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The global softgel capsule market is proliferating, mainly due to the increasing personalization in medicine development. The growth of the dietary supplements market is getting led by the rising geriatric populace, increasing prevalence of various diseases prompted by the heady lifestyle and rising healthcare cost.Moreover, increased consumption of vitamin, and nutrition & supplement capsules escalate the market on the global platform. According to a leading research firm, Market Research Future (MRFR), the global softgel capsule market is estimated to touch a valuation of USD 3,276.00 MN by 2023. In its recently published research report, MRFR also asserts that a CAGR of 5.46% throughout the forecast period (2018-2023).
softgel capsule market Rapid expansion of the pharmaceutical sector, alongside increased healthcare expenditure, has opened new avenues for market players. Besides, regulatory and technological advances are leveraging the benefits of large-scale manufacturing with a high degree of flexibility for personalization, in turn, fostering the market growth. Additional factors, such as increasing personalization of therapies and substantial investments made in R&D for innovations to accelerate the production flow, are supporting the growth of the market.
Global Softgel Capsule Market – Segmentation
The report is segmented into three key market dynamics to widen the scope of understanding
By Type : Gelatin Type and Non-Animal Type.
By Application : Vitamins, Supplement, and Nutrition.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
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On the other hand, high manufacturing cost and complexity of production are some of the factors posing challenges for the growth of the market. Also, unclear regulatory policies in many countries are significant constraints for the growth of the global softgel capsule market. Nevertheless, multiplying numbers of pharma companies that can manufacture a softgel capsule at a high production rate are some of the major factors that would support the growth of the market by bringing the production cost down.
Softgel Capsule Market – Competitive Landscape
Key players leading the global softgel capsules market includes -
Patheon (part of Thermo fisher scientific)
Weihai Baihe Biology Technological Co. Ltd.
Catalent Inc.
Capsugel (a part of Lonza)
Captek softgel International Inc.
Amway
EuroCaps Ltd. (part of the DCC plc Group)
Sirio Pharma Co. Ltd.
Strides Pharma Science Limited
Soft Gel Technologies Inc.
International Vitamin Corporation
Softgel Capsule Market – Regional Analysis
North America leads the global softgel capsule market, accounting for the largest market share. The well-developed status and the highest GDP, worldwide, allows the North American region to hold an edge over other regions in terms of aspect, including technology and healthcare. Owing to the burgeoning precision medicines market, the region would retain its leading position throughout the forecast period.
Large technological advancements in the field of medical technology that has shifted the traditional manufacturing approach in the pharmaceutical industry to more customized manufacturing approach are supporting the growth of the market. Moreover, the presence of a well-established pharmaceutical sector and a massive pool of health-conscious consumers drive the regional market growth.
The softgel capsule market in the European region stands as the second-largest one on a global scale. The resurging economy in the region is playing an important role in the development of the market, allowing increased access to healthcare. Germany, heading with its advanced technology, contributes to the growth of the regional market hugely. Furthermore, the UK and France with the increasing investment in personalized medicines and pharmaceutical industry drive the regional softgel capsule market at a large scale.
The Asia Pacific softgel capsule market is emerging as a promising market, globally led by the rapidly improving economic conditions in the region. Besides, factors, such as substantial technological advancements, the burgeoning pharmaceutical industry, and rising demand for softgel capsules, foster the regional market growth.
Furthermore, a huge patient population that dictates the demand for quality healthcare in the rapidly developing countries, such as China, Japan, South Korea, and India, are expected to lead the market growth in the APAC region. China represents the largest share in the regional market, witnessing a sharp rise in sales of softgel capsules.
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Industry/Innovation/ Related News:
August 01, 2019 ---- Alvogen (the US), the pharmaceutical company announced that its subsidiary Lotus Pharmaceuticals has launched new Vinorelbine soft capsules in Europe. These softgel capsules are the generic version of Pierre Fabre Médicament’s Navelbine, indicated for the treatment of advanced non-small-cell lung cancer (NSCLC) and advanced breast cancer. Alvogen is the first to market with Vinorelbine softgel capsules.
Vinorelbine is already registered in twenty-three markets and now launched across Europe, including France, Germany, Spain, the UK, Italy, Romania, Portugal, and Hungary. The product is fully bioequivalent to Navelbine and has been fully developed in house by Lotus pharmaceuticals, an Alvogen subsidiary in Taiwan.
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