According to a new report by MarketsandMarkets™, the pharmaceutical gelatin market is expected to grow from $1.1 billion in 2022 to $1.5 billion in 2027, at a CAGR of in the amount of 5.5%. . The growth of this market is due to the unique functional properties of gelatin, which finds applications in pharmaceuticals, medicine and biomedicine. The acceptance of gelatin in regenerative medicine is one of the major factors expected to drive the growth of the market. However, factors such as rising raw material prices and the increasing use of non-gelatin capsules around the world are expected to hinder the growth of the market in the coming years.
According to the application, the pharmaceutical gelatin market is divided into hard capsules, soft capsules, tablets, absorbable hemostatic agents and other applications. Hard capsules will occupy the largest share of the pharmaceutical gelatin market in 2021. This segment has a large share due to the growing demand for hard capsules worldwide due to their advantages such as fast drug release and homogeneous drug mixing and others.
Based on the source, the pharmaceutical gelatin market is divided into porcine, bovine skin, bovine bone, sea and poultry. The pig segment dominated 2021 and is expected to grow at a significant CAGR over the forecast period. A large share of porcine gelatin is mainly due to the low cost and short production cycle of porcine gelatin, as well as its high degree of use in the pharmaceutical market.
Based on function, the pharmaceutical gelatin market is divided into stabilizers, thickeners and gelling agents. Thickeners are expected to witness the fastest growth during the forecast period. Various factors, such as the use of gelatin as a thickening agent in syrups, liquid preparations, creams and lotions, are expected to signal growth in the segment over the forecast period.
By type, pharmaceutical gelatin is divided into type A and type B. The type B segment is expected to grow at a higher CAGR during the forecast period. Growth in the biopharmaceutical industry, the growing preference for bovine bone for medical gelatin production, and the cultural adaptation of bovine sources are some of the factors driving the growth of the Type B segment in the medical gelatin industry.
Geographically, the pharmaceutical gelatin market is divided into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa. In 2021, North America accounted for the largest share of the global pharmaceutical gelatin market. The presence of large players in the market, combined with the growing demand for gelatin for pharmaceutical applications in biomedical and biotechnological applications, increases the demand for gelatin in the region.
Post time: Mar-22-2023
