According to a new report published by Allied Market Research, titled,"Enteric Softgel Capsules Market,by Application and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global enteric softgel capsules market was valued at $1,851 million in 2017, and is expected to reach $2,589 million by 2025, growing at a CAGR of 4.2% from 2018 to 2025.
A softgel capsules are hermetically sealed solid dosage forms, containing liquid or semi-solid center active ingredient or the extract incorporated into the outer shell. Growth in number of self-directed consumers, surge in consumer awareness related to preventative healthcare, increase in adoption of health supplements, and rise in adoption of enteric softgel capsules in the emerging economies are key drivers of the enteric softgel capsules market.
Based on application, the enteric softgel capsules market is segmented as health supplements, and pharmaceuticals. At present, the health supplements segment dominates the global market, and is anticipated to continue this trend during the forecast period. This is attributed to its high adoption, growth in awareness for preventative healthcare, and increase in usage of omega-3 supplements in emerging economies.
Based on sales channel, the global enteric softgel capsules market is segmented into supermarket & hypermarket, pharmacy & drug store, and online provider. At present, the pharmacy & drug store segment is the major revenue contributor and is projected to remain dominant during the forecast period. Whereas, the online provider segment is expected to exhibit rapid growth in the market during the forecast period, due to rise in number of internet users and increase in awareness about online pharmacy.
Key Findings of the Enteric Softgel Capsules Market:
- Based on application, the health supplements segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 4.3% from 2018 to 2025.
- Based on sales channel, the pharmacy & drug store segment held more than half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 5.5% during the forecast period.
North America accounted for approximately half the global market share in 2017 and is expected to remain dominant throughout the forecast period. This was attributed to the higher demand for enteric softgel capsules, rise in number of self-directed consumers, and supportive reimbursement policies in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period majorly due to, rise in adoption of enteric coated health supplements softgel, surge in healthcare awareness, and increase in number of R&D activities.