The North America Empty Capsules Market was worth $502.09 million in 2016 and estimated to be growing at a CAGR of 5.8%, to reach $665.9 million by 2021.
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The market is showcasing evident potential in the forecast period.
Empty Capsules are generally made from Gelatin, which is derived from plant or animal origin. These are used as dosage form for prescription and OTC drugs, nutrient supplements and herbal products.
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However increasing raw material costs, stringent regulatory approval policies and cultural issues concerned with the consumption of capsules containing animal derived ingredients are hindering the market growth.
Get a comprehensive overview of the North America Empty Capsules Market:
North America Empty Capsules market is segmented into product, therapeutic application and End User. Based on product the market is further sub-segmented into Gelatin Capsules and Non-Gelatin Capsules.
On the basis of therapeutic application global market for Empty capsules is segmented as Antibiotic and Antibacterial Drugs, Antacid and Antiflatulent Preparations, Anti anemic Preparations, Anti-Inflammatory Drugs, Cardiovascular Therapy Drugs, Dietary Supplements and Vitamins, Cough and Cold Preparations and other therapeutic applications. By End User the market is segmented into Pharmaceutical Industry, Cosmetics Industry, Nutraceutical Industry and Research Laboratories.
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Gelatin Capsules is the largest product segment accounting for a share of approximately 80% whereas Non-Gelatin capsules is estimated to be the fastest segment with a CAGR of XX% due to increasing preference for vegetable origin capsules.
Based on geography North American market for empty capsules is segmented into two major regions namely United States and Canada. North America is the largest market for Empty capsules.
Within North America, United States is the largest market due to rising consumer awareness
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