The empty capsules market is forecast to increase by $1.10B from 2021 to 2026, at a CAGR of 7.3%, according to a study by Technavio. The growth will be driven by the increasing applications in the pharmaceutical industry, technological advances in empty capsules, and the growing geriatric population.
Based on type, the gelatin capsules segment will account for a significant share of the market growth during the forecast period. Gelatin capsules offer convenient packaging that ensures reliable dosing, portability, and high consumer compliance. As these capsules are soft, breakdown of the film and absorption of the drugs can be achieved without any side effects. Gelatin capsules are widely used in medications and dietary supplements. These factors will drive the growth of the gelatin capsules segment during the forecast period.
North America will account for 37% of the market's growth during the forecast period. The US is the key contributor to the empty capsules market in the region. Moreover, market growth in North America will be faster than the growth of the market in the Rest of the World (ROW). Factors such as the demand for US FDA-approved generic medicines will drive the market's growth in the region during the forecast period.