The global Liquid Filled Hard Capsules market size was estimated at USD 2.9 billion in 2021 and is expected to surpass around USD 4.8 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 7.9% during the forecast period 2022 to 2030.
Overview of Liquid Filled Hard Capsules Market
Liquid filled hard capsule refers to a technology that offers an advanced form of dosage in two different types—hydroxypropyl methylcellulose (HPMC) and gelatin—for multi-particulate, paste, semisolid, and liquid applications. Currently, pharmaceutical companies require various types of dosage forms and technologies with developed customized solutions in order to improve the method of delivery of products to specific areas of the body. Significant applications of liquid filled hard capsules are projected to boost the global liquid filled hard capsules market from 2022 to 2031. Demand for liquid filled hard capsules has increased substantially during the COVID-19 pandemic.
Report Scope of the Liquid Filled Hard Capsules Market
Rise in Commercialization of Gelatin Capsule-based Drug Delivery Systems to Drive Global Market
Gelatin capsules are better carriers owing to their capability to encapsulate lipophilic and hydrophilic drugs, and provide protection from degradation. These can act as efficient solubilizing matrices and offer better absorption rates. Gelatin-based immediate-release (IR), extended-release (ER), and delayed-release (DR) formulations perform better than traditional formulations, leading to improved efficacy and better patient compliance. These benefits are resulting in increased acceptance of gelatin-based capsules. This is drives the global liquid filled hard capsules market. Gelatin capsules derived from bovine, porcine, and marine sources have proven beneficial vis-à-vis other natural gelatin based on low toxicity, non-antigenicity, high stability, and high nutritional value parameters. Gelatin capsules exhibit high sustained release of various drugs, owing to their high adsorption capacity and high dispersion ability in the water.
Pharmaceutical Manufacturers Seizing Lucrative Opportunities in Canada
Companies are striving to bring over-the-counter drug manufacturing to North America. CapsCanada, a Lyfe Group company, announced the launch of new liquid filled hard capsule manufacturing service in North America. Liquid filled hard capsule manufacturers are increasing efforts to support the entire manufacturing process, right from formulation and development to full-scale production. Thus, companies are partnering with leading manufacturers of generic and branded drugs in Canada.
In order to increase revenue streams and bolster credibility, manufacturers in the liquid filled hard capsules market are striving to gain the approval of Health Canada, the department of the Government of Canada responsible for national health policy. Liquid filled hard capsule manufacturers in Canada are investing in fully analytical labs that conduct licensing for controlled drugs & substances, including narcotics, and a choice of blister or bottle packaging.
Technological Advancements and Rise in Preference to Drive Medium Capsules Segment
In terms of size, the global liquid filled hard capsules market has been classified into large capsules, medium capsules, and small capsules. The large capsules segment has been split into size 000 and size 00 & 00E. The medium capsules segment has been categorized into size 0 & 0E, size 1, and size 2. The small capsules segment has been segregated into size 3, size 4, and size 5.
The medium capsules segment is likely to witness strong growth due to the increase in usage of medium capsules with advanced technological development.
Liquid Filled Hard Capsules Addressing HPAPI Challenges
Based on application, the global liquid filled hard capsules market has been segmented into drugs, vitamins & mineral, amino acids, peptides & proteins, lipids, and others.
Highly potent or highly toxic active pharmaceutical ingredients (API) require specialized handling. Therefore, companies in the liquid filled hard capsules market are boosting their output capacities in hard-shell liquid fill capsules. Liquid filled capsule products continue to be seen principally as a mechanism to increase bioavailability for poorly soluble drugs. However, they have the potential to address low-dose HPAPI (highly potent API) challenges.
Encapsulated liquid based products offer a proven approach to overcome challenges associated with development, commercial manufacturing, and scale-up of highly potent APIs. These trends are translating into revenue opportunities for companies in the liquid filled hard capsules market. Liquid fill capsules enable the incorporation of an API powder into a liquid formulation, either as a solution or as a suspended solid.
Launch of New Therapeutics to Propel Pharmaceutical & Biopharmaceutical Companies Segment
In terms of end-user, the global liquid filled hard capsules market has been divided into pharmaceutical & biopharmaceutical companies, nutrition supplement manufacturers, and others.
Pharmaceutical & biopharmaceutical companies are increasingly investing in development and launch of new therapeutics. For instance, in 2018, 19 of the 59 novel approved drugs were considered first-in-class, 34 received orphan designation for treating rare diseases, and 24 received fast-track designation, as they are intended for serious conditions with unmet medical needs.
Regional Outlook of Liquid Filled Hard Capsules Market
North America accounted for the largest market share of around 37.8% in terms of revenue in 2021. The region is projected to dominate the global liquid filled hard capsules market during the forecast period. The market in North America is anticipated to grow at a CAGR of 7.9% from 2022 to 2030.
Europe is expected to be the second most lucrative market for liquid filled hard capsules during the forecast period. The region held 28% share of the global market in 2021. The market in the region is likely to grow at a CAGR of 7.8% during the forecast period.
Asia Pacific is anticipated to be the fastest growing market from 2022 to 2030. This can be ascribed to the shift in production bases of several global manufacturers to the region due to high unmet medical needs and untapped growth opportunities. Additionally, rapid economic development in emerging countries such as India and China and increase in healthcare expenditure are projected to augment the liquid filled hard capsules market in Asia Pacific.
Analysis of Key Players in Liquid Filled Hard Capsules Market
The global liquid filled hard capsules market is highly fragmented, with the presence of large number of players. ACG, Altasciences, CapsCanada Corporation, Erawat Pharma Limited, Farmacapsulas S.A., Fine USA Trading, Inc., HealthCaps India Ltd., Lefancaps, Lonza Group, PLx Pharma, Inc., QUALICAPS, and Roxlor are some of the key players operating in the market. These players have adopted various strategies such as geographical expansion, investments in building new manufacturing facilities for liquid filled hard capsules, and mergers & acquisitions to establish a strong distribution network.
Key Developments in Global Liquid Filled Hard Capsules Market
- On May 23, 2022, Lonza announced that it will invest in additional inhalation capabilities
- On May 09, 2022, Lonza expanded its Capsugel product offering with a titanium dioxide-free (TiO2-free) white hard gelatin capsule, fulfilling the evolving demand of its customers to meet new titanium dioxide-free requirements for foods in the European Union
- On February 08, 2021, Qualicaps Europe S.A.U. expanded its presence to South Asia, following its expansion in Middle East & Africa in 2020
Some of the prominent players in the Liquid Filled Hard Capsules Market include:
- ACG
- Altasciences
- CapsCanada Corporation
- Erawat Pharma Limited
- Farmacapsulas S.A.
- Fine USA Trading, Inc.
- HealthCaps India Ltd.
- Lefancaps
- Lonza Group
- PLx Pharma Inc.
- QUALICAPS
- Roxlor
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Liquid Filled Hard Capsules market
- Size
- Large Capsules
- Medium Capsules
- Size 0 & 0E
- Size 1
- Size 2
- Small Capsules
- Application
- Drugs
- Vitamins & Minerals
- Amino Acids, Peptides, and Proteins
- Lipids
- Others
- End-user
- Pharmaceutical & Biopharmaceutical Companies
- Nutrition Supplement Manufacturers
- Others
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Liquid Filled Hard Capsules industry analysis from 2022 to 2030 to identify the prevailing Liquid Filled Hard Capsules industry opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global Liquid Filled Hard Capsules industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Liquid Filled Hard Capsules industry trends, key players, market segments, application areas, and market growth strategies.
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