Pharmaceutical Gelatin - Global Industry Growth and Future Analysis

In 2023, the pharmaceutical gelatin market amounted to USD 1,166.7 million and is set to grow at a compound annual growth rate of 5.6% between 2024 and 2030 reaching an estimated amount of USD 1,703.4 million by 2030.

This growth of the industry can be credited to the growing requirement for pharmaceutical-grade gelatin in the manufacturing of vaccines, tablets, and capsules, among others. Moreover, the increasing load of chronic illnesses, the rising elderly population, and the growing improvements of gelatin nanoparticles for vaccines and medications are other reasons boosting the demand.

The acceptance of gelatin by pharmaceutical & nutraceutical makers is growing, because of its multiple functional advantages, like adhesion, binding, gelling, coating, and film-building. Furthermore, gelatin coatings on tablets, soft capsules, and hard capsules make them easier to swallow and cover up their smell for simple ingestion.

In 2023, the hard capsules category generated the largest revenue share, at 40%. This can be credited to the surge in the requirement for hard capsules worldwide, credited to the advantages of hard gelatin capsules for rapid medication release and reliable mixing of medications and others. Also, the gelatin utilized in hard capsules protects sensitive ingredients from light, oxygen, contamination, and microbial growth.

There are several factors contributing to an increased use of type B gelatine, including the reduced cost of production which is a consequence of ease of availability of material; widespread use of Type B in different pharmaceutical applications and higher preference for bovine bone and skin compared with other animal sources as well as cultural suitability.

In 2023, the North American region dominated with the largest revenue share, of approximately 50%, in the pharmaceutical gelatin market, and the region is also projected to maintain its leading position during the forecast period as well. This is credited to the existence of advanced healthcare infrastructure, abundant obtainability of raw materials such as porcine and bovine, and robust foothold of market players, in the continent.

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How Does Rising Demand for Security Enforcement Propels Ballistic Protection Industry?

The ballistic protection industry has garnered $12,478.08 million revenue, and it is projected to generate $19,378.54 million revenue in 2030, advancing at a rate of 5.01%. It is led by the surging use of ballistic protective materials in law and military enforcement organizations across the world. It is ascribed to protecting law enforcement personnel, military personnel, and vehicles from projectiles, mortars, mines, explosives, falling glass, and other dangerous materials.

In addition, these protective materials function in a different way, usually when they are struck by bullets or explosives.

Moreover, the rise in the homeland security forces, such as police, VIP security staff, and first responders, along with the rise in the defense budget boosts the industry growth. Also, governments focus on proliferating and protecting military capabilities due to increasing cross-border disputes.

North America captures the largest industry share of the industry. It is led by rising demand for lightweight armor, surging R&D expenditure, technical advancements, and the presence of key players. The major industry players offer ballistic protection solutions, which include helmets, vehicle armor, shields, and uniforms.

Moreover, celebrities, political leaders, and other famous individuals select private security services, led by increasing security threats, growing terrorist attacks, and cross-border conflicts leading to the increasing requirement for ballistic protection in the Canada and U.S.

On the other hand, the APAC industry is projected to experience rapid growth in the coming years. It is ascribed to increasing defense expenditure in countries such as China, India, Australia, South Korea, and Japan, including the growing economy of the region.

In addition, governments of the above-mentioned countries focus on partnering with the contractors and providing them assistance in the procurement process with financial support and infrastructure.

Therefore, the rising security concerns and growing demand for improving army survivability boost the demand for ballistic protection.

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