The Future of Empty Capsules….. COVID-19 & Its Impact….



The global empty capsules market is expected to reach USD 2.57 billion by 2024, according to a new report by Grand View Research, Inc. Key factors responsible for the growth are the increase in the geriatric population, proliferation of pharmaceutical, nutraceutical, and cosmeceutical industries, globally and the upsurge in the consumer preferences for capsules over tablets.
Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor.
The rising geriatric population count and the associated chronic conditions are expected to heighten the demand for the production of capsule-centric medications in the pharmaceutical and nutraceutical application areas. Moreover, the benefits associated with capsule consumption, such as ease of swallowing, faster absorption rates, and increased palatability are also expected to contribute significantly to the expansion of the market over the forecast period.
The mushrooming of the pharmaceutical, nutraceutical, and cosmeceutical industries is expected to serve as a high impact rendering driver for the empty capsules market over the forecast period.
The nutraceuticals aid in the prevention of certain chronic conditions and hence the consumption of these products has significantly increased over the past few years. For instance, nutraceuticals, such as omega-3 fatty acids, help in the prevention of cardiovascular conditions and the heightened accessibility to these low-cost vitamin supplements has reduced the incidences of vitamin deficiencies.

In 2015, the gelatin capsules segment accounted for the highest revenue of nearly USD 1,172.3 million. This high revenue share is attributed to the following factors: sufficient availability of gelatin for the production process and the cost-effectiveness of gelatin capsules as compared to non-gelatin capsules, such as Hydroxypropyl methylcellulose (HPMC) capsules and pullulan or starch material capsules.
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However, the non-gelatin capsules segment is expected to emerge as the fastest growing category with a CAGR of 6.9% from 2016 to 2024. With the source of the non-gelatin capsules being vegetarian, the religious and cultural issues experienced in connection with capsules containing animal-derived inactive ingredients can be evaded; this factor is estimated to be primarily responsible for the large consumer base of this market over the forecast period. 
Further key findings from the study suggest:
·         In 2015, the antibiotic and antibacterial drugs segment generated the largest revenue of USD 453.7 million owing to the surge in prevalence of a range of infectious diseases and chronic conditions worldwide. The vitamins and dietary supplements category is expected to exhibit the fastest growth rate of 7.8% over the forecast period.
·         Global efforts to reduce malnutrition and vitamin deficiencies by various social welfare organizations and government agencies are expected to boost the usage rates over the forecast period.
·         In 2015, North America dominated the empty capsules market with a revenue share of over 39.6% due to the high disease burden, the access to the latest drugs in this region, and the high consumption rate of nutraceutical and cosmeceutical products in this region. Increase in the geriatric population susceptible to varied conditions and disorders coupled with the burgeoning of various bacterial and viral infections is expected to improve the market penetration of various antibiotics, multivitamin supplements, and other drugs.
·         The Asia Pacific region is estimated to grow with the highest CAGR of 7.9% over the forecast period. The increase in healthcare expenditure and the rise in per-capita disposable incomes are expected to improve the overall access to healthcare facilities and medicines across several developing countries in this region. Moreover, the upsurge in the prevalence of infectious diseases and chronic conditions in this region are also expected to positively reinforce the market growth over the forecast period.
·         The market dynamics indicate the presence of strong competition amongst the key players, such as Capsugel, Inc., ACG Associated capsules Pvt. Ltd., JC Biological Technology Co. Ltd, CapsCanada Corporation, Medicaps Ltd., Qualicaps, Inc. (Mitsubishi Chemical Holdings Corporation), Patheon, Inc. (Banner Pharmacaps, Inc.), Roxlor LLC, Sunil Healthcare Ltd.(Sunloc Healthcare, Inc.), and Nectar Lifesciences Ltd.
·         Furthermore, the increase in the demand for generic drugs and contract manufacturing services is expected to open up new avenues for the market growth over the forecast period. 
The global empty capsules market was valued at USD 1.34 billion in 2015. Key factors responsible for the growth include the increasing geriatric population, the high demand of empty capsules in the pharmaceutical, nutraceutical, and cosmeceutical industries, and the growing consumer preference for capsules over tablets.
The increased prevalence of the geriatric population and the associated chronic conditions imposes a high demand on the production of therapeutically-effective medicines to treat chronic health conditions. Capsules in the solid dosage forms are mostly preferred by the geriatric population due to the following reasons: they are easy to swallow, they have faster dissolution times in comparison to other oral dosage forms, and the decreased gastrointestinal irritation caused by these dosage forms.
The capsules are preferred by most of the consumers due to their fast disintegrating nature resulting in quicker absorption rates and the use of tasteless and odorless gelatin coating, which makes these capsules palatable. Most of the neutraceuticals and cosmeceuticals are preferred in the capsule forms, such as cod liver oil capsules and CosmoPod capsules, respectively. Aforementioned advantages associated with capsule consumption are responsible for the high global demand for the empty capsules in the pharmaceutical, nutraceutical, and cosmeceutical industries.
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However, the rising prices of the raw materials and the cultural and religious issues concerned with the consumption of capsules containing animal-derived inactive ingredients, such as porcine and bovine gelatin capsule shells, are the limiting factors for the growth of this market.
Grand View Research has segmented the empty capsules market by product, therapeutic application, end user: 
Global empty capsules market, by product (USD Million, 2013 - 2024)
·         Gelatin Capsules
·         Non-Gelatin capsules
Global empty capsules market by therapeutic application (USD Million, 2013 - 2024)
·         Antibiotic and antibacterial drugs
·         Vitamin and dietary supplements
·         Antacids and antiflatulent preparations,
·         Antianemic preparations,
·         Anti-inflammatory and anti-rheumatic drugs,
·         Cardiac therapy drugs,
·         Cough and cold preparations
Global empty capsules market by end-user (USD Million, 2013 - 2024)
·         Pharmaceutical industries
·         Nutraceutical industries
·         Cosmeceutical industries
·         Research laboratories
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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