Microencapsulation Market to witness over 8% growth from 2017 to 2024: Global Market Insights, Inc.
SELBYVILLE, Del., Jan.12, 2018 /PRNewswire-iReach/ — Microencapsulation Market demand is fuelled by growth of pharmaceutical sector with a steady increase in global aging population and awareness towards health in coming years. Global Microencapsulation Market Size will surpass USD 14 billion by 2024. This is driven by the rising demand for microencapsulated drugs. Expansion in pharma sector coupled with extensive research & developments in the healthcare field are driving the microencapsulated drugs industry which is projected to witness an upward trend during the forecast period, hence propelling the overall microencapsulation market.
Microencapsulation enhances drug delivery and is used in a variety of novel drug administration techniques. A primary reason for microencapsulating drug molecules is to ensure controlled drug delivery. This enables sustained and prolonged delivery of a drug in the body. For an instance, its benefits can be seen in the case of aspirin, as direct consumption of product can cause peptic ulcers and bleeding, the microencapsulated drugs release a calculated amount of the active ingredient in the human body without causing any side effects. Additionally, the process ensures certain organoleptic properties such as masking the pungent flavor and odor of medicines, thereby increasing patient willingness to consume them.
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Extensive research is required for choosing the appropriate core material and production technology of the microcapsules or microspheres. Pilot scale testing, field trials, and development of materials are cost intensive processes involved in microencapsulation market applications. As a result, there is increase in product processing cost, which have a significant impact on the product price. This will be a key restraining factor for microencapsulation market growth over the forecast period.
Microencapsulation market has been segmented on the basis of core materials, coating materials, technology and application. Liquid core material held the major portion of the market due to its easily dispersion and dissolving characteristics. The material is widely used in cosmetics, pharmaceutical and food industry.
Based on coating material, gelatin is the one of the most widely used products in the global microencapsulation market, especially in food additive and pharma sectors. This is due to its easily dissolving property in water. Rest of coating materials include polyvinyl alcohol, ethyl cellulose, cellulose acetate phthalate and others.
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Mechanical technologies are widely used in the microencapsulation market due to its cost effectiveness and fast production rate. This technique held the majority of the shares in the overall microencapsulation market in 2016 and will grow at a substantial rate by 2024.
The applications include food additives, agrochemicals, pharmaceuticals and house hold products. The other applications include fragrance, phase change materials, etc. Among these, pharmaceuticals segment and household products, collectively held over 75% of the share in overall microencapsulation market and will expand at a significant rate.
Based on geography, North America will grow at a significant rate in the upcoming years. This is due to the high growth in pharma and food industry in this region, which promotes the microencapsulated product usage in the market.
Browse key industry insights spread across 160 pages with 266 market data tables & 29 figures & charts from the report, “Microencapsulation Market Size By Technology (Chemical, Physiochemical, Electrostatic, Mechanical), By Core Material (Solid, Liquid, Gas), By Coating Material (Gelatin, Polyvinyl Alcohol, Ethyl Cellulose, Cellulose Acetate Phthalate), By Application (Pharmaceutical, Food Additives, Agrochemicals, Household Products), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024″ in detail along with the table of contents:
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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