Product ID: SQMIG35I2145
Report ID:
SQMIG35I2145 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
122 |
Figures:
77
Global Empty Capsules Market size was valued at USD 2.70 billion in 2022 and is poised to grow from USD 2.89 billion in 2023 to USD 4.96 billion by 2031, growing at a CAGR of 7% during the forecast period (2024-2031).
The rise in geriatric population, the high need for empty capsules in the pharmaceuticals, nutraceutical, and cosmeceutical sectors, and the growing customer preference for capsules over tablets are all driving the growth. The rising incidence of elderly people and the related chronic illnesses places a significant demand on the manufacture of therapeutically effective drugs to treat chronic health issues. The geriatric population prefers capsules in solid dose forms for a number of causes: they are easy to swallow, have faster dissolving times than other oral dosage forms, and produce less gastrointestinal irritation.
The capsules are favored by the majority of customers due to their fast-dissolving nature, leading to faster absorption rates, and the usage of tasteless and odorless gelatin covering, making these capsules pleasant. The majority of nutraceuticals and cosmeceuticals tend to come in capsule form, such as cod liver oil capsule and CosmoPod capsules, accordingly. The aforementioned benefits of capsule intake are responsible for the significant global demand for empty capsules in the pharmaceuticals, nutraceutical, and cosmeceutical sectors. Increasing R&D efforts and clinical studies, innovations in capsule delivery methods, and quick advancements in capsule administration technology are also likely to fuel market expansion.
However, growing raw material prices and cultural and religious concerns about the ingestion of capsules comprising animal-derived inactive components, such as swine and bovine collagen capsule shells, are limiting factors for the market's growth.
US Empty Capsules Market is poised to grow at a sustainable CAGR for the next forecast year.
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Product ID: SQMIG35I2145