Global Softgel Capsule Market, By Product Type (Gelatin Softgel Capsule and Non-gelatin Softgel Capsule), By Source Type (Animal-based and Non-animal-based), By Application (Anti-inflammatory Drugs, Antibiotic Drugs, Cardiovascular Drugs, Health Supplements and Others), By End User (Pharmaceutical Companies, Contract Manufacturing Organizations, Neutraceuticals Companies and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,933.9 Mn in 2023 and is expected to exhibit a CAGR of 6.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting various business development activities, such as product launch and others, which in turn is expected to propel the market growth over the forecast period. For instance, in May 2022, Windzor Pharma Ireland Ltd, a pharmaceutical company, launched SOLFEROL Softgel Capsules, a range of Vitamin D3 medicines which are all reimbursed, for the treatment of vitamin D deficiency. This offers the widest range of presentations on the market, including two unique strengths, 400 for the treatment of pregnant and breast feeding women and 20000 for patients who are severely deficient in vitamin D3. The product range is available in all pharma wholesalers and listed on all software prescribing systems nationally.The full range is as follows:
- SOLFEROL Softgel Capsules 400iu x 90
- SOLFEROL Softgel Capsules 800iu x 30
- SOLFEROL Softgel Capsules 800iu x 90
- SOLFEROL Softgel Capsules 1000iu x 28
- SOLFEROL Softgel Capsules 20000iu x 4.
Global Softgel Capsule Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of drugs from one place to another.
Lockdowns or shutdowns imposed in many countries had a negative impact on the economy of the private healthcare sector globally.
Lockdowns resulted in the closure of industrial establishments, except for the manufacturing of essential commodities, and disruptions in the supply chain of healthcare products.
Furthermore, key companies in the global softgel capsule markets were restarting the production and manufacturing of pharmaceutical products by following the COVID-19 guidelines prescribed by the government regulatory bodies, which significantly impacted the market growth. For instance, in April 2020, Lonza Group AG, a leading chemical manufacturer, stated that the each Lonza Group AG manufacturing site and operation units were following the COVID-19 guidelines prescribed by the government regulatory bodies to reduce the spread of COVID-19 infections. They also stated that they were slowly driving the business through this pandemic period, and employees who were working for the company were frequently tested for COVID-19 infection to avoid the spread of COVID-19 infection.
Global Softgel Capsule Market: Key Developments
In August 2022, Strides Pharma Science Ltd and its wholly-owned arm, Strides Pharma Global Pte Ltd,a pharmaceutical company announced that they had received approval from the U.S. health regulator for generic naproxen sodium softgel capsules, that is used to treat pain or inflammation. The approval by the U.S. Food & Drug Administration (USFDA) is for naproxen sodium softgel capsules of 220 mg strength (over the counter), the company said in a regulatory filing.
In May 2021, ArthroCBD, an innovative hemp brand, created a solution to those seeking symptomatic relief, launched ArthroCBD, a softgel capsule with 25 mg of cannabidiol and 6 mg of Beta caryophyllene, and is formulated using VESIsorb, which provides dramatically improved 4.4x absorption versus competitive oral cannabidiol products on the market.
In January 2020, Strides Pharma Science Limited (Strides), a pharmaceutical company, announced that its step‐down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, had received approval for Loratadine Softgel Capsules, 10 mg (OTC) from the U.S. Food & Drug Administration (USFDA). The product is a generic version of Claritin Liqui‐Gels Capsules, 10 mg, of Bayer HealthCare LLC.
Browse 44 Market Data Tables and 37 Figures spread through 172 Pages and in-depth TOC on Global Softgel Capsule Market, by Product Type (Gelatin Softgel Capsule and Non-gelatin Softgel Capsule), by Source Type (Animal-based and Non-animal-based), by Application (Anti-inflammatory Drugs, Antibiotic Drugs, Cardiovascular Drugs, Health Supplements and Others), by End User (Pharmaceutical Companies, Contract Manufacturing Organizations, Neutraceuticals Companies and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Softgel Capsule Market:
- Global softgel capsule market is expected to exhibit a CAGR of 6.4% during the forecast period. Market players are adopting product lauch strategies, which in turn, is expected to fuel market growth over the forecast period. For instance, in February 2022, ZYUS Life Sciences Inc., a Canada based life sciences company, leading scientific research and development in phyto-therapeutics, launched two new cannabinoid products, Zylem 1:20 Softgel Capsules and Zylem 5:5 Softgel Capsules, both for direct sales and distribution to registered medical cannabis patients across Canada. The launch of these two new softgel products marks another important milestone in ZYUS Life Sciences Inc.’ mission to elevate cannabinoids as a standard of care and leverage their transformational potential.
- Among product type, gelatin softgel capsule is expected to be the dominant segment in the global softgel capsule market, due to the increasing launch of new technologies for production of softgel capsules by the market players. For instance, in October 2020, Catalent, Inc., a subsidiary company of Lonza Company, a manufacturing company for the pharmaceutical, biotechnology and nutrition sectors, launched a delayed-release technology called OptiGel DR, which allows softgel capsules to be formed by combining pectin with gelatin to eliminate the need for a separate capsule-coating step. This technology can be used in pharmaceutical and nutraceutical applications. Delayed release technology protects active ingredients from stomach acid, so they are released in directly in the intestines, potentially enhancing bioavailability.
- Among regions, North America is expected to be the dominant region in the global softgel capsule market, due to the increasing prevalence of coronary heart disease in the region, which in turn, is expected to drive the market growth in this region over the forecast period. For instance, on May 15, 2023, according to the report pblished by Centers for Disease Control and Prevention, coronary heart disease is the most common type of heart disease, killing approximately 375,476 people in 2021. About 1 in 20 adults age 20 and older have CAD (about 5%). In 2021, about 2 in 10 deaths from coronary artery disease happen in adults less than 65 years old.
- Major players operating in the global softgel capsule market include Catalent, Inc., Aenova Group GmbH, Sirio Pharma Company Ltd, Captek Softgel International Inc., Elnova Pharma, Fuji Capsule Co., Ltd., Capsugel, EuroCaps Ltd, Guangdong Yichao Biological Co., Ltd., Hunan ER-KANG Pharmaceutical Co Ltd, KD Pharma Group, United Laboratories, Soft Gel Technologies, Inc., Windzor Pharma Ltd , ZYUS Life Sciences Inc. and EuroCaps
