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Liquid Filled Hard Capsules Market Development Trends & Competitive Analysis by Leading Industry Players
Liquid Filled Hard Capsules Market: IntroductionAccording to the report, the global liquid filled hard capsules market was valued over US$ 2 Bn in 2020 and is projected to expand at a CAGR of ~8% from 2021 to 2031. 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. Presently, pharmaceutical companies require various types of dosage forms and technologies to come up with customized solutions in order to better the method of delivery of products to the specific areas of the body. The global liquid filled hard capsules market is expected to be driven by the growing pharmaceutical sector during the forecast period.
North America held a major share of the global liquid filled hard capsules market in 2020 due to the high demand for liquid filled hard capsules. Additionally, technological advancements drives the demand for liquid filled hard capsules, which is expected to augment the market in the region. The liquid filled hard capsules market in Asia Pacific is likely to expand at a high CAGR of 8% from 2021 to 2031 due to increase in acceptance of technological platforms across various fields
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Medium-sized Capsules to Dominate Global Market
In terms of size, the global liquid filled hard capsules market has been classified into large capsules, medium capsules, and small capsules. The medium capsules segment dominated the global liquid filled hard capsules market in 2020 and the trend is projected to continue during the forecast period. The large capsules segment has been split into size 000 and size 00 & 00E. The medium capsules segment has been segregated into size 0 & 0E, size 1, and size 2. The small capsules segment has been categorized into size 3, size 4, and size 5.
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Drugs Held Major Share of Liquid Filled Hard Capsules Market
Based on application, the global liquid filled hard capsules market has been categorized into drugs, vitamins & minerals, amino acids, peptides & proteins, lipids, and others. The drugs segment held major share of the global liquid filled hard capsules market in 2020. The increase in the demand for drugs drives the segment.
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Pharmaceutical & Biopharmaceutical Companies to be Most Promising End User
In terms of end user, the global liquid filled hard capsules market has been divided into pharmaceutical & biopharmaceutical companies, nutrition supplement manufacturers, and others. The pharmaceutical & biopharmaceutical companies segment held a major share of the global liquid filled hard capsules market in 2020.
North America to Dominate Global Market; Asia Pacific to Offer Significant Opportunities
The global liquid filled hard capsules market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
North America is anticipated to account for a leading share of the global liquid filled hard capsules market during the forecast period. The liquid filled hard capsules market in Asia Pacific is expected to grow at a rapid pace in the near future. India and China are likely to be lucrative markets for liquid filled hard capsules during the forecast period.
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Growth Strategies of Key Players
Key players operating in the global liquid filled hard capsules market are 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, Suheung, and Sunil Healthcare Limited, among others. These companies engage in research & development to develop novel products in order to expand product offerings and customer base.
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