North America Empty Capsules Market Research Report – Segmented By Product, Therapeutic Application, End User & Country (The United States, Canada and Rest of North America) – Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029)

Updated On: January, 2024
ID: 397
Pages: 136

North America Empty Capsules Market Size (2024 to 2029)

The empty capsules market in North America is expected to reach USD 861.4 million by 2029 from USD 649.5 million in 2024, growing at a compound annual growth rate (CAGR) of 5.81 % during the forecast period.

In North America, the pharmaceutical industry is rapidly growing. As the pharmaceutical sector in North America continues to expand in response to rising healthcare demands and ongoing advancements in medical research, the demand for empty capsules experiences a parallel upsurge.

Empty capsules are instrumental in drug encapsulation, offering a convenient and versatile solution for delivering various pharmaceutical formulations. The growing need for innovative drug delivery methods and increasing medication requirements of the aging population further fuel the demand for empty capsules and contribute to the North American market growth. Moreover, stringent regulatory compliance standards in the pharmaceutical sector emphasize the importance of high-quality empty capsules. This convergence of factors underscores the critical relationship between the pharmaceutical industry's growth and the expansion of the North American empty capsules market. Companies operating in this market must continue to adapt to the evolving demands of the pharmaceutical sector to capitalize on the opportunities presented by this growth.

Technological advancements have significantly reshaped the North American empty capsules market, leading to enhanced product quality and expanding capabilities. These advancements are particularly evident in the production process, with the introduction of more precise and efficient manufacturing techniques. These innovations not only streamline production but also ensure consistent quality, meeting stringent regulatory standards. Another pivotal aspect of these advancements is the development of specialized capsules tailored to specific formulations. Manufacturers now offer capsules designed to withstand various environmental factors, such as high-temperature and humidity conditions, ensuring the stability of sensitive pharmaceuticals or nutraceuticals. Moreover, the creation of specialized capsules enables customized drug delivery solutions, catering to the evolving demands of the healthcare industry. Furthermore, the utilization of advanced materials has revolutionized the market, allowing for increased compatibility with diverse formulations and improving overall product performance. These technological improvements collectively contribute to the growth and diversification of the North American empty capsules market, making it more adaptable to the evolving needs of the pharmaceutical, nutraceutical, and dietary supplement industries.

Raw material costs present a significant challenge in the North American empty capsules market.

The production of capsules primarily relies on materials like gelatin, which can be subject to price volatility. Fluctuations in material costs directly impact production expenses, potentially eroding profit margins for manufacturers. This cost sensitivity can limit market growth as manufacturers struggle to maintain competitive pricing while ensuring product quality. In recent years, there has been a shift towards alternative polymers, such as plant-based or cellulose-derived materials, to mitigate the dependency on animal-derived gelatin. While these alternatives offer sustainability benefits, they often come at a higher cost, which further pressures manufacturers. The need to balance cost-efficiency with sustainability poses a complex challenge for the industry. To navigate this restraint, manufacturers must employ innovative cost-control strategies, explore sustainable sourcing options, and invest in research to develop more cost-effective raw materials or production techniques. These efforts are crucial for sustaining the North American empty capsules market in the face of fluctuating raw material costs.

Impact Of Covid-19 On The North American Empty Capsules Market

The COVID-19 pandemic had a substantial negative impact on the North American empty capsules market. Lockdowns and disruptions in supply chains led to delays in production and distribution. As healthcare resources were diverted towards managing the pandemic, there was a slowdown in the pharmaceutical and nutraceutical industries, reducing the demand for empty capsules. The economic uncertainties stemming from the pandemic also led to cost-cutting measures among manufacturers, impacting their ability to invest in new product development and capacity expansion. Additionally, the focus on vaccine production and distribution diverted attention and resources away from other pharmaceutical products. On the positive side, the pandemic highlighted the importance of healthcare preparedness, boosting awareness and demand for dietary supplements and over-the-counter medications. Empty capsules are crucial for the encapsulation of these products, and this increased demand partially offset the negative impacts. The pandemic also accelerated the adoption of e-commerce channels for the purchase of healthcare and wellness products, providing new distribution opportunities for empty capsule manufacturers. Moreover, the lessons learned during the pandemic may drive further investments in research and development for improved drug delivery systems, benefiting the empty capsules market in the long term.

This research report on the North America Empty Capsules Market has been segmented and sub-segmented into the following categories.

North America Empty Capsules Market - By Product

  • Gelatin Capsules
  • Non-Gelatin Capsules

North America Empty Capsules Market - By Therapeutic Application

  • Antibiotic and Antibacterial Drugs
  • Antacid and Ant Flatulent Preparations
  • Anti-Anemic Preparations
  • Anti-Inflammatory Drugs
  • Cardiovascular Therapy Drugs
  • Dietary Supplements and Vitamins
  • Cough and Cold Preparations
  • Other Therapeutic Applications

North America Empty Capsules Market - By End User

  • Pharmaceutical Industry
  • Cosmetics Industry
  • Nutraceutical Industry
  • Research Laboratories

North America Empty Capsules Market - By Country

  • The U.S.
  • Canada

North America has historically been a dominant player in the global empty capsules market and the dominance is driven by the presence of a large pharmaceutical industry, a growing nutraceutical sector, and a strong focus on research and development. However, competition is also high, and regulatory standards are stringent.

The U.S. empty capsules market led the market in 2023 and is anticipated to account for the most significant share of the North American market during the forecast period.

In the U.S., the market for empty capsules is significant and primarily driven by the robust pharmaceutical and dietary supplement industries. The extensive pharmaceutical research and development and the growing aging population continue to foster a growing demand for empty capsules in the U.S. The presence of numerous pharmaceutical giants and a well-established regulatory framework emphasizes the importance of quality and innovation in capsule production.

The Canadian empty capsules market is expected to grow at a prominent CAGR during the forecast period. Canada boasts a burgeoning health and wellness sector, leading to an increased interest in dietary supplements and nutraceuticals. Canadian manufacturers are increasingly adopting advanced capsule manufacturing technologies to meet the evolving consumer preferences for encapsulated products.

KEY MARKET PLAYERS

Capsugel, ACG Worldwide, Suheung Co Ltd., Bright Pharmacaps Inc., Capscanada Corporation, Medi-Caps Ltd., Qualicaps, Roxlor, LLC, Snail Pharma Industry Co.Ltd. and Sunil Healthcare Limited are some of the notable players in the North America empty capsules market.

Please wait. . . . Your request is being processed

Frequently Asked Questions

What are the key factors driving the growth of the North America empty capsules market?

The growing demand for nutraceuticals, pharmaceutical innovations and rising awareness of health and wellness are driving the North American market growth.

What are the key players in the North America empty capsules market?

Capsugel, ACG Worldwide, and Qualicaps are some of the companies in the North American market. 

Which countries in North America contribute significantly to the empty capsules market?

The United States and Canada are the major contributors to the North America empty capsules market.

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1400

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample