The empty capsules market is anticipated to grow from US$ 6.75 billion in 2022 to US$ 12.52 billion by 2030; it is estimated to register a CAGR of 8.0% during 2022-2030.

Market growth is attributed to the flourishing nutraceutical and dietary supplement industries, and the continuously growing pharmaceuticals industry. Surge in demand for hard gelatin capsules are likely to provide growth opportunities for the empty capsules market. However, manufacturing complexities associated with empty capsules hinder the growth of the empty capsules market.

Empty capsules are made of gelatin, hydroxypropyl methylcellulose (HPMC), pullulan, and starch. These capsules can also be used to fill formulations that are used to treat acute and chronic diseases, cancer, and common diseases such as cold and cough. They are also used to package nutritional supplement formulations, antacid and anti-flatulence medications, and personalized medicines.

North America accounted for the second largest market share of the global empty capsules market in 2022. The North America empty capsules market is segmented into the US, Canada, and Mexico. The growth of the empty capsules market in the region is due to the increasing preference for capsule-based nutraceuticals, as these products have been studied to be effective in preventing serious health problems such as cancer, obesity, and arthritis. The rising cases of chronic diseases and diseases that are common in the geriatric population, especially in the US, can also be associated with the market growth in North America. As per the Population Reference Bureau's Population Bulletin: Aging in the US, the number of Americans aged 65 and above is anticipated to nearly double from 52 million in 2018 to 95 million in 2060. The US and Canada have well-developed, structured healthcare systems that encourage global market companies to enter these countries. As a result, these countries have the presence of numerous global market participants. The high demand for empty capsules is met by the global players present in the region.

Surge in Demand for Hard Gelatin Capsules to Provide Market Opportunities in Future

The hard gelatin capsules, such as those made of hydroxypropyl methylcellulose (HPMC), offer excellent protection against oxidation. Hard gelatin capsules are a modern dosage form used for medicinal purposes, owing to increasing emphasis on pharmacokinetics in the drug development process. This has expanded the range of possible formulations using hard gelatin capsules as a simple dosage form for oral drug administration. Modern capsule-filling machines can produce up to 200,000 capsules per hour and fill several different substances in one operation. Such developments further add to the popularity of hard gelatin capsules, which are preferred for new solid oral medications.

A range of manual, semiautomatic, and automatic filling machines are available to produce hard gelatin capsules. They allow the production of large and small capsules in bulk or in minimal quantities, often needed in community and hospital pharmacies. Multiple units in hard gelatin capsules allow filling formulations that combine different drug constituents, even if they are incompatible with each other, or if they have different release profiles. The latest scientific and technological developments in formulations result in preference for hard gelatin capsules for filling liquid and semi-solid formulations. Some advantages of hard gelatin capsules include improved content uniformity in low-dose products, prevention of cross-contamination during production, and reduced packaging costs due to the predefined dimensions of hard gelatin capsules.

Gelatin-based hard capsules are easier to swallow, and, at the same time, they protect the valuable active ingredients in capsules from oxygen, light, moisture, and dust. For manufacturers, hard capsules confer fast processing and setting times, perfect dissolution properties, and optimal protection for filled ingredients. Therefore, advancements in dosage forms have led to the increasing use of hard gelatin capsules in the pharmaceuticals industry.

Product Type -Based Insights

Based on product, the empty capsules market is divided into gelatin capsules and non-gelatin capsules. The gelatin capsules segment held a larger market share in 2022. The non-gelatin capsules segment is estimated to register a higher CAGR of 9.0% from 2022 to 2030.

Functionality -Based Insights

The empty capsules market, based on functionality, is segmented into immediate-release capsules, delayed-release capsules, and sustained-release capsules. The immediate-release capsules segment held the largest market share in 2022. It is further expected to register the highest CAGR of 8.5% during the forecast period. Monoplace hyperbaric chambers are small chambers used for hyperbaric oxygen delivery to a single patient. Patients usually enter these chambers while lying down. Multiplace systems are expensive and require trained personnel for maintenance and operation. These devices are suitable for many patients with different medical conditions, and they make it easier for medical staff to monitor the signs and symptoms of each patient. The key unique selling point (USP) of multiplace chambers is that they enable longer treatment times. Commonly used and commercially available multiplace systems include the OxyHeal 5000 rectangular multiplace hyperbaric chamber, the OxyHeal 4000 multiplace hyperbaric chamber, and the decompression hyperbaric chamber.

Application -Based Insights

Based on application, the hyperbaric oxygen therapy market is segmented into antibiotic and antibacterial drugs, vitamin and dietary supplements, antacids and antiflatulent preparations, and others. The antibiotic and antibacterial drugs segment held the largest market share in 2022. The vitamin and dietary supplements segment market is estimated to grow at the fastest CAGR of 8.9% from 2022 to 2030.

The marker growth of the vitamin and dietary supplements segment is ascribed to the growing geriatric population worldwide, resulting in the burgeoning demand for therapeutic drugs and nutritional supplements for better health outcomes. Since developing strong immunity plays a crucial role in fighting viral infections, the demand for immunity boosters such as vitamins and nutritional supplements is on the rise. Capsules are used to fill in these substances due to the significant preference for this solid oral dosage form.

End User -Based Insights

Based on the end user, the hyperbaric oxygen therapy market is segmented into pharmaceutical, nutraceutical, cosmetics, and research laboratories. The pharmaceutical industry segment held the largest empty capsules market share in 2022 and the same is anticipated to register the highest CAGR of 8.4% during 2022-2030.

Leading players are implementing strategies such as expansion, partnership, launch of new products, and acquiring a new customer base to tap prevailing business opportunities.

- In November 2022, Lonza launched Enprotect capsules to deliver ingested acid-sensitive active pharmaceutical ingredients (APIs).

- In July 2022, Sunil Healthcare Limited reported an improvement in its export revenue by 25.0% in FY2022, with better profitability and operating margins obtained from HPMC capsules.

- In May 2022, Lonza expanded its Capsugel offering by including titanium dioxide-free (TiO2-free) white hard gelatin capsules to address the elevating demand in the European Union.

- In March 2021, CapsCanada launched a new liquid-filled hard capsule manufacturing service in North America to support the manufacturing process through formulation and development stages to serial production.

- In June 2020, Lonza introduced DBcaps (double-blind capsules), an HPMC capsule that was designed to address the challenges associated with clinical trials.

The US Food and Drug Administration, Centers for Disease Control and Prevention (CDC), and Global Burden of Disease Study, European Commission, are among the primary and secondary sources referred to while preparing the hyperbaric oxygen therapy market report.