[2021] Softgel Capsule Market will grow at 5.9% CAGR, to be valued at US$ 8,743.52 Million by 2027, Finds Coherent Market Insights

SEATTLE, April 14, 2021, (PHARMIWEB) — Global Softgel Capsule Market

Overview:

Softgel capsules (or soft gelatin capsules) are a solid capsule that surrounds a liquid or semi-solid center (inner fill). They consist of a gelatin based shell surrounding a liquid fill. Softgel shells are a combination of opacifier, water, gelatin, and a plasticizer such as sorbitol(s) and/or glycerin. It is a multivitamin product used to prevent or treat vitamin deficiency due to certain illnesses, poor diet, or during pregnancy. Moreover, these capsules can be used to improve bioavailability by delivering the drug in solutions or other absorption-enhancing media.

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Covid-19 Impact:

The emergence of COVID-19 in various countries around the world has affected the financial position of major players in the market. One of the areas affected by the outbreak of COVID-19 is the private healthcare sector. Moreover, the pandemic has impacted various aspects of the market, such as production, development, and drug supply, as well as affected the growth of various companies due to lockdowns implemented by many governments worldwide.

Drivers:

Increasing prevalence or incidence of heart disease, especially in North America, is expected to propel the global softgel capsule market growth over the forecast period. For instance, in 2019, according to American Heart Association, around 1,055,000 people in the United States suffered from coronary heart diseases.

Moreover, robust product pipeline, approval of new softgel capsules by regulatory bodies, and increasing demand for softgel capsule is expected to augment the growth of the global softgel capsule market. For instance, in June 2020, Aenova Group GmbH expanded its production capacities by expanding the production unit of Dragenopharm Apotheker Püschl GmbH, one of the subsidiaries of Aenova Group Gmbh and leading manufacturer of pharmaceuticals and dietary supplements in Tittmoning.

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Restraints:     

Low stability of softgel capsules with water-soluble compounds, as well as with compounds susceptible towards hydrolysis, is expected to hinder growth of the global softgel capsule market.

Regional Analysis:

North America is expected to witness significant growth in the global softgel capsule market due to the presence of several high-end manufacturers in the region. Major players are adopting various strategies, such as facility expansion, to increase production capacity in market. For instance, in October 2020, Catalent Inc. invested US$ 93 million to expand its overall production capacity of capsules within CHI’s Capsugel portfolio by manufacturing 30 billion capsules annually.

Market Taxonomy:

By Product Type:

• Gelatin Softgel Capsule
• Non-gelatin Softgel Capsule

By Source Type:

• Gelatin Type-A
• Gelatin Type-B
• Hydroxy Propyl Methyl Cellulose (HPMC)
• Others

By Application:

• Anti-inflammatory Drugs
• Antibiotic drugs
• Health Supplements
• Cardiovascular Drugs

By End User:

• Pharmaceutical Companies
• Contract Manufacturing Organizations

By Region:

• North America
• Latin America
• Europe: Germany
• Asia Pacific
• Middle East and Africa

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Key Players:

Major players operating in the global softgel capsule market are Catalent, Inc, Aenova Group GmbH, Sirio Pharma Company Ltd, Captek Softgel International Inc, Elnova Pharma, Fuji Capsule Co., Ltd., Capsugel, EuroCaps Ltd, Lotus Pharmaceuticals, Guangdong Yichao Biological Co., Ltd., Hunan ER-KANG Pharmaceutical Co Ltd, and KD Pharma Group.

Recent Developments:

In 2019, Lotus Pharmaceuticals launched Vinorelbine 20, 30, and 80 mg softgel capsule in Europe. Vinorelbine is the generic version of Pierre Fabre Medicament’s Navelbine that can be used for the treatment of breast cancer and advanced non-small cell lung cancer.

In 2018, Sirio Pharma signed Probiotic Strategy Cooperation Agreement (BC30) with the Kerry Group to drive the probiotic gummy texture softgel capsules sector in China.

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

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