With A 5.5% CAGR, Softgel Capsules Market 2023 Size Will Reach USD 9.59 billion in 2027

Softgel Capsules Market Outlook 2023: Market Trends, Segmentation, consumption by Regional data, Market Growth and Competitive Landscape

In 2020, themarket for softgel capsuleswas worthUSD 6.52 billion.The COVID-19 pandemic has had an unprecedented and staggering impact on the world, with soft gelatin capsule demand experiencing a positive shock in every region. According to our analysis, the global market will grow significantly (19.2%) in 2020 compared to the average annual growth during 20172019. The market is anticipated to increase at aCAGR of 5.5%between 2021 and 2027, rising fromUSD 6.94 billionin 2021 toUSD 9.59 billionin 2027. When the pandemic is over, the market's demand and growth will resume to pre-pandemic levels, which explains the abrupt drop in CAGR.

Key Industry Developments:

July 2021 - The Aenova Group announced the commencement of a new canning and bottling line for soft gelatin capsules at Cornu, Romania. It will expand the capacity of the packaging department with cans and bottles and establish itself as a one-stop shop for the production and packaging of soft capsules in all common variants.

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Drivers and Restraints-

Urgent Need to Determine Effectiveness of Drugs will Spur Growth

Several pharmaceutical companies nowadays are trying to determine the effectiveness of softgel capsules and hence, are conducting clinical trials. InnoPharmax Inc., for instance, sponsored a study in August 2018 to evaluate the tolerability and safety of D07001 softgel in patients who have received the first line of combined chemoradiotherapy (CCRT) or chemotherapy for locally advanced biliary tract cancer (BTC) or unresectable metastatic cancer. Similar other clinical studies would also boost the softgel capsules market growth in the near future. However, the development of generics owing to the patent expiration of crucial drugs may hamper growth on account of greater competition.

Ayanda Receives Patent for Probiotic Softgel Capsules to Enhance its Capabilities

In April 2019, Ayanda, a leading provider of pharmaceutical products, announced that it bagged a European patent for these capsules. These capsules will be able to contain at least one type of oil, such as Omega 3 and active probiotic bacteria. As per one of the company officials, “This is a breakthrough in our ability to offer and produce a state-of-the-art probiotic dosage form. It would help us enhance our probiotic capabilities in powder sticks, tablets, and hard capsules.

Report Coverage-

This report includes authentic data related to transformation in material usage, unique product launches, and recent advancements. It provides market dynamics based on numerous factors, such as opportunities, challenges, drivers, obstacles, and dynamics. Also, it would offer complete insight from the supply-side respondents related to share, distribution, and size of this industry.

Regional Insights-

Surging U.S. FDA Approvals for Unique Products to Help North America Dominate

• North America: The market stood at USD 2.29 billion in 2020 in terms of revenue. The rising target of various companies to gain approvals from the U.S. FDA is expected to aid growth. Also, the increasing launch of innovative products would propel regional growth.
• Europe: The region is estimated to earn a considerable share throughout the forthcoming years because of the ongoing investments in RandD activities to introduce novel softgel capsules.
• Asia Pacific: It is anticipated to exhibit the highest CAGR on account of the rising interest of companies to expand their footprint in niche areas of the region. Besides, the rising patient pool suffering from various chronic disorders would augment growth.

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Competitive Landscape-

Fast-track Approvals and New Product Launches— Vital Strategies of Key Companies

The global market has only three leading companies, out of which, Catalent, Inc. and Capsugel (Lonza) account for the maximum share. They are majorly aiming to remain dominant through new product launches and fast-track approvals. At the same time, many companies are striving persistently to develop their manufacturing processes technologically to attract more consumers. Below is one of the latest industry developments:

• October 2019: Sirio Pharma launched a new range of plant-based solutions for its entire offering of liquids, gummies, powders, softgel capsules, tablets, and hard shell capsules. Gummies would contain pectin instead of gelatin, while soft gelatin capsules would have red algae.

List of Key Players in the Softgel Capsules Market:

• Capsugel (Lonza) (New Jersey, U.S.)
• Sirio Pharma Co., Ltd. (Guangdong, China)
• Catalent, Inc (New Jersey, U.S.)
• Aenova Holding GmbH (Munich, Germany)
• Fuji Capsule Co., Ltd. (Shizuoka, Japan)
• CAPTEK Softgel International Inc. (California, U.S.)
• Curtis Health Caps (Wielkopolskie, Poland)
• EuroCaps Ltd (South Wales, UK)
• Other prominent players

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