps® by Suheung's vegetarian capsule product line includes the EMBO CAPS® VG, EMBO CAPS® VG-ALPHA; both non-animal alternatives to gelatin capsules; and the EMBO CAPS®AP, a non-animal delayed release capsule and the EMBO CAPS® VP, a pullulan based capsule.
In July 2018, another key player, Lonza's Capsule Delivery Solutions announced the launch of Capsugel Vcaps Gen C capsules based on the carrageenan gelling-agent formulation. With this launch the company is expanding its Lonza's capsugel hydroxypropyl methyl cellulose (HPMC) product portfolio.
Some of the prominent market players profiled by Future Market Insights operating in advanced empty capsule market include:
More Insights on the Global Advanced Empty Capsule Market
Future Market Insights, in its latest offering offers an unbiased analysis on the global advanced empty capsule market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:
What will be the demand outlook forecast of advanced empty capsule market?
Which is the highest grossing market for advanced empty capsules?
Who is the leading end user of advanced empty capsule market?
Which are some of the leading companies offering advanced empty capsule products?
Which region will remain the most lucrative throughout the forecast period?
What is the impact of Covid-19 on advanced empty capsule market?
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