Increasing prevalence of chronic diseases, such as cancer, diabetes, cardiovascular disease, and gastrointestinal disorders, rising number of clinical trials and Research & Development (R&D) activities, and rapid advancements in technology to develop capsules are major factors driving capsules market revenue growth.
Vancouver, Jan. 10, 2024 (GLOBE NEWSWIRE) -- The global capsule market size was USD 2.96 billion in 2022 and is expected to register a rapid revenue CAGR of 9.5% during the forecast period. Increasing prevalence of chronic diseases, such as cancer, diabetes, cardiovascular disease, and gastrointestinal disorders, rising number of clinical trials and Research & Development (R&D) activities, and rapid advancements in technology to develop capsules are major factors driving market revenue growth. Blank Capsules
Capsules are used by pharmaceutical manufactures to prepare different therapeutic drugs. Capsule shells are made of gelatin or non-gelatin, which is available in various shapes, sizes, and colors. In 2021, the World Health Organization (WHO) reported that over 17.9 million, 9.3 million, 4.1 million, and 1.5 million deaths worldwide were attributed to several forms of chronic diseases, including diabetes, cancer, respiratory disorders, and Cardiovascular Diseases (CVDs). In addition, increasing funding to the capsule manufacturing facilities from both public and private sources and R&D efforts for the creation of therapeutic products housed in capsules are other major factors driving revenue growth of the market.
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Furthermore, increasing number of clinical trials assessing the efficacy and safety of a broad spectrum of therapeutic medications is another factor driving market revenue growth. The elderly population is becoming older and more vulnerable to chronic illnesses, hence demand for nutritional supplements and immune boosters is rising. 25% of people over 60 reported consuming over four dietary supplements in 2020, according to the Centers for Disease Control and Prevention (CDC). It has been noted that the need for various dietary supplements (two, three, four, and more) increases as people age due to immune system deterioration.
However, fluctuations in the price of gelatin ingredients is a key factor, which could restrain market revenue growth. In addition, strict regulations in the pharmaceutical industry is another factor, which could restrain market revenue growth.
On the basis of product, the global capsule market is segmented into gelatin and non-gelatin
The gelatin segment accounted for largest revenue share in the global capsule market in 2022 due to incomparable benefits of gelatin capsules over other excipients. Gelatin has been the go-to excipient for producers for over 80 years. Need for these capsules is increasing due to remarkable qualities of these capsules, including inert and clean-label nature, ease of digestion, effective tamper-evident capsule production, superior mechanical resistance, high-quality seals, patient compliance, and abundant availability as a resource.
On the basis of application, the global capsule market is segmented into nutritional supplements, cosmetics, lifestyle goods, and others.
The nutritional supplements segment is expected to account for significantly large revenue share in the global capsule market during the forecast period. This is due to increasing number of people are becoming aware about importance of eating a balanced diet to meet basic needs. Governments across the globe, especially in underdeveloped countries where malnutrition is rampant, are always launching new programs to improve people's health. For example, the U.S. Food and Drug Administration (FDA) introduced the ’Supplement Your Knowledge‘ project in June 2022 to inform, educate, and improve educators', customers', and healthcare professionals' awareness about dietary supplements. In certain nations, nutritional supplements have played a critical role in improving the state of malnutrition. In addition, rising emphasis on health and wellness among adults is also expected to drive revenue growth of this segment during the forecast period.
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The North America market accounted for largest revenue share in the global capsule market in 2022 due to increasing aging population and rising burden of chronic illnesses. The Population Reference Bureau's Population Bulletin-Ageing in the U.S. projects that by 2060, there will be 95 million Americans over the age of 65, almost twice as many as there were 52 million in 2018. Similarly, 77% of Americans reported taking nutritional supplements, according to the 2019 CRN Consumer Survey on Nutritional Supplements report. The survey showed that, in 2019, vitamins and minerals accounted for 76% of all dietary supplements consumed by Americans. Specialty supplements (40%), herbals and botanicals (39%), sports nutrition supplements (28%), and weight management supplements (17%) were the next most popular supplement categories. In addition, increasing Research & Development (R&D) by well-organized healthcare systems in the U.S. and Canada. is another factor driving market revenue growth of this region.
The Europe market accounted for second-largest revenue share in the global capsule market in 2022. This is attributed to rising capsule sales by consumers' shifting lifestyles and increasing awareness and R&D investment. For instance, the UK's working population was estimated to be 32.75 million in 2021 and has been steadily rising over the previous few years. Nutraceuticals have become more popular due to rising prevalence of Non-Communicable Diseases (NCDs)such as diabetes, cancer, heart disease, and lung ailments.
Revenue in USD Billion and CAGR in % from 2023 to 2032
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, application, therapeutics, functionality, end-use, and region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
ACG, Bright Pharma Caps, CapsCanada Corporation, Roxlor, SNAIL PHARMA INDUSTRY., SUHEUNG, Sunil Healthcare Limited. QUALICAPS, Nectar Lifesciences Ltd. NATURAL CAPSULES LIMITED, Comed Chemicals Limited (CCL), Erawat Pharma Limited. Mitsubishi Chemical Group Corporation, and Farmacapsulas S.A
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Major Companies and Competitive Landscape
The global capsule market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective capsule products in the market. Some of the major companies included in the global capsule market report are:
On 1 August, 2023, Metrion Biosciences Limited declared that it has obtained the UK Medicines and Healthcare Products Regulatory Agency's final notice. Metrion is now a part of the UK Good Laboratory Practise Compliance Monitoring Program, according to the announcement.
On 23 March, 2023, Cadila Pharmaceuticals, inked a Memorandum of Understanding (MoU) with the state government of Gujrat with intention of investing USD 120 million in a span of three years until 2025 for setting up an Active Pharmaceuticals Ingredients (APIs) plant at Dahej, Bharuch & Ankleshwar and the Formation of Tablet & Capsules at Dholka Dist. Plant. With the funding, Cadila will establish a new facility for active medicinal ingredients over a three-year period.
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For the purpose of this report, Emergen Research has segmented the global capsule market on the basis of product, application, therapeutics, functionality end-use, and region:
Product Outlook (Revenue, USD Billion; 2019-2032)
Application Outlook (Revenue, USD Billion; 2019-2032)
Therapeutics Outlook (Revenue, USD Billion; 2019-2032)
Functionality Outlook (Revenue, USD Billion; 2019-2032)
End-use Outlook (Revenue, USD Billion; 2019-2032)
Regional Outlook (Revenue, USD Billion; 2019–2032)
Rest of Middle East & Africa
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