An Incisive, In-depth Analysis on the Empty Capsules Market
This study offers a comprehensive, 360 degree analysis on the Empty Capsules market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Empty Capsules market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Empty capsules are made from gelatin, which is derived from animal protein (pork skin, animal bones & skin and fish bones) and plant polysaccharides or their derivatives (HPMC, starch, pullulan and others). These empty capsules are made in two halves: a lower-diameter "body" that is filled with various drug dosage forms and then sealed using a higher-diameter "cap". Empty capsules are conventionally used as an oral solid dosage form for both prescription and OTC drugs, herbal products and nutrient supplements (either in powder or pellets form). In addition, empty capsules are also used for filling liquids and semi-solid dosage forms, especially for drugs that have low bioavailability, poor water solubility, critical stability, low dose/high potency and low melting points. Empty capsules offer some advantages over soft-gelatin capsules such as constant capsule dimensions and low sensitive to oxygen permeability. Also, these capsules can be manufactured in small batches and can be developed and manufactured in-house. In this report, the global empty capsules market has been segmented on the basis of product type, raw material, size of capsules, route of administration, end user and region.
Market Value and Forecast
The global empty capsules market has been estimated to be valued at US$ 1,432.6 Mn by 2016 end and is expected to expand at a CAGR of 7.3% over the forecast period (2016–2026).
Growth of the global empty capsules market is expected to be driven by rising adoption of vegetarian-based empty capsules by pharmaceuticals and nutraceuticals companies. Other major factors expected to fuel growth of the empty capsules market include increasing demand from Muslim population countries for halal-based capsules as well as increasing adoption of vegetarian empty capsules by vegan groups. Globally, majority of empty capsules manufacturers are expected to invest more on technological advancements and better product designs to attract customers. Additionally, increasing outsourcing activity to pharmaceutical solid dosage contract manufacturing organizations are also expected to play a prominent role.
Market Segmentation By Product Type
Based on product type, the market has been segmented into gelatin (hard)-based capsules and vegetarian-based capsules. Demand for vegetarian-based empty capsules is expected to increase significantly in the global empty capsules market over the forecast period. Vegetarian-based capsules are costlier than gelatin-based capsules.
Market Segmentation By Raw Material
Based on raw material, the market has been segmented into type-A gelatin (pork skin), type-B gelatin (animal bones & calf skin), fish bone gelatin, hydroxy propyl methyl cellulose (HPMC), starch materials and pullulan. Type-B gelatin (animal bones & calf skin) segment currently accounts for highest revenue share of the empty capsules market. HPMC segment is forecast to be the most attractive segment in the global empty capsules market. Fish bone gelatin segment is expected to register high Y-o-Y growth throughout the forecast period.
Market Segmentation By Capsule Size
Based on capsule size, the market has been segmented into size ‘000’, size ‘00’, size ‘0’, size ‘1’, size ‘2’, size’3’, size ‘4’ and size ‘5’. Size ‘3’ capsules segment is expected to register high Y-o-Y growth throughout the forecast period. Size ‘0’ segment is forecast to be the most attractive segment in the global empty capsules market over the forecast period. In terms of value, size ‘0’ capsules segment accounted for the highest share in 2015 and is anticipated to remain dominant throughout the forecast period.
Market Segmentation By Route of Administration
Based on route of administration, the market has been segmented into oral administration and inhalation administration. Oral administration segment is forecast to be the most attractive segment in the global empty capsules market. In terms of revenue contribution, oral administration segment is anticipated to remain dominant during the forecast period.
Market Segmentation By End User
Based on end user, the market has been segmented into pharmaceuticals companies, cosmetics & nutraceuticals companies and clinical research organisations (CROs). Demand for empty capsules from pharmaceuticals companies is expected to increase over the forecast period.
The global empty capsules market has been segmented into seven major regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). In terms of value, the North America empty capsules market is estimated to dominate the global empty capsules market in 2016, and is expected to expand at a CAGR of 5.3% over the forecast period. APEJ, Latin America and MEA are estimated to be the fastest growing markets over the forecast period. In terms of value, the APEJ market is expected to register a CAGR of 12.1% over 2016–2026. Vegetarian-based capsules segment in the APEJ empty capsules market is expected to register a CAGR of 17.0% over the forecast period, driven by increasing adoption of vegetarian-based empty capsules in the region.
Some of the key players in the global empty capsules market included in the report are Capsugel, ACG Worldwide, CapsCanada Corporation, Roxlor LLC, Qualicaps, Inc., Suheung Co., Ltd., Medi-Caps Ltd., Sunil Healthcare Ltd., Snail Pharma Industry Co., Ltd. and Bright Pharma Caps, Inc.. The report also identifies company-specific strategies related to product development and market consolidation initiatives and analysis of the concerned company’s specific strengths, weaknesses, opportunities and threats.
The empty capsules market is broadly classified as vegetarian-based and hard (gelatin) capsules by type. On the basis of end use industry, the market has been categorized into pharmaceutical companies, cosmetic and nutraceutical companies, and CROs (clinical research organizations). Besides these key segments, the global market for empty capsules is classified on the basis of various other attributes, including raw material type, capsule size, route of administration, and region. The global empty capsules market has been recently analyzed by Future Market Insights and a detailed assessment of the market has been provided by FMI in its newly published research intelligence outlook – “Empty Capsules Market: Global Industry Analysis and Opportunity Assessment 2016-2026”.
The global empty capsules market report begins with an executive summary, offering quick information about the market size in terms of both value and volume. It also includes an overview of the key market segments with the help of market scenario registered in 2016 that has been considered as the base year for this study on the market for 2016-2026. This section of the report is followed by the market overview and definition, further followed by key market segmentation on the basis of product type, capsule size, the type of raw material, route of administration, end use industry, and region.
The next part of the global empty capsules market report provides extensive macroeconomic indicator analysis, region-wise. The report in its next chapter focuses on the most prominent driving factors responsible for market growth – both from the demand side and supply side. With precise insights on existing and upcoming market opportunities, the report offers detailed region-wise opportunity assessment considering all the four phases of clinical trials involved in empty capsules manufacturing process. The report also covers key restraints analysis to help readers understand the exact impact of the factors that are expected to hold a negative influence on the performance of the empty capsules market.
In its next section, the report on empty capsules market discusses a series of most impactful market trends that has to be understood in order to adapt to the most significant ones. In-depth pricing analysis and region-wise pricing forecast have been offered in the next part of the report with an objective to help businesses understand the most significant attributes to consider while building their pricing strategies. Later, the report provides an exhaustive market assessment and forecast based on each product type, and throws light on the market value share, basis point share, and absolute dollar opportunity analysis. Moreover, growth rate comparison has been conducted on the Y-o-Y basis.
Through the regional analysis of empty capsules market, the report examines each of the seven key geographies covered in the global marketplace. This chapter of the report offers regional market performance, regional opportunity and trend assessment, driver and restraint impact analysis, and forecast of the regional performance over the forecast period. Competition analysis is the next section of the global empty capsules market report that provides the information about product portfolio, SWOT analysis, and strategy overview.
The market research approach of FMI’s market research team covers thorough secondary research, primary research, detailed data analysis, and data validation, and data triangulation for drawing accurate actionable insights. The primary analysis involves identification of the key opinion leaders, designing of the interview questionnaire, conducting detailed interviews, and gathering inputs across the entire value chain. On the other hand, desk research involves collection of inputs from key industry experts on various market channels, recent market developments, key market dynamics and their impact, products, and conclusion. Whereas, company analysis offers information on market participants, their key strengths, product portfolio, position mapping according to value chain, and key focus segments.