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(Health-NewsWire.Net, May 05, 2022 ) Major Growth Influencing Factors:
Growth in Tablet Coatings Market is majorly driven by the growing pharmaceutical industry coupled with the increasing R&D activities taking place in this field. Also, the growing generics market, rapidly growing biopharmaceuticals sector, growing nutraceutical industry, and the rising adoption of orphan drugs are supporting the growth of the market.
Additionally, the shifting focus of pharmaceutical manufacturing to emerging markets along with the increasing outsourcing of operations to these countries and the growing biologics and biosimilars industry present significant opportunities for market growth. The rising focus on sports nutrition and the technological advancements taking place in niche market areas also offers significant growth opportunities for players operating in this space.
On the other hand, the increasing regulatory stringency regarding the approval of drugs and excipients along with the cost and time-intensive drug development process; the high cost associated with the microencapsulation process and the unfavorable drug price control policies are expected to restrain the growth of Tablet Coatings Market during the forecast period. Additionally, increasing safety & quality concerns, increasing penetration of counterfeit drugs, changing trade policies among countries and alcohol dose-dumping of sustained-release dosages pose significant challenges to the growth of this market.
Expected Revenue Growth:
The tablet coatings market is projected to reach USD 969 million by 2025 from USD 739 million in 2020, at a CAGR of 5.6% during the forecast period.
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The cellulose polymers segment is expected to grow at the highest CAGR during the forecast period
Based on the polymers used for manufacture of tablet coatings, the cellulosic polymers segment accounted for the largest share of the global tablet coating market in 2019. The large share of this segment can be attributed to the high adoption of these polymers owing to the ability to form coatings generally having acceptable properties such as good film strength, aqueous solubility, and compressibility, less sensitivity to wet granulation, flowability, and better tableting at a low price. Factors such as the the global regulatory acceptance and ready availability from a number of vendors are also the adoption of these polymers for coating applications.
The non-functional non-modifying coatings segment is expected to account for the largest share of the tablet coatings market
Based on functionality, the non-functional non-modifying coatings segment commanded the largest share in 2019. The large share of this segment can be attributed to high use of these coatings for the manufacture of immediate-release dosage forms. Also, these coats offer the advantages of protection against light and moisture, easy identification, improved swallowability, taste masking, mechanical strength, and improved safety and ease of handling. This is further supporting their adoption in the manufacture of oral solid dosages. Furthermore, the growing demand for innovative drug delivery formulations and increasing focus on nutraceuticals and dietary supplements using immediate-release coatings will continue to drive market growth.
The film-coated tablets segment is expected to grow at the highest rate during the forecast period
The tablet coating market is segmented into film-coated, sugar-coated, gelatin-coated, enteric-coated tablets and other tablet coatings based on type. In 2019, the film-coated segment dominated the tablet coatings market, by type, and is also expected to grow at the highest CAGR during the forecast period. The demand for film-coated tablets is high in the pharmaceutical industry due to the benefits of shorter processing times, fairly thin coats obtained as compared to other coating type, high resistance to mechanical influences, and addition of functional properties to the tablets. These coatings also minimize the risk of medication errors leveraging pigments/ colors for identification and also improves patient compliance through aesthetic appeal which further support market growth.
The pharmaceutical industry end-user segment is expected to account for the largest share of the tablet coatings market
The tablet coatings market, by end-user, is segmented into pharmaceutical and nutraceutical industry. The pharmaceutical industry segment accounted for the largest market share in 2019. The demand for tablet coatings in the pharmaceutical industry is largely driven by the increasing number of drugs launched as tablet formulations and growing prevalence of diseases for which tablet-based formulations form the primary treatment. The rising demand for innovative drug delivery formulations is also supporting the growth of the tablet coatings market for the pharmaceutical industry.
Asia Pacific is expected to account for the highest CAGR for players operating in the tablet coatings market
The Asia Pacific tablet coating market is expected to grow at the highest CAGR from 2020 to 2025. Increase in outsourcing of drug manufacturing to specialized contract manufacturing organizations (CMOs), rising number of companies setting up manufacturing units in these countries, favorable government regulations, low labor and manufacturing costs, and the large base for the generation of generics & biologics are factors expected to drive the growth of the market during the forecast period.
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Global Key Players:
The prominent players in this market are Colorcon Inc. (US), Sensient Technologies Corporation (US), BASF SE (Germany), Evonik Industries AG (Germany), Ashland Global Holdings Inc. (US), DuPont De Numeours Inc. (US), Kerry Group plc (Ireland), Roquette Freres (France), Eastman Chemical Company (US), Air Liquide S.A. (France), and Merck KGaA (Germany).
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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