Empty Capsules Market Size and Market Growth:
Empty Capsules Market was worth $1685.2 million in 2019 and estimated to be growing at a CAGR of 7.57%, to reach $ 2428.6 million by 2024.
Empty Capsules Market Overview:
The Empty Capsules Market was worth $1685.2 million in 2019 and estimated to be growing at a CAGR of 7.57%, to reach $ 2428.6 million by 2024. The market is showcasing evident potential in the mentioned forecasting period. Empty Capsules are generally made from Gelatin, which is derived from plant or animal origin. These are used as dosage form for prescription and OTC drugs, nutrient supplements and herbal products.
Empty Capsules Market Drivers and Restraints:
Growth of global empty capsules market is expected to be driven by growing applications in pharmaceutical and nutraceuticals companies. Technological advancements coupled with growing consumer preference towards capsule based formulations are also fuelling the market growth. However increasing costs of raw material, stringent regulatory frameworks and religious issues concerned with the consumption of capsules containing animal derived ingredients are limiting the growth of the market.
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Report segmented as
By Product Type:
• Gelatin Capsules
• Non-Gelatin Capsules
By Application:
• Antibiotic And Antibacterial Drugs
• Vitamins And Dietary Supplements
• Antacid And Antiflatulent Preparations
• Antianemic Preparations
• Anti-Inflammatory Drugs
• Cardiovascular Therapy Drugs
• Cough And Cold Preparations
By End User:
• Pharmaceutical Industry
• Nutraceutical Industry
• Cosmetics Industry
• Research Laboratories
Empty Capsules Market Geographical Analysis:
On the basis of geography global market for empty capsules is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is the dominating market for Empty capsules accounting for a share of approximately 37% owing to rising consumer awareness and increase in the consumption of nutraceutical products. Asia-Pacific is estimated to be the fastest growing region due to increasing government support and increasing demand for nutraceuticals and cosmeceuticals.
Empty Capsules Market Key Players:
Some of the major companies covered in the report are Capsugel, Acg Worldwide, Suheung Co Ltd., Bright Pharmacaps Inc., Capscanada Corporation, Medi-Caps Ltd., Qualicaps, Roxlor, LLC, Snail Pharma Industry Co., Ltd. and Sunil Healthcare Limited
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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