Pharmaceutical Gelatin Market worth $1.2 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Oct. 2, 2020 /PRNewswire/ -- According to the new market research report "Pharmaceutical Gelatin Market by Source (Porcine, Bovine Skin, Bovine Bone, Fish, Poultry), Application (Hard Capsule, Soft Capsule, Tablet, Absorbable Hemostat), Function (Stabilizing, Thickening, Gelling), Region - Global Forecast to 2025", published by MarketsandMarkets™, the market is projected to reach USD 1.2 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 5.3% during the forecast period.
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Growth of this market is driven by the unique functional properties of gelatin that can be utilized in pharmaceutical applications, medical and biomedical applications. The growth of the market can also be attributed to the rise in chronic illnesses and aging population. However, factors such as the rising prices of raw material and increasing vegetarianism and veganism globally are expected to restrain the growth of this market to a certain extent during the forecast period.
By application, the hard capsules segment is expected to account for the largest share of the Pharmaceutical Gelatin Market
Based on application, the market is segmented into hard capsules, softgel capsules, tablets, absorbable hemostats, and other applications. The hard capsules segment is estimated to account for the largest market share in 2019. The large share of this segment can be attributed to the superior functional properties offered by pharmaceutical gelatin in hard capsules such as safety, stability, and efficacy.
On the basis of source, the bovine bone segment is expected to grow at the highest CAGR in the forecast period
On the basis of source, the Pharmaceutical Gelatin Market is segmented into porcine, bovine skin, bovine, bone, marine and poultry. The bovine bone segment is expected to grow at the fastest rate in the forecast period. The high growth rate of the bovine bone segment is due to its property of high viscosity and low bloom which makes it suitable for use across a range of pharmaceutical applications.
By function, the stabilizing agent function of pharmaceutical gelatin is expected to hold the highest share in the market during the forecast period
On the basis of function, the Pharmaceutical Gelatin Market is segmented into stabilizing agent, thickening agent and gelling agent. The stabilizing agent segment is expected to hold the highest share in the market during the forecast period. The high share of the stabilizing agent segment can be attributed to film formation property by gelatin which can stabilize surface interfaces .This is an important function which enables dispersed phases to be protected with a particular medium and can be utilized in the stabilization of capsules and emulsions in pharmaceutical applications
By Type, Type A pharmaceutical gelatin is projected to grow at the highest rate during the forecast period.
By Type, pharmaceutical gelatin is segment in to Type A & Type B. The Type A segment is projected to grow at the higher CAGR during the forecast period. The shorter time required for pre-treatment prior to the extraction of gelatin and minimization of the generation of waste water in the Type A process for the extraction of gelatin from porcine skin is projected to drive the growth of this segment during the forecast period.
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North America to dominate the Pharmaceutical Gelatin Market during the forecast period
North America is expected to account for the largest share of the market in 2019, followed by Europe. The dominance of the North American region can be attributed to the sufficient availability of raw material for pharmaceutical gelatin, increasing R&D investment in the region and presence of a large number of market players.
Prominent players in the Pharmaceutical Gelatin Market include Darling Ingredients Inc. (US), Nitta Gelatin Inc (Japan), Tessenderlo Group (Belgium), Gelita AG (Germany), Gelnex Industria E Comercio Ltda (Brazil) & Junca Gelatines (Spain)
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