Global Empty Capsules Market Report 2022: Increasing Pharmaceutical Applications Driving 7.4% Annual Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Empty Capsules Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The empty capsules market was valued at approximately USD 2,289 million in 2020, and it is expected to grow with a CAGR of 7.4% over the forecast period.
The key factors that boost the growth of the market include a rise in popularity of capsules over other drug delivery forms and an increase in strategic collaborations between empty capsule suppliers and gelatin manufacturers. Also, the growing geriatric population worldwide increases the demand for various therapy drugs and dietary supplements for better health outcomes.
According to the United Nations, World Ageing Population: the 2020 Revision, by 2050, approximately 1.5 billion are likely to be over age 65 years, up from 727 million in 2020. In addition, rapid advancements in capsule delivery technologies are set to supplement the market growth. However, ethical concerns, price fluctuations regarding gelatin materials, and stringent regulations in the pharmaceutical industry are expected to hamper the market growth.
Key Market Trends
The Cardiovascular Therapy Drugs Segment is Expected to Witness a Healthy CAGR Over the Forecast Period
Cardiovascular diseases (CVD) are highly prevalent globally. According to the World Health Organization 2019, an estimated 17.9 million people die due to cardiovascular diseases worldwide each year, and the number is expected to grow to more than 23.6 million by 2030. Additionally, as per the American Heart Association Research Report 2020, cardiovascular disease, listed as the underlying cause of death, accounts for nearly 2,353 deaths daily in the United States, which is an average of 1 death every 37 seconds. Also, according to the British Heart Foundation Centre, 2021, around 7.6 million people were living with heart and circulatory diseases in the United Kingdom. More than 40,000 people under the age of 75 years in the United Kingdom die from heart and circulatory diseases each year. The high incidence of cardiovascular diseases worldwide surges the demand for cardiovascular therapy drugs for effective treatment, which in turn, drives the growth of the studied market.
Additionally, during the current COVID-19 era, the American College of Cardiology and the Canadian Cardiovascular Society issued guidelines for the reintroduction of cardiac services during the pandemic, which includes home-based cardiac rehabilitation, aimed at providing exercise training, dietary counseling, medication management, tobacco cessation counseling, and psychosocial assessment interventions, as per the research article published in American College of Cardiology, 2021. Hence, the increase in cardiac rehabilitation sessions is expected to boost the studied segment during the COVID-19 pandemic.
Also, in September 2019, Lupin received approval from the Canadian health regulator for its Propranolol Hydrochloride extended-release capsules used for the treatment of hypertension and decreased frequency of angina. The increasing product approvals are also expected to boost the studied segment over the forecast period.
Empty capsules are useful in masking the taste of cardiac therapy drugs. This prevents the patient from feeling nauseated. Hence, as the prevalence of CVDs increases, the demand for cardiac therapy drugs will also increase. This factor may positively impact the empty capsules market.
North America Holds a Significant Share in the Market and is Expected to do the Same over the Forecast Period
The major share for this region is due to the rising preference for capsule-based nutraceutical formulations. Since these nutraceuticals help in the prevention of major health problems, such as obesity, cancer, and arthritis, there has been an increase in the consumption of these nutraceuticals. Additionally, capsules are the most preferred solid oral dosage forms, and thus, the demand for empty capsules in the nutraceutical industry is high in this region.
- Increasing Pharmaceutical Applications
- Technological Advancements in Empty Capsules
- Growing Geriatric Population
- Rising Gelatin Prices and Lower Availability of Raw Materials
- Cultural Practices and Dietary Restrictions
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD Million)
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- ACG Worldwide
- Bright Pharma Caps Inc.
- Capscanada Corporation
- Lonza Group (Capsugel)
- Medi-Caps Ltd
- Suheung Capsule Co. Ltd
- Qingdao Yiqing Medicinal Capsules Co. Ltd
- Shanxi Guangsheng Medicinal Capsules Co. Ltd
- Healthcaps India Ltd
- Nectar Lifesciences Ltd
- Shanxi JC Biological Technology Co. Ltd
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