Middle East and Africa Capsule Market is expected to grow at a CAGR of ~8.5% by 2022

Pune, India, February, 2016 /MRFR Press Release/- Market Research Future published a half cooked research report on Middle East and Africa capsule market. This market is expected to grow at a CAGR of 8.5% during the period 2016 to 2022.

Market Highlights

Capsules are used in enclosing any nauseating and bitter tasting drug to increase patient conformance to the treatment by drug. The market for Middle East and Africa capsule market is growing at a rate of 8.5% largely due to unmet needs of the market and growth of neutraceutical market. Other factors driving the market are rising demand for vegetarian and halal-based capsules, growing consumer preference towards capsule-based formulations, ease of use and 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 driving the market. Growing use of soft gelatin capsules as suppositories is another factor that is driving the growth of this market.

The market’s constrains include high cost of vegetable capsules, low tamper resistance of capsules compared to tablets, higher cost of formulation as compared to tablets among others. However, the most important 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 costs. Societal and religious considerations along with vegetarian demands have also been considered to negatively impact the industry. Other restraints includes strict and tightened regulations governing manufacturing of capsules.

The market trends include shift towards vegetarian substitutes such as carrageenan, agar and starch based capsules. The entry into market is very easy but the competition is very high as there are number of manufacturers.

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Middle East and Africa Capsule Market:

The Middle East and Africa capsule market has been evaluated to be a growing market and it is expected that the market will grow at an impressive CAGR in future as well. The Middle East and Africa capsule market is expected to grow with a CAGR of 8.5% in future. The growth will be primary channeled by unmet medical needs, rising incomes of population and growth of veterinary drug market in Africa. Rise of low quality spurious capsules in Africa has also reduced the market’s growth.

Major participants of this market are: ACG Associated Capsules, Capsugel, Qualicaps, Suheung, Roxlor LLC, Medi-Caps Ltd, Suheung Co. Ltd and others.

Regional Analysis

Depending on geographic region, capsule market is segmented into following countries which includes UAE, Egypt, Saudi Arabia, Kuwait, Qatar and Oman. UAE is the largest market followed by Egypt. However the future market will be led by poorly developed parts of Africa due to large unmet needs and growth of veterinary drugs market.

Segmentation:

Middle East and Africa capsule market has been segmented on the basis of product type which comprises hard capsules and soft capsules. On the basis of raw material; market is segmented into bovine, porcine and non-gelatin. On the basis of route of administration; market is segmented into oral and others. On the basis of end user; market is segmented into pharmaceuticals and others.

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