Globally, supply and demand for medicinal empty capsules are well-matched. According to statistics, the global production and sales demand for medicinal empty capsules is primarily concentrated in the Asia-Pacific, European, and American regions. Among these, the Asia-Pacific region accounts for the largest share of demand at 35%, followed by Europe at 32%, and the Americas at 32%, with the Middle East and Africa accounting for 5%.
In terms of production capacity, the Asia-Pacific region is also the largest, accounting for 35%, followed by Europe at 34%, and the Americas at 28%, with the Middle East and Africa at 3%.
As the market size of China's pharmaceutical excipient industry has grown, it has driven the year-by-year growth of the domestic empty capsule market. The market value increased from RMB 5.342 billion in 2017 to RMB 6.834 billion in 2021, demonstrating a positive development trend in China's empty capsule industry.
Currently, China has become a major global production base for empty capsules. According to data, China's output of empty capsules reached approximately 617.7 billion units in 2021, a recent high. In the future, as Chinese manufacturers grow and increase their market share, production is expected to continue its upward trajectory.
With the acceleration of China's population aging, the demand for capsule-based medicines domestically has been steadily increasing, which in turn has driven the growth of the domestic empty capsule market. The market has maintained a relatively stable growth rate, rising from 425.8 billion units in 2017 to 487.6 billion units in 2021, representing a Compound Annual Growth Rate (CAGR) of 3.45%.
China's exports of gelatin capsules far exceed its imports. From 2015 to 2022, China's gelatin capsule exports showed a year-on-year growth trend, making it an increasingly important supplier in the international capsule market. According to data, in 2022, China exported 83,543.9 tons of gelatin capsules, valued at USD 217.666 million. As of February 2023, the export volume was 9,531.7 tons, with an export value of USD 23.783 million.
Looking at China's export destinations for gelatin capsules, the United States is the primary market. Statistics show that 29,842 tons of gelatin capsules were exported to the US in 2022. The second-largest destination was the Netherlands, with an export volume of 6,761 tons, followed by Russia with 3,327 tons.
As the population ages, the demand for various types of pharmaceuticals in China is increasing. In terms of production, China's medicinal empty capsules not only meet domestic demand but are also rapidly expanding into overseas markets. The global empty capsule industry is highly concentrated.
Medicinal empty capsules are a crucial pharmaceutical excipient. China's healthcare consumer market is vast, and against the backdrop of a growing aging population, the market for medicinal empty capsules has significant room for growth. After years of development, China has become a major producer of medicinal empty capsules. However, limited by technology and innovation capabilities, domestically produced capsules have room for improvement in terms of quality and technological sophistication. In the future, China's empty capsule market urgently needs to move towards high-end, high-value-added development.
