Growth in contract manufacturing expected to drive expansion in capsules market


Global empty capsules market expected to be worth US$1.82bn by 2019

Over the last decade, the capsules market has been experiencing growth primarily due to the rising ageing population and technological innovations in the market, with the pharmaceutical and nutraceutical industries catalysing this growth, a new report from MarketsandMarkets has revealed.

The report, Empty Capsules Market by Product, Raw Material, Therapeutic Application & by End User (Pharmaceutical, Health Supplements) – Global Forecast to 2019, segments the global empty capsules market by products, source of raw materials, therapeutic applications, and end users. It is also divided into hard gelatin capsules and non-gelatin capsules.

The segmentation by source of raw materials includes pig-skin gelatin, bone-derived gelatin, bovine-hide gelatin, hydroxypropyl methyl cellulose (HPMC), pullulan, starch materials, and others.

In terms of therapeutic applications, the market is segmented into antibiotic drug formulations, vitamins and dietary supplements, antacids and antiflatulents, anti-anaemic preparations, anti-inflammatory drugs, cardiovascular therapy drugs, cough and cold preparations, and others.

The market is further segmented by end users, including the pharmaceutical, nutraceutical and cosmetics industries, plus research laboratories.

The global capsules market is expected to grow at a moderate CAGR from 2014 to 2019 and is expected to be worth US$1.82bn by 2019.

The report finds that the market is mainly driven by the rising demand for hard gelatin and vegetarian capsules in the pharmaceutical and nutraceutical industries, backed by the increasing number of therapeutic applications.

By 2019, North America will account for the largest share of the market, followed by Europe, Asia-Pacific, and RoW

The rise of manufacturing and contract manufacturing services in the pharmaceutical industry is also expected to propel the growth of the market during the forecast period. Technological advances, such as vegetarian capsules or non-gelatin capsules, capsule dosing for dry powder inhalers, capsule-in-capsule for sustained release effect, and solid lipid pellet capsules are also expected to contribute to the growth of the market in the pharmaceutical and nutraceutical industries.

By 2019, North America will account for the largest share of the market, followed by Europe, Asia-Pacific, and RoW. Developed regions such as North America and Europe are likely to grow at a lower CAGR than Asia-Pacific, the report finds. The Asia-Pacific region is expected to have the fastest market growth during the forecast period, largely driven by increasing health awareness, the rising affordability of healthcare services, and the growing number of pharmaceutical and nutraceutical industries.

Leading players include ACG Worldwide (India), Capsugel (US), CapsCanada Corporation (Canada), Qualicaps (US), Suheung Co (Korea), Medi-Caps (India), Roxlor (US), Sunil Healthcare (India), Snail Pharma Industry Co (China), and Bright Pharma Caps (US).

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Capsugel and ACG Worldwide together accounted for around 40–50% of the market in 2013. Capsugel has a diversified product portfolio, which includes hard gelatin and non-gelatin capsules. The company has extensive experience and expertise in gelatin and capsule manufacturing, and a strong geographical presence, with business operations in several regions across the globe including Asia-Pacific, Europe, North America, Central America, and Latin America.