Middle East and Africa Empty Capsules Market Size and Growth Analysis:
Empty capsules market is promised to have constant pace throughout the forecast period. In Middle East and Africa (MEA), the market is accounted to reach USD 234 million by 2023 and to grow at a CAGR of 8%. Empty capsules are made up of bio-based components which are used to fill medications to avoid taste of the drug. People generally insert the medicine into the empty capsule like herbs and other supplements.
Most commonly, they are efficient in storing herbs, powder and other form of medicine. These capsules are mostly made-up of vegetarian components and also can be extracted from the animal origin. Empty capsules production is legal in some countries where as it is restricted in some areas for the people safety. These capsules make better results for the people who prepare their own medicine naturally using herbs and minerals.
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Middle East and Africa Empty Capsules Market Drivers and Insights:
The growing prevalence for the self medication and also trend towards herbs medication are majorly propelling the demand of the market. The increasing sale of the pharmaceutical companies across the region is boosting up the demand for the empty capsules market in the Middle East and Africa.
However, fluctuations in the availability of the raw materials are raising the price of the final product, which is surely hampering the demand of the market. Stringent rules and regulations by government to approve the policies is straight forwardly restraining the growth of the market.
Increasing incidences of cardiovascular diseases due to change in lifestyles is prominently developing the growth opportunities for the market. The rise in the demand from the cosmetic industry is also factor bolstering the demand of the market to the extent.
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The Growth of the Pharmaceutical Industries Boosting the Growth of Middle East and Africa region
Regionally, Middle East and Africa region is accounted to have the dominant shares of the market owing to increased adoption of the empty capsules for self medications. With the increased number of pharmaceutical industries, the market is leading with the highest revenue shares. The rise in the chronic diseases and cardiovascular diseases are mainly surging the growth for the market to produce more number of capsules for the treatment. Increasing support from the government in funding to the pharmaceutical industries in concern towards the poor people is greatly impacting positive growth on the market.
Key Players Profiled in this Middle East and Africa Empty Capsules Market:
Capsugel, ACG Worldwide, Qualicaps, Suheung Co. Ltd., CapsCanada Corporation, Qingdao Yiqing Medicinal Capsules Co., Ltd., Shanxi Guangsheng Medicinal Capsules Co., Ltd., Healthcaps India Ltd., Snail Pharma Industry Co. Ltd., Roxlor, Sunil Healthcare Ltd., Medi-Caps Ltd., Nectar Lifesciences Ltd., Natural Capsules Ltd., and Bright Pharma Caps Inc. are some major players in the empty capsules market.
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