Pharmaceutical Gelatin Market
The Pharmaceutical Gelatin Market is expected to grow at a robust CAGRE during the forecast period (2020-2027).
The factors driving the growth of Pharmaceutical Gelatin Market includes growing demand for gummy supplements and beverages, increasing cases of chronic illness and rising geriatric population around the world. As per the report published by World Health Organization (WHO), the population aged 60 years and above is expected to rise from 1 billion in 2020 to reach 2.1 billion by the end of 2050 and the portion of population aged 80 years and above will triple during 2020 and 2050 to reach around 426 million. The rapid expansion in the Pharmaceutical and Nutraceutical industries and increasing consciousness amongst consumers about consuming nutrition rich food, are some of the additional factors supplementing the market growth. In addition, the increasing use of pharmaceutical gelatins for drug manufacturing and rising investments on research and development, are expected to play a key role in the overall market growth.
However, the growth of Pharmaceutical Gelatin Market is hindered due to high cost of gelatin and increasing vegan population.
The major players operating in the market are Roxor LLC and Nitta Gelatin Inc., CAPSUGEL, GELITA AG, Rousselot SAS, Norland Products, WEISHARDT, Catalent Pharma Solutions, PB Gelatins, Weishardt Group and Sterling Gelatin among others.
Function – Segment Analysis
Based on function, the thickening agent segment is expected to capture a sg9nficant CAGR during the forecast period attributed to its increasing application in syrups, antibiotic creams, lotions and exils and other liquid forms.
Application – Segment Analysis
As per the Pharmaceutical Gelatin Market Global Forecast, the soft capsules segment is projected to grow at a remarkable CAGR over the forecast period. The soft capsules provide high degree of reproducibility, and it is patient friendly in nature, which are some of the major factors supplementing the growth of the segment.
Regional – Segment Analysis
Based on region, the Asia-Pacific region is predicted to expand at significant CAGR during the forecast period owing to the increasing economic activities in India, China, Indonesia and Japan and rapid growth in the pharmaceutical industry. According to IBEF, India's exported pharma products worth USD 24.62 billion IN 2021, and its current share in the Global Pharmaceutical and Drugs Market 5.92%., which is expected to boost the market growth in the approaching years in the Asia-Pacific region.
Global Pharmaceutical Gelatin Market by Function
- Gelling Agents
Global Pharmaceutical Gelatin Market by Source
- Pig Skin
- Bovine Hides
Global Pharmaceutical Gelatin Market by Application
- Hard Capsules
- Soft Capsules
- Micro Encapsulation
- Absorbable Hemostat
Global Pharmaceutical Gelatin Market by Region
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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