CHICAGO, Dec. 6, 2022 /PRNewswire/ -- Pharmaceutical Gelatin Market is projected to reach USD 1.5 billion by 2027 from USD 1.1 billion in 2022, at a CAGR of 5.5% during the forecast period according to a new report by MarketsandMarkets. The growth of this market is driven by the unique functional properties of gelatin that can be utilized in pharmaceutical, medical, and biomedical applications. The adoption of gelatin in regenerative medicine is one of the major factors anticipated to upsurge the market growth. However, factors such as the rising prices of raw materials and an increasing adoption of non-gelatin capsules across the globe are anticipated to hamper the market growth in coming years.
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Hard capsules segment held a major share in pharmaceutical gelatin market in 2021.
Based on applications, the pharmaceutical gelatin market is segmented into hard capsules, softgel capsules, tablets, absorbable hemostats, and other applications. Hard capsules accounted for the largest share in the pharmaceutical gelatin market in 2021. The large share of this segment is attributed to the rise in demand for hard capsules across the globe owing to the advantages of hard gelatin capsules such as rapid drug release, uniform mixing of drugs, and others.
The porcine source segment held a dominant share in global pharmaceutical gelatin market in 2021.
Based on source, the pharmaceutical gelatin market is segmented into porcine, bovine skin, bovine bone, marine and poultry. The porcine segment held a dominant share in 2021 and is anticipated to grow at a significant CAGR during the forecast period. The large share of the porcine segment is mainly due to the high utilization of pig gelatin in the pharma market due to the low cost of production and short manufacturing cycle.
In 2021 Stabilizing agent segment dominated pharmaceutical gelatin market.
Based on function, the pharmaceutical gelatin market is segmented into stabilizing agent, thickening agent and gelling agent. The thickening agent is projected to witness the highest growth during the forecast period. Various elements such as use of gelatin as thickening agent in syrups, liquid dosages, creams and lotions is expected to project the segmental growth during the forecast period.
Type B segment gained major share in pharmaceutical gelatin market in 2021.
By Type, pharmaceutical gelatin is segmented into type A & type B. The type B segment is projected to grow at a higher CAGR during the forecast period. The growth of the biopharmaceutical sector, increasing preference for bovine bone for manufacturing pharmaceutical gelatin, and the cultural suitability of bovine sources are some of the factors driving the growth of the type B segment in the pharmaceutical gelatin industry.
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Asia Pacific region is likely to grow at a faster pace during the forecast period of 2022-2027
Geographically, the pharmaceutical gelatin market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest share in the global pharmaceutical gelatin market in 2021. The presence of key market players coupled with increasing demand for pharma gelatin in biomedical and biotechnology applications is upsurging the demand for gelatin in the region.
The leading players in the pharmaceutical gelatin market are Darling Ingredients, Inc. (US), Gelita AG (Germany), Tessenderlo Group (Belgium), Nitta Gelatin Inc. (Japan), and others. These companies have adopted organic and inorganic growth strategies, such as product launches and acquisitions, to maintain their leading positions in the pharmaceutical gelatin market.
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