The empty capsules market was valued at approximately USD 2,301 million in 2020, and it is expected to witness a revenue of USD 3,590 million in 2027, with a CAGR of 7.5% over the forecast period, 2021-2027. Empty capsules are made up of gelatin, derived from the animal protein (such as pork skin, fish bones, and animal skin and bones) and plant polysaccharides (HPMC, pullulan, starch etc.). Empty capsules contain two parts namely a lower diameter or body filled with the various drugs and sealed with higher-diameter or cap. Various prescribed and OTC drugs, herbal drugs, and nutritional substances can be dispensed by filling in the empty capsules. Apart from this, empty capsules are also used to fill semi-solid and liquid dosage forms, especially for the drugs which have poor bioavailability, critical stability, poor water solubility, and low melting points etc. The advantages of the empty capsules are that they are low sensitive to oxygen permeability and have constant capsule dimensions. Global empty capsules market is in the developed stage with the availability of both gelatin and non-gelatin based capsules. Several local and international players are manufacturing the empty capsules with technological advancements such as enteric coated and extended-release capsules, which release the drug for a long time. The usage of capsules is increased owing to its advantages such as taste and odour masking ability of the drugs and protect the drug from unfavourable atmospheric conditions. Acquisitions and mergers, collaborations, technological advancements, and diversification of business segment around the globe are some strategies followed by the companies to increase their revenue in the empty capsules market. For instance, in December 2016, Lonza Group AG has acquired the Capsugel from the KKR & Co LP for broadening its product range.