The empty capsules market is projected to reach USD 4.9 billion by 2028 from USD 3.2 billion in 2023, at a CAGR of 9.3% during the forecast period. The growth of this market is mainly driven by increasing demand of dietary nutraceuticals. Furthermore, advancements in capsules delivery technologies, and benefits of capsules over other dosage forms is likely to contribute to market growth in coming years.
The prominent players operating in the empty capsules market are Capsugel (US), ACG Worldwide (India), Qualicaps (US), CapsCanada Corporation (Canada), Suheung Co. Ltd. (Korea), and Natural Capsules (India).
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Capsugel (US) is one of the leading players in the empty capsules market in 2022. The company’s leading position is attributable to its diversified product portfolio, strong geographic presence, and adoption of organic and inorganic growth strategies. The company has focused on new product launches, to maintain its leading position in the empty capsules market. For example, in November 2022, the company launched Enprotect, an intestinal (enteric) drug delivery capsule, which targets small molecules, proteins, peptides and RNA-based therapeutics.
ACG Worldwide (India)
ACG Worldwide is one of the leading players in the empty capsules market. It offers specialty empty hard capsules. The company has a wide geographical footprint and is further expanding its network across the globe. The company has focused on launches of new products in various sizes & customization options to increase the share in empty capsules market. For instance, in March 2021, ACG launched the ACGcaps TSafe and ACGcaps NTone capsules, used in the nutraceutical market.
Empty Capsules Market by Type (Gelatin, Non-gelatin), Functionality (Immediate-release, Sustained-release, Delayed Release), Therapeutic Application, End User (Pharmaceutical, Nutraceutical, Cosmetic, Reference Laboratories) - Global Forecast to 2028
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