Qualicaps, Inc. (U.S.), Suheung Co., Ltd. (Korea), Medi-Caps Ltd. (India), Roxlor LLC (U.S.), Sunil Healthcare Ltd. (India), Snail Pharma Industry Co., Ltd. (China), and Bright Pharma Caps, Inc. (U.S.)
(PRWEB) December 04, 2014
According to research report the “Empty Capsules Market by Product (Hard gelatin, Non-gelatin capsules), Raw Material (Pig meat, Bovine, HPMC), Therapeutic Application (Antibiotics, Vitamins) & by End User (Pharmaceutical, Health Supplements) - Global Forecast to 2019”, the global Empty Capsules Market is Expected to Reach $1,820 Million by 2019.
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Rapidly evolving pharmaceutical and nutraceutical industries across the globe are the key drivers for the growth of this market. Growing aging population, rising income levels, increasing awareness of personal health, easy access to high-quality healthcare facilities, and favorable government initiatives are some of the important factors that are expected to drive the pharmaceutical and nutraceutical industries. The growing demand for alternative gelatin capsules such as HPMC/nongelatin capsules in the pharmaceutical and nutraceutical industries are driving the empty capsules market. Another growth driver is the increase in therapeutic applications of capsules in the pharmaceutical industry.
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Capsules are extensively used for several therapeutic applications such as antibiotic drugs, vitamins and dietary supplements, antacid and antiflatulent preparations, anti-inflammatory drugs, cardiovascular therapy drugs, cough and cold preparations, and antiemetic preparations. Thus, the growing demand for innovative drug delivery formulations has positively impacted the growth of this market. Increased consumption of dietary supplements on a daily basis is also expected to drive the demand for empty capsules in the coming years. However, increasing gelatin prices and increasing competition from soft gelatin-based capsules is likely to hinder the growth of this market to a certain extent.
In this report, the empty capsules market is segmented by products, source of raw materials, therapeutic applications, end users, and geographic regions. It also discusses key market drivers, restraints, and opportunities of this market and its submarkets. The market was valued at $1,300 million in 2014 and is expected to grow at a CAGR of 7.0% from 2014 to 2019.
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In 2013, North America was the major leader with nearly 42% share of the global market, followed by Europe with a share of nearly 34%. The presence of a large number of empty capsule manufacturers in the North American and Asian regions has led to their large market share in the empty capsules market. However, the Asia-Pacific region represents the highest growth opportunity for the empty capsules market during the forecast period of 2014 to 2019. The APAC market is expected to grow at a CAGR of around 12-13% during the forecast period. The growth in this market is primarily driven by increased pharmaceutical and nutraceutical industries globally.
The major players in the empty capsules market include ACG Worldwide (India), Capsugel (U.S.), CapsCanada Corporation (Canada), Qualicaps Inc. (U.S.), Suheung Co., Ltd. (Korea), Medi-Caps Ltd. (India), Roxlor LLC (U.S.), Sunil Healthcare Ltd. (India), Snail Pharma Industry Co., Ltd. (China), and Bright Pharma Caps Inc. (U.S.).
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