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(January 15, 2018)
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 %. Capsules are empty shells used to enclose active drugs for protecting them or to make the medication more palatable. The capsuled dosage forms can also be used as suppositories or for local application by pinching them to release the active drug. Capsules have been viewed as the most efficient method of taking nauseating and bitter tasting medications.
The Middle East and Africa capsule market is growing at a good rate. The marketís 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.
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The marketís 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 materialís 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.
The capsule industry has responded and current market trends include shift towards vegetarian substitutes such as carrageenan, agar, and starch based capsules.
Key Players for Middle East and Africa Capsule Market:
Some of the key players in this market are ACG Associated Capsules, Capsugel, Qualicaps, Suheung, Roxlor LLC, Medi-Caps Ltd, Suheung Co. Ltd and others.
Regional Analysis of Middle East and Africa Capsule Market:
UAE is the largest market for capsule in entire Middle East and Africa capsule market closely followed by Egypt. The rest of Africa market is however growing very fast with a huge unmet medical needs. The growing veterinary drugs market is also fuelling the demand for capsules especially in Africa. However greater prevalence of substandard capsules is a threat to the industry.
The report of Middle East and Africa Capsule Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future size of the market in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of different markets segments and regions.
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Major TOC for Capsule Market:
1.2 Scope of Study
1.3 Research Objective
1.4 Assumptions & Limitations
1.5 Market Structure:
2 Research Methodology
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
3 Market Dynamics
3.5 Macroeconomic Indicators
4 Market Factor Analysis
4.1 Porterís five forces model
4.1.1 Bargaining Power of suppliers
4.1.2 Bargaining Power of Customer
4.1.3 Intensity of Competitorís
4.1.4 Threat of New Entrants
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