DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Empty Capsules Market Analysis By Product, By Therapeutic Application, By End-user And Segment Forecasts To 2024" report to their offering.
The global empty capsules market is expected to reach USD 2.57 billion by 2024
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.
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.
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.
Key Topics Covered:
1 Methodology and Scope
2 Executive Summary
3 Empty Capsules Industry Outlook
4 Global Empty Capsules Product Outlook
5 Global Empty Capsules Market Therapeutic Application Outlook
6Global Empty Capsules Market, End UserOutlook
7 Global Empty Capsules Market Regional Outlook
8 Competitive Landscape
- ACG Worldwide
- JC biological technologies
- Capscanada Corporation
- Medicaps Ltd
- Patheon Ltd
- Roxlor LLC.
- Sunil Healthcare Ltd
- Nectar Lifesciences Ltd
For more information about this report visit http://www.researchandmarkets.com/research/g66shn/empty_capsules