Market Trends of Global Softgel Capsules Industry
This section covers the major market trends shaping the Softgel Capsules Market according to our research experts:
Pharmaceutical Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Factors such as benefits over traditional dosage froms and product launches are expected to increase market growth. The softgel capsule dosage form offers several benefits over traditional dosage forms, such as delivery of a low and ultra-low doses of a compound, delivering a liquid matrix designed to solubilize and improve the oral bioavailability of a poorly soluble compound, minimization of potential generation of dust during manufacturing and thereby improving the safety of production personnel, and delivery of a low melting compound. Such are expected to increase the adoption of softgel capsules in the pharma industry and thereby driving the segment growth over the forecast period.
Product launches and capability expanson by pharmaceutical companies are also anticipated to drive the market growth. For instance, in May 2021, CBD Healthcare company Opticann launches ArthroCBD softgel capsules. ArthroCBD is a softgel capsule with 25 mg of CBD and 6 mg of Beta-caryophyllene and is formulated using VESIsorb, which provides improved 4.4x absorption versus competitive oral CBD products on the market. Similarly, in April 2020, SunISDIN Softgel Capsules were introduced by ISDIN to the United States market. With the help of the exclusive VitAox ULTRA Complex in this dietary supplement, the skin is better equipped to resist photoaging, avoid oxidative stress, and maintain overall skin health. Additionally, in August 2022, Strides Pharma Global Pte, a wholly-owned arm of the Strides Pharma has received the United States Food and Drug Administration approval for its generic naproxen sodium softgel capsules. The drug is useful to treat inflammation or pain.
Hence, the above-mentioned factors are likely to drive the pharmaceutical segment growthover the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
The North America region is expected to dominate the market owing to the increase in product approvals and agreements and acquisitions by key market players. For instance, in February 2021, Catalent signed a multi-year commercial supply agreement with Aurinia Pharmaceuticals, a biopharmaceutical company focused on delivering therapies to treat targeted patient populations that are impacted by serious diseases with a high unmet medical need, for LUPKYNIS in the United States. LUPKYNIS (voclosporin) capsules, a calcineurin-inhibitor immunosuppressant, are available for administration as soft gelatin capsules containing 7.9 mg voclosporin per capsule. Additionally, in January 2020, Strides Pharma Science Limited received approval for Loratadine Softgel Capsules, 10 mg (OTC) from the United States Food and Drug Administration (USFDA). Loratadine Softgel Capsules is an antihistamine to treat symptoms such as itching, runny nose, watery eyes, and sneezing from "hay fever" and other allergies. Furthermore, acquisitions are another factor in the market growth. For instance, in September 2020, Tetra Bio-Pharma Inc. entered into a definitive agreement to acquire the Canadian exclusive rights for Dronabinol Soft Gel capsules. The acquisition will allow Tetra to establish an immediate and direct commercial presence in Canada by promoting an existing prescription drug.
Hence, the above-mentioned factors are likely to propel the growth the North America over the forecast period.
