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Pharmaceutical Gelatin Global market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Pharmaceutical Gelatin Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LANDON, GREATER LANDON, UK, June 24, 2024 /EINPresswire / -- The global pharmaceutical gelatin market, specialized for medication and medical applications, is on a trajectory of significant growth. It is anticipated to expand from $1.21 billion in 2023 to $1.3 billion in 2024, representing a compound annual growth rate (CAGR) of 6.8%. This growth is attributed to several factors, including the growing pharmaceutical industry, increasing preference for capsule dosage forms, rising health awareness, and the demand for halal and kosher gelatin.
Rising Demand for Health and Wellness Drives Market Growth
The increasing focus on health and wellness is a major driver for the pharmaceutical gelatin market. This holistic approach to well-being encompasses physical, mental, and social aspects, with pharmaceutical gelatin playing a crucial role in delivering medications safely and effectively. This trend is expected to propel the market to $1.67 billion by 2028, with a CAGR of 6.5%. In January 2024, Wellness Creative Co. reported that the health and wellness sector is expected to reach $7.2 trillion by 2025, growing at an annual rate of 8.5%.
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Key Players and Market Trends
Major companies in the pharmaceutical gelatin market, such as Nitta Gelatin Inc., Lonza Group AG, and Darling Ingredients Inc., are focusing on introducing advanced solutions to reduce production costs and improve product performance. For instance, GELITA MEDICAL GmbH launched Easyseal gelatin, which incorporates optimized seam forming and enhanced seam thickness and stability to reduce issues with soft gel leakers. This innovation improves capsule resilience and mitigates the problem of leakers, enhancing production efficiency and capacity.
Market Segmentation
The pharmaceutical gelatin market is segmented based on type, function, source, and application:
.Type: Type A, Type B
.Function: Stabilizing Agent, Thickening Agent, Gelling Agent, and others
.Source: Porcine, Bovine Skin, Bovine Bone, Marine, Poultry
.Application: Hard Capsules, Softgel Capsules, Tablets, Absorbable Hemostats, and others
Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific led the pharmaceutical gelatin market in 2023 and is expected to be the fastest-growing region. The region's rapid growth is driven by factors such as increasing nutraceutical demand, a rising geriatric population, sustainable practices, and the growth of the global pharmaceutical industry.
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Pharmaceutical Gelatin Global Market Report 2024 from TBRC covers the following information:
.Market size date for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Pharmaceutical Gelatin Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pharmaceutical gelatin market size, pharmaceutical gelatin market drivers and trends, pharmaceutical gelatin market major players, competitors' revenues, market positioning, and market growth across geographies. The pharmaceutical gelatin market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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