Growth of pharmaceutical sector with a steady increase in global aging population and awareness towards health will fuel the microencapsulation market demand in coming years.
Sellbyville, DE -- (SBWIRE) -- 12/12/2018 -- The qualitative research study conducted by Global Market Insights, Inc. titled "Microencapsulation Market" provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Microencapsulation Market.
Microencapsulation Market Size will surpass USD 14 billion by 2024; according to a new research report by Global Market Insights, Inc.Growth of pharmaceutical sector with a steady increase in global aging population and awareness towards health will fuel the microencapsulation market demand in coming years. 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.
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Frutarom's recent acquisition of AB-Fortis can be placed as an apt instance depicting signs of expansion of microencapsulation market. A profound vertical of polymer and advanced materials space, microencapsulation market, has been witnessing a remarkable momentum recent times, quite evident from the numerous efforts undertaken by renowned giants to unlock its potential in as many applications as possible.
The incorporation of AB-Biotics' two-layer microencapsulation technology, christened as AB-Fortis by Frutarom is a testament to the aforementioned. Allegedly, with this takeover, the Israel based flavor giant is planning to incorporate microencapsulation technology in food processing, in a bid to increase the iron absorbability in tissues without any side effects and compromise on taste. While the acquisition is mainly on the heels of strengthening Frutarom's market position in specialty chemical space, it is indisputable that microencapsulation industry dynamics would also witness a significant impetus post this agreement.
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The pharmaceutical domain, unquestionably, is one of the pronounced end-use domains of microencapsulation industry. Of late, the microencapsulation technology has been gaining a renewed attention in the field of tissue engineering, drug development, as well as in oral delivery systems. In fact, estimates depict that a large number of microencapsulated products have been already commercialized for the quick delivery of pharmaceutics. Driven by the fact that microencapsulated molecules bring forth a host of benefits, controlled drug delivery being at the pinnacle, overall microencapsulation industry from pharma applications alone garnered a revenue of USD 4 billion in 2016.
Speaking of the geographical penetration, the growth prospect of North America microencapsulation market is forecast to be positively high, primarily driven by the significant contribution of U.S. in biotech and pharmaceutical sectors. Estimates depict that U.S. alone accounted for over 40% of the overall pharmaceutical market share in 2016, with a worth of around USD 445 billion.
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In another report it has been claimed that United States biopharmaceutical market is presently the largest and accounts for almost one-third of the overall share. In conjecture, the country is reported to invest maximum in biopharmaceutical research and development. These statistics are evidence enough to state that with U.S. at the growth front, North America would prove to be one of the most opportunistic growth avenues for microencapsulation industry. As per estimates, overall North America microencapsulation market procured almost 40% of the global share in 2016. Other than North America, Europe also stands to gain remarkable proceeds in the business sphere.
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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.