Rockville, July 18, 2023 (GLOBE NEWSWIRE) -- According to a study, released by Fact.MR, global softgel capsules market sales are expected to grow at a CAGR of 6.3% and reach US$ 2.16 billion by the end of 2033. In 2023, the market is worth $1.17 billion.
It is anticipated that the pharmaceutical industry would increasingly adopt softgel capsules to treat inflammatory, cardiovascular, and other disorders. These diseases are expected to become more common, and improvements in manufacturing methods are expected to create attractive new opportunities for industry players.
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Emerging industry companies have been heavily spending in R&D projects in response to the rising prevalence of cardiovascular disorders. It is anticipated that the growing interest in using softgel capsules for vitamin and mineral supplements would have a positive impact on the industry.
Key Driving Forces Accelerating the Market Growth
- There has been a significant increase in health and wellness awareness among consumers in various geographies. As people become more health-conscious and seek preventive healthcare measures, the demand for dietary supplements, nutraceuticals, and herbal products has surged.
- For instance, the demand for soft gel capsules is expected to rising cases of cardiovascular diseases in the US. For instance, American Heart Association published a report entitled “2021 Heart Disease and Stroke Statistics Update” on January 27, 2021. The demand for soft gel capsules is due to rising cases of cardiovascular diseases in the US.
- The pharmaceutical industry's growth in North America has positively influenced the soft gel capsules market. Soft gel capsules are widely used for delivering various drugs, including over-the-counter (OTC) medications.
- Soft gel capsules are easy to swallow, have a smooth texture, and are free of the bitter taste often associated with certain ingredients. This ease of consumption appeals to consumers who have difficulty swallowing traditional tablets or capsules, such as children, elderly individuals, and individuals with medical conditions.
- Soft gel capsules are known for their superior bioavailability compared to some other solid dosage forms. They provide an excellent option for delivering fat-soluble nutrients and other sensitive ingredients, protecting them from degradation in the gastrointestinal tract and promoting efficient absorption in the body.
Vital indicators shaping the future of the industry
Ongoing research and technological innovations play a significant role in shaping the future of the soft gel capsules industry. Advancements in soft gel encapsulation technology, such as improved filling methods, novel excipients, and innovative gelatin alternatives, can enhance production efficiency, reduce costs, and lead to the development of new soft gel formulations.
The increasing demand for nutraceuticals and dietary supplements as part of preventive healthcare and wellness regimens is a vital indicator shaping the future of the industry. Soft gel capsules are a popular choice for encapsulating vitamins, minerals, herbal extracts, and other bioactive compounds, contributing to the overall market growth.
The pharmaceutical industry's continued adoption of soft gel capsules for delivering drugs is a significant indicator influencing the industry's future. Soft gel capsules are widely used to improve the bioavailability of poorly soluble drugs and enhance patient compliance.
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Challenges hindering the market growth
- The soft gel capsules market in North America is highly competitive, with numerous manufacturers vying for market share. Intense competition can lead to price pressures and reduced profit margins, making it challenging for companies to maintain profitability.
- The soft gel capsules market, like other pharmaceutical and health-related industries, is susceptible to product counterfeiting. Counterfeit products not only pose significant health risks to consumers but also erode trust in legitimate brands, hindering market growth.
Competitive Landscape
Various key noteworthy initiatives were taken by key players to expand their footprints across the globe. Moreover, key players are focusing on supply chain management systems and maintaining product standards.
- For instance, in 2022, Aenova started a new structure at its Regensburg location for some highly potent active substances. Moreover, these modern manufacturing facilities offer extremely efficient pharmaceuticals, especially for cancer.
Key Companies Profiled
- Fuji Capsule Co.
- Aeniva Group GmbH
- Sirio Pharma Biological Limited
- EuroCaps Ltd.
- Catalent, Inc.
- Guandong Yichao Biological Co., Ltd.
- Captek Softgel International Inc.
- Soft Gel Technological Inc.
- Hunan Er-Kang Pharmaceutical Co.
- Curtis Health Caps
- United Labs
- Procaps
- Elnova Pharma
- Patheon
- Delpharm Evreux
Check out more related studies published by Fact.MR Research:
Powder-Filled Hard Gelatin Capsules Market: Expanding expectations towards medical services framework and innovative work exercises for hard gelatine Capsules is attributed to support the worldwide powder-filled hard gelatine capsules market development.
Geriatric Medicines Market: Sales of geriatric medicines will reach US$ 768 Mn by the end of 2021. As per the report, geriatric medicines for cardiovascular ailments will account for 45% revenue until 2031.
Herbal Drugs Market: Herbal Drugs are the medicines which are derived from the plant extract, roots, leaves or flowers. Herbal drugs are basically are a type of dietary supplements. The culture of herbal drugs is very ancient and it comes from Chinese tradition.
OTC Herbal and Traditional Medicines Market: Skilled analysts at Fact.MR, a market research and competitive intelligence provider, have recently released a revised analysis on the global OTC herbal and traditional medicines market, which is slated to rise at a CAGR of 4% over the decade.
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