September 26, 2023 06:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
Valley Cottage, New York, UNITED STATES Best Empty Capsules
NEWARK, Del, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The global empty capsules market is expected to generate lucrative growth opportunities. The global market for empty capsules is expected to reach US$ 2.3 billion in 2023. The market is expected to grow at a 7.9% CAGR through 2033, reaching a total value of US$ 4.9 billion. The empty pill capsule market currently accounts for approximately 1% of the global drug delivery market. The adaptability of such fillable capsules is expected to gradually increase the use of empty pills in the nutraceutical and pharmaceutical industries.
Owing to the surging consumption of various drugs combined with the increasing popularity of capsules over several other drug delivery forms is a primary factor boosting sales of empty capsules. Since the burden of chronic diseases continues to rise, demand for therapeutics is anticipated to increase at a substantial pace. This is, in turn, expected to generate lucrative growth prospects for the suppliers of empty capsules.
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Empty capsules are known as protective shells for drugs designed from special film-forming materials such as gelatin, starch, and pullulan. Being innovative drug delivery products, they are utilized by leading pharmaceutical and biopharmaceutical companies due to their various attractive features. Such capsules are economical, oxidation resistant, offer maximum flexibility, and are easy to use on account of their smooth and slippery nature. Furthermore, they are especially suitable for substances having a bitter taste and unpleasant odor.
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The global empty capsules market is highly competitive, attributed to the presence of leading empty pill manufacturers that account for over 70% of the global market share. Prominent market players constantly focus on introducing new products made of innovative materials. In addition to that, they are adopting growth strategies such as partnerships, mergers, acquisitions, etc., to expand their global footprint.
Empty Capsules Industry Survey Market Segmentation:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
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