The global empty capsules market is set to grow at a CAGR of 8% from 2020 to 2030, driven by pharmaceutical demand and innovation in capsule types.
Empty capsules are witnessing an adoption upsurge, owing to numerous factors such as limited number of competitors, growing demand from the pharmaceutical sector, standard margin level, and potential opportunities in vegan gelatin-based capsules. Further, faster uptake by the FDA and focus of market players on ramping up production capacity are key factors shaping the growth of the empty capsules market.
Empty capsule manufacturers are progressively targeting specialty markets such as contract manufacturers, generic manufacturers, and pediatric drug manufactures. Increasing penetration of low-cost manufacturers in various countries, and supply contracts of life-saving essential drugs, primarily in developing and emerging countries, are further driving the empty capsules market.
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The global empty capsules market is estimated to be valued at US$ 1.9 Bn in 2020, with the market expected to exhibit a CAGR of 8% during the forecast period (2020-2030). The coronavirus (COVID-19) pandemic that has so far claimed the lives of over 200,000 people and infected over 3 million, has forced several countries to declare nationwide lockdowns. This has disturbed supply chains in the empty capsules market, due to logistics paralysis. As such, the market is expected to witness a gradual decline in in 2020.
“Lower labour cost and abundant availability of raw materials are among the key factors driving the empty capsules market in Asia Pacific excluding Japan (APEJ) and Western Europe. In addition, favorable regulatory ecosystem to establish empty capsule manufacturing businesses and lower taxation policies are propelling market growth in APAC.”
Key Takeaways of Empty Capsules Market Study
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Key Players Focus on Capacity Expansion, Strategic Acquisitions, and Joint Ventures to Widen Regional Presence
Leading players in the empty capsules market, such ACG Worldwide, Capsugel, Qualicaps, Inc., Bright Pharma Caps, Inc., and Roxlor LLC, are concentrating on business expansion through mergers, joint ventures, distribution agreements, and capturing untapped market potential.
Additionally, current acquisitions are focused on capacity expansion and manufacturing capabilities of existing empty capsules players to gain market share.
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The article discusses the growth and trends in the global empty capsules market from 2020 to 2030.
Factors include pharmaceutical demand, production capacity expansion, and innovation in capsule types.
China and India are highlighted as regions with significant market growth potential.
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