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Market Research Future (MRFR) reports that the global market for two-piece empty hard capsule is set to cross the valuation of USD 2,585.7 million by 2023. The market is highly competitive with the presence of formidable players striving to make a mark, taking note of any opportunities in the market and using it for their benefit.Global Two-Piece Empty Hard Capsules Market – Competitive Dashboard
Some of the key players profiled in the report include ACG, Capsugel, Shanxi Guangsheng Medicinal Capsule Co., Ltd, Hunan ER-KANG Pharmaceutical Co., Ltd, CapsCanada, Suheung Co., Ltd, QUALICAPS (Mitsubishi Chemical Holdings), and others.
Global Two-Piece Empty Hard Capsules Market – Insights
These include technological innovations as numerous benefits are associated with it, including minimal excipients required for formulations, differentiated pharmacokinetic performance, along with accelerated product development. Hence, in a competitive market, technological innovations in terms of product development increase the demand for two-piece empty hard capsules in industries. Moreover, growing consumer preference towards capsule-based formulations has also led to the market expansion in the past few years. Increasing applications of these capsules in pharmaceuticals and nutraceutical companies also fuel the market growth over the forecast period (2018-2023).
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Global Two-Piece Empty Hard Capsules Market – Segmental Analysis
The MRFR’s report offers a detailed segmental analysis of the market on the basis of raw material, end-user, and region.
By raw material, the market is segmented on the basis of gelatin, HPMC, and starch and pullulan. Among these, gelatin is estimated to lead the market due to a large number of gelatin capsules being manufactured, the protein content of gelatin, and low cost of gelatin capsules as compared to HPMC capsules. It had accounted for a 45.50% market share in 2017. However, HPMC is anticipated to be the fastest growing segment followed by the starch and pullulan segment.
By end-user, the market is segmented on the basis of pharmaceuticals, health and nutrition, and others. The pharmaceutical segment is expected to claim the largest market share as an end-user due to wide applications of empty hard capsules in pharmaceutical industries. Also, growing pharmaceuticals industries across the globe and increasing preference for capsule dosage forms by consumers are anticipated to trigger the growth of the pharmaceutical segment during the forecast period.
Global Two-Piece Empty Hard Capsules Market – Regional Outlook
By region, the global two-piece empty hard capsule market is segmented on the basis of the Americas, Europe, Asia, and the Rest-of-the-World (RoW).
Among these, the Americas two-piece empty hard capsule market is split between two key regions which are North America and Latin America. Among these, North America is estimated to dominate the global market with a major market share owing to the large industrial base, numerous ongoing research activities, geriatric population, focus on health care, and growing demand for empty hard capsules from end-use industries such as nutraceuticals and pharmaceuticals. Moreover, growing preference for capsule dosage forms and flourishing pharmaceutical manufacturing industries also bode well with the market growth in the region. The market players in the region are highly competitive and hold dominance over other global companies, having wide geographic footprints, strong product portfolios, as well as large established client bases. For instance, Capsugel (U.S.) is touted as the leading market player in the market owing to its strong product portfolio that consists of empty and two-piece hard capsules in the form of hard gelatin, vegetarian, and liquid-filled capsules.
The European two-piece empty hard capsule market, on the other hand, secures the second position in the global market among all regions due to the increasing applications of capsules in pharmaceuticals and nutraceuticals companies. Moreover, the various benefits offered by the capsules such as complete safety, cost-efficiency, reduced weight and optimal rate of dissolution stimulate the demand for them in the Europe region. The large patient pool and rising aging population also work in favor of the market growth in the region.
Asia Pacific is projected to be the fastest growing region in the global market owing to the proliferation of pharmaceutical industries, favorable government initiatives in the healthcare sector, and thriving pharmaceutical manufacturing industries. Also, the growing demand for nutraceuticals and cosmeceuticals due to the increasing awareness about health is boosting the market growth as well. In addition, acquisitions and new product launches are major strategies adopted by the top players in the region. For instance, in March 2013, Medi-Caps Ltd. (India) acquired Medgel Pvt. Ltd. (India) to enhance its product portfolio along with its market share in the empty capsules market.
Lastly, the rest of the world will portray the least but promising growth in the market in the coming years due to factors such as limited adoption of healthcare IT and limited access and availability of treatment facilities.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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