PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1475838
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1475838
Global Pharmaceutical Gelatin Market is valued at approximately USD 1.21 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2023-2030. Pharmaceutical Gelatin is a protein derived from collagen, typically obtained from animal sources such as bones, skin, and connective tissues. It is commonly used as a key ingredient in the production of various pharmaceutical products, including capsules, soft gels, tablets, and other dosage forms. The Pharmaceutical Gelatin market is expanding because of factors such as the growing prevalence of chronic illnesses and the expansion of the pharmaceutical industry. Pharmaceutical Gelatin's ability to form a stable gel matrix makes it suitable for encapsulating and delivering medications orally. As a result, the demand for Pharmaceutical Gelatin has progressively increased in the international market during the forecast period 2023-2030.
Patients with chronic illnesses often require long-term medication regimens. Gelatin-based capsules and soft gels are preferred by many patients due to their ease of swallowing, smooth texture, and taste-masking capabilities. Improved patient compliance and adherence to prescribed medication regimens can contribute to better management of chronic conditions, further driving the demand for gelatin-based pharmaceutical products. According to the United Nations report, chronic diseases are anticipated to account for 70% of all global fatalities, while the global disease burden will be 56% by the year 2030. The most significant growth is expected in the African and Eastern Mediterranean regions. Furthermore, gelatin is a versatile excipient that can be used in various pharmaceutical formulations due to its unique properties such as gelling, thickening, and stabilizing abilities. It is particularly well-suited for the encapsulation of both solid and liquid drugs, making it a preferred choice for pharmaceutical companies developing treatments for chronic illnesses. Another important factor that drives the Pharmaceutical Gelatin market is an expansion of the pharmaceutical industry. The pharmaceutical industry fosters a conducive environment for the growth of pharmaceutical gelatin by driving demand for gelatin-based pharmaceutical dosage forms, encouraging innovation in drug delivery technologies, and expanding manufacturing capabilities across the world. In addition, as per the European Federation of Pharmaceutical Industries and Associations, in 2021 North America accounted for 49.1% of world pharmaceutical sales compared with 23.4% for Europe. Gelatin-based drug delivery systems, such as softgel capsules, microspheres, and nanoparticles, are gaining popularity due to their ability to enhance drug solubility, bioavailability, and controlled release profiles. Moreover, technological advancements in gelatin-based pharmaceuticals and increasing government healthcare expenditure are anticipated to create a lucrative growth opportunity for the market over the forecast period. However, the availability of alternative formulation ingredients and fluctuations in the prices of raw materials are going to impede overall market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Pharmaceutical Gelatin Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing approvals of prescription drug products in the region. Increased prescription medicine approvals indicate that the pharmaceutical sector is continuing to conduct research and development operations. This R&D frequently entails investigating drug formulations, combination medicines, and delivery technologies. Gelatin's features, such as biocompatibility, biodegradability, and ease of processing, make it an appealing choice for formulators seeking to innovate in drug development. According to the U.S. Food and Drug Administration, there are over 20,000 prescription drug products approved for marketing. In addition, as per the Health Policy Institute, more than 66% of all adults in the United States use prescription drugs. The region's dominant performance is anticipated to propel the overall demand for Pharmaceutical Gelatin. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as increasing healthcare expenditure in the region. Increased healthcare spending may result in the expansion of healthcare infrastructure, including hospitals, clinics, and pharmacies. This expansion can lead to a higher volume of drug production and consumption, consequently increasing the demand for pharmaceutical gelatin.
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable