Softgel Capsule Market Size, Share, Growth Analysis, By Type(Gelatin/ Animal based, non-animal based), By Application(Antacid & anti flatulent preparations, Anti anaemic preparations, Anti inflammatory drugs, Antibiotics & antibacterial drugs), By Manufacturers(Pharmaceutical companies, Nutraceutical companies, Cosmeceutical companies, Contract Manufacturing Organizations), By Region - Industry Forecast 2024-2031

Softgel Capsule Market Driver

• Growing Number of Clinical Trials Boosting Softgel Capsule Use to Promote Revenue Growth
• One of the main factors driving the softgel capsule market expansion is the increase in clinical trials testing the efficacy of soft gelatin capsules in the treatment of various illnesses. For example, InnoPharmax Inc. funded a clinical study in August 2018 with the main goal of evaluating the safety and tolerability of D07001 softgel in patients who had completed first-line chemotherapy or combined chemoradiotherapy (CCRT) for unresectable metastatic or locally advanced biliary tract cancer (BTC). Therefore, the market expansion during the forecast period would be substantially supported by such aspects that boost the use of these capsules in various conditions.

Softgel Capsule Market Restraint

• Pharmaceutical Companies to See a Decline in Revenue as a Result of Losing their Patent Exclusivity
• The creation, exploitation, and preservation of IP throughout its life is the major problem for healthcare organisations. To maintain their revenue streams, pharmaceutical corporations work incredibly hard to fend off patent expiration and generic competition. According to Statista 2020, the patent expiration of several important pharmaceuticals will put the revenue from prescription drugs at risk in the upcoming years. According to the report, the value of prescription pharmaceuticals was US$ 46 billion in 2019 before falling sharply to US$ 16 billion in 2020. As a result, the introduction of generics will increase competition for prescription medications, which is expected to have an impact on the softgel capsule market expansion.