Gelatin Softgel Capsules to Exhibit Significant Demand Growth through 2031: Fact.MR
Published : 30 Mar 2021 Industry: Healthcare
Softgel capsules, used for medication to treat cardiovascular diseases, have gained rapid popularity in the pharmaceutical sector over the past years. While the outbreak of COVID-19 took a toll on industry players, growing usage in health supplements, antacids, and medicines for bacterial infections has been catering to industry recovery since the last quarter of 2020.
According to Fact.MR, the global softgel capsules market is expected to thrive on a wide variety being offered by manufacturers, while increasing prevalence of cardiovascular and inflammatory diseases will further fuel the sales of suppliers over the coming years. According to the report, North America will have a major share of the global industry value, while Asia Pacific will register the most impressive growth. In a nutshell, rising adoption in diverse applications, starting from vitamin supplements to medicines, coupled with heavy investments by industry players, will cater to industry growth during the forecast period of 2021 to 2031.
Key Takeaways from Market Study
- The global softgel capsules market is forecast to expand at around 5.5% CAGR through 2031
- High demand for gelatin softgel capsules to propel market growth
- Usage for anti-inflammatory drugs to fuel sales
- Growing application in pharmaceutical sector to favor industry players
- The United States remains at the forefront of the world’s largest softgel capsules industry - North America
- The market in Germany to maintain its lead in Europe
- China remains the epicenter of the Asia Pacific market
- The United Kingdom, Japan, Canada, France, India, and a few other countries to substantially cater to global industry growth
“With rise in application in the pharmaceutical industry, softgel capsule manufacturers are focusing on developing a flurry of products such as gelatin type-A, gelatin type-B, and hydroxy propyl methyl cellulose (HPMC), to name a few,”
says a Fact.MR analyst.
How is Prevalence of Cardiovascular Diseases Pushing the Demand-Supply Graph for Softgel Capsules?
Various type of gelatin and non-gelatin softgel capsules are extensively used in cardiovascular disease medication, and hence, rise in cases is the demand from the healthcare and pharmaceutical sector.
According to a report titled “Heart Disease Facts”, published by CDC on 8th September 2020, one person dies every 36 seconds in the United States from cardiovascular disease. As stated in the report, around 655,000 Americans die from heart disease each year, which is 1 in every 4 deaths, while heart disease costs the United States around US$ 219 billion yearly.
As per the “European Cardiovascular Disease Statistics 2017”, published by the European Heart Network, each year, cardiovascular disease (CVD) causes 3.9 million deaths in Europe and over 1.8 million deaths in the European Union (EU).
These figures represent increasing demand for softgel capsules from the medical sector.
Who is Winning in this Space?
The market is highly competitive and thriving on the revenues of top players. In order to leverage the lucrative growth scope, key players are diversifying their products.
- Elnova Pharma launched its new range of Elnova Soft Gelatin Medicines for diverse usage as vitamins, nutrition, food supplements, and others, a couple of years back.
- Aenova Group GmbH launched its new VegaGels®, dry powder inhalation capsules, soft gelatin capsules, and others, during the last 5 years.
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the softgel capsules market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (gelatin softgel capsules and non-gelatin softgel capsules) and application (pharmaceutical and healthcare), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
Fact.MR’s Domain Knowledge on Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Healthcare