Two-piece Empty Hard Capsule Market is Set to Register at a CAGR of 7.32% During Forecast to 2023
Market Synopsis:
Two-piece hard capsules ensure effective and efficient personalization and precision to patients. It is likely to gain traction in the foreseeable future owing to the developments in the healthcare services. As per the analysis offered by Market Research Future (MRFR), the global two-piece empty hard capsule market is set to register a CAGR of 7.32% during the projection period 2018 to 2023.
These capsules have gained popularity due to its key advantage of accurate dose management. In addition, it is also popularamongpatients who find it difficult to take tablets. Thus, the pharmaceuticals companies are shifting towards it which is projected to support the growth of the two-piece empty hard capsule market over the next couple of years.
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Healthcare sector is observing an upswing which has intensified the demand for medical facilities across the world. It is anticipated to have a positive impact on the growth pattern of the two-piece empty hard capsule market in the years to come. In addition, the changes in food pattern in conjunction with the adoption of a sedentary lifestyle has been prognosticated to boost the market growth across the assessment period.
Capsule suppliers are focusing on increasing its production capacity which is poised to favor the proliferation of the two-piece empty hard capsule market in the foreseeable future. On the contrary, the stringent regulations pose a challenge to market expansion pace in the forthcoming years.
Competitive Dashboard:
Market Segmentation:
The report covers a segmental analysis of the Two-Piece Empty Hard Capsule Market based on raw material and end-user. By raw material, the global market has been segmented into gelatin, hydroxypropyl methylcellulose (HPMC), starch, and pullulan.The gelatin segment has gained the maximum popularity owing to its low cost coupled with protein content. At present, it accounts for the largest market share of 45.5% and is presumed to hold its position through the forecast period. In addition, the hydroxypropyl methylcellulose (HPMC) is projected to gain popularity in the forthcoming years and exhibit a relatively higher CAGR over the assessment period.
The two-piece empty hard capsule market, by end-user, has been segmented into pharmaceuticals, health & nutrition and others.Among these, the pharmaceuticals segment is currently leading the growth of the market and accounts for 48.90% share of the market. It is forecasted to maintain its position in the upcoming years.
Regional Analysis:
The geographical assessment of the global two-piece empty hard capsule market covers Americas, Asia, Europe, and the RestoftheWorld (RoW). The market is dominated by North America owing to the availability of advanced healthcare facilities in conjunction with the presence of major pharmaceutical companies. Also, the region is technologically advanced which is anticipated to reflect on the growth trajectory of the two-piece empty hard capsule market in the region.
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Europe houses a considerable proportion of pharmaceuticals and nutraceutical companies which is projected to favor the growth of the regional two-piece empty hard capsule market. Increasing healthcare expenditure in the region is also forecasted to lead the expansion of the market.
Asia Pacific is prognosticated to scale the highest CAGR during the forecast period. The consolidation of fast-developing nations in the region is poised to aid the growth of the two-piece empty hard capsule market.
Industry News:
In February 2019, researchers at M.I.T., Harvard have collaborated with a multinational pharmaceutical company, Novo Nordisk A/S (Denmark),announced the launch of Soma,a tiny robotic capsule that injects when it lands in the stomach.