The empty capsules market growth is poised to take place at a rapid pace due to the increasing nutraceuticals and pharmaceutical industries. Additionally, the inverse population pyramid that is becoming the new norm around the world is also making space for a growing aging population. This inurn is creating the need for increasing patient affordability and necessitating a greater awareness about the burgeoning health issues that are being supported by favorable government initiatives that are set to drive the global market growth.
Further, the increasing applications in prescribed pharmaceutical drugs and over-the-counter drugs, nutritional supplements, herbal alternatives are also set to push the empty capsules market trend upwards. Further, empty capsules are also preferred by drug makers that have low bioavailability, critical stability, low melting point, poor water solubility which is also set to propel the market growth during the forecast period. Besides the empty capsules offers a host of benefits that are inclusive of but not limited to low sensibility to oxygen permeability and constant capsule dimensions that are expected to fuel the growth of the empty capsules market. Nevertheless, the growth of the market is set to be affected due to steep capital investments that are required for players who are inclined to enter the supply side of the market. Furthermore, high gelatin prices are also projected to affect the empty capsule market growth.
The segment of the type of product that is going to occupy the largest market share
From the perspective of the type of products, gelatin capsules are estimated to occupy and sustain a major portion of the market share during the forecast period. This segment of the gelatin capsule is projected to witness such growth due to a plethora of factors. These factors can be listed as biocompatibility, non-allergenicity, thermo-reversibility, and tableting as well as viscoelasticity. Besides, the segment of non-gelatin capsules is projected to witness the highest rate of growth during the forecast period. Particularly considering HPMC capsules or Hydroxypropylmethylcellulose capsules it is important to note that these are resistant to extreme ambient temperature environments like that of extreme heat and extreme humidity. Further, it is characterized by low moisture capabilities which are suitable for a moisture-sensitive ingredient. Additionally, these capsules are derived out of plants that make them even more attractive than gelatin-based products. The main reason for preference over gelatin-based products is that increasing customer preference for products that are devoid of any preservatives as well as free of allergens specifically considering those who are susceptible to allergies from starch and or gluten.
The segment of end-user that is going to occupy the largest market share
On the basis of end-user, the largest market share is that of the pharmaceutical industries because it is an industry that undoubtedly contributes to the upkeep of the health, sustenance of life. It is the primary sector in the entire spectrum of healthcare that contributes to the reduction of the incidence of disease and health-related complications. Further, this one particular end-user industry is subjected to constant research and development that further aids in the reduction of disease and sickness that leads to the reduction of loss of productivity and contributes to the economic output of a nation and consequently of the entire world. Thus, the aforesaid will also lead to the growth of the empty capsule market during the forecast period. Moreover, within the pharmaceutical segment, the sub-segment of antibiotics currently occupies the largest share of the empty capsules market due to the increasing prevalence of bacterial infections and the emergence of viral disease that has taken the world by storm from December 2019. Further, tropical diseases and other ailments whose remedies are still being researched are also a few aspects that are going to keep contributing to the growth of the empty capsules market.
From the perspective of regional markets, the APAC, as well as the North American markets, are poised to fuel the growth of the empty capsule market. With respect to the APAC region, the pharma segment is ever-expanding and has no signs of receding. Further government spending toward achieving healthcare self-dependence is also another factor that is going to fuel the empty capsules market growth. Further growing awareness among the patient population is going to aid in the growth of this market. On the other hand with respect to North America, besides the huge investments in research and developments that the pharma segment is subjected to, there are a growing research and development investment and consumers’ interest in nutraceutical and cosmeceutical products that are going to thrust the market to a new zenith.
Competitive strategies by a key player in this sector
There have been a few key developments, which have been set in motion by certain major market players in the global packaging segment.
In February 2020, Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as "Dr. Reddy’s") announced the launch of Trientine Hydrochloride Capsules USP, 250 mg. It is a therapeutically equivalent generic version of Syprine® (trientine hydrochloride) Capsules, which are approved by the U.S. Food and Drug Administration (USFDA).
Then going back to 2019, Natural capsules Limited (Natural Capsules) had announced that it has entered into an arrangement to acquire the API business of Naari Pharma Private Limited, an integrated Hormonal Generics & API manufacturer on a slump sale basis. The acquisition covered the API manufacturing sire located in the state of Uttarakhand and associated business focused on the Hormonal API segment.
Again, in October 2019, CapsCanada®, the leading innovator of vegetarian K-CAPS®, relocated its headquarters to a new state-of-the-art facility that is strategically located in Dania Beach, Florida USA. It is in close proximity to major interstate highways Port Everglades and Fort Lauderdale International Airport. This decision was made to accelerate their growth by moving to a spacious facility that is meticulously designed and developed by the owners of CapsCanada®. Further, this would help the organization to increase its distribution footprint to meet the global high demand for the premium vegetarian capsule brand that is devoid of preservatives, allergens, and starches, enabling health-conscious consumers to choose something other than those derived from animal-derived capsules.