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Softgel capsules are significantly used in medicinal applications to improve the adsorption rate of the medicines. Softgel is primarily used as they dissolve faster than the hard capsule. These capsules are used for various applications in the healthcare industry such as nutraceutical, cosmeceutical, and others. Rising out-of-pocket expenditure has led to increasing demand for softgel capsule products for numerous health applications. Multiple companies have initiated R&D to launch softgel capsule drugs for complex disorders such as cancer etc. Moreover, requirement of daily dietary supplements to maintain fitness has also promoted the growth of softgel capsules market. Therefore, owing to multiple opportunities in the healthcare industry the global market is anticipated to significant growth during the forecast period.
The major factor driving the global Softgel capsules market is increasing healthcare spending in the population subsequently leading to higher demand in the health supplement products. Moreover, rising adoption among population about the various products for different applications is also likely to contribute to the market growth.
On the flip side, higher cost of the vegetarian Softgel capsules is likely to restrict the adoption by nutraceutical and cosmeceutical companies thus restricting the growth of the market value in the forecast period.
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By type, the market is segmented into gelatin capsule and vegetarian capsule. Based on application, the market is segmented into health supplements, vitamins & dietary supplements, prescription medicines, and others. Based on end users, the softgel capsules market is segmented into pharmaceutical companies, nutraceutical companies, cosmeceutical companies, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The major companies in the global cell surface markers market report includes, Aenova Holding GmbH, Capsugel, Fuji Capsule Co., Ltd., CAPTEK Softgel International, Inc., Catalent, Inc., ElnovaPharma, and others.
Key Market Driver -
Increased healthcare spending to promote demand for health and dietary supplements
Key Market Restraint -
High cost of vegetarian Softgel capsules
The global softgel capsules market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America followed by Europe dominated the global market in 2019, owing to the adoption of softgel products by the consumers and nutraceutical and cosmeceutical companies leading to surge in sales. However, increasing healthcare spending and awareness about the benefits of softgel capsules for sports nutrition and other applications is likely to accelerate the growth of the market in Asia Pacific region. Latin America and Middle East & Africa are projected to register a comparatively lower CAGR by the end of the forecast period owing to lack of awareness about the softgel capsule products.
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