Market Research Future recently published a study report “MEA Capsule Market”, giving out a complete market insight for the period 2018 – 2022. In its analysis, MRFR asserts that the Global MEA Capsule Market will reach up to USD 365.44 Million by 2023 registering 8.5% CAGR during the review period (2018 – 2022).
Market Research Future (MRFR) recognizes the following companies as the key players in Middle East and Africa Capsule Market: There are plenty of large and small market players which operate in this market all over the globe.
The Middle East and Africa capsules market are highly competitive and fragmented. ACG Associated Capsules, Qualicaps, Roxlor LLC, Suheung Co. Ltd, Capsugel, Roxlor LLC, Medi-Caps and others are some of the major players operating in the market. The existing market players are aiming to consolidate their market presence by adopting various strategies such as mergers, innovations, product launches, partnerships, collaboration, and others.
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Global Middle East and Africa Capsule Market – Overview
The Middle East and Africa Capsule Market is growing at a good rate. The market’s driving factors are rising demand for vegetarian and halal-based capsules, growing consumer preference towards capsule-based formulations, growing use of capsules in the pharmaceutical and neutraceuticals. Other factors driving the growth of capsules are ease of use, greater patient conformance and technological advancements such as delayed released and modified release capsules. Development of non-gelatin capsules such as those made from hydroxypropyl methyl cellulose (HPMC), starch based etc. are further driving the market. Growing use of soft gelatin capsules such as suppositories is another factor affecting the market positively. On the basis of segmentation, the development of veterinary drug market is driving the growth of the Middle East and Africa capsule market.
The market’s constrains include high cost of vegetable capsules, low tamper resistance of capsules as compared to tablets, higher cost of formulation as compared to tablets among others. However the critical threat for the capsule industry remains outbreaks of diseases such as bovine spongiform encephalopathy (BSE) which has resulted in temporary scarcity of healthy raw material thereby pushing raw material’s costs. Societal and religious considerations have also impacted the industry negatively. Another restraint is strict and tightened regulations. For example, many European nations such as France has imposed immediate ban on bovine gelatin until EU safety guidelines were put into practice.
Taking all factors into consideration, we expect the Middle East and Africa capsule market to reach around $365.44 million in 2022 from $224 million in 2015 growing at a CAGR of 8.5 %.
The emerging trend in the global capsule market is the rising use of Hydroxypropyl methylcellulose (HPMC) capsules which are a new variety of capsules with superior physical and operational features.
Another emerging trend in the capsule market is the use of polymer capsules which provides a separate chemical environment to protect the capsule interior.
Activated charcoal capsules are the new addition to the global capsules market. This new trend is a powerful natural treatment that traps toxins and chemicals and helps flush them out of the body rather than reabsorbing them.
Segments for Global Middle East and Africa Capsule Market
The Middle East and Africa capsule market has been segmented based on type, raw material, route of administration and end-user. By type, the market has been segmented into hard capsules and soft capsules. By raw materials, the market has been segmented into bovine, porcine and non-gelatin. By route of administration, the market has been segmented into oral and others. By end-users, the market has been segmented into pharmaceuticals and others.
Regional Analysis for Global Middle East and Africa Capsule Market
UAE is dominating the capsule market in the Middle East and Africa and is closely followed by Egypt. The rest of Africa is projected to grow at a speedy rate owing to massive number of unmet medical needs. Prevalence of substandard capsules is a restraining factor to the market.
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Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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