Tablet Coatings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The tablet coatings market is expected to register a CAGR of 5.6% during the forecast period (2022-2027).

Covid-19 was an unprecedented event that has impacted nearly every aspect of businesses around the world. The pandemic did not fail to hamper the pharmaceutical and nutraceutical industry growth. Due to strict restrictions and lockdowns, the industries remain closed. The supply chain was disrupted drastically due to regulatory restrictions on transport. International trade was affected by the pandemic. The ongoing clinical trials and drug development process were delayed with disruptions to trial enrolment, data collection, data analysis, and industrial closures. However, the demand for drug development to combat the Covid-19 infection has grown rapidly. This created demand for the development of new drugs. Major companies in the pharmaceutical sector have taken advantage of the pandemic, and drug repurposing was increased. An article published in September 2021 titled “COVID-19 pandemic impact on the pharmaceutical sector in Bulgaria” mentioned that scientific research focused majorly on the development of drugs and vaccines and expanding the therapeutic indications of drugs that could have a potential effect on the Covid-19 disease. The source also mentioned that as of September 2021, globally, 113 drugs and 53 vaccines were in clinical trials. Therefore, apart from the negative impacts, the demand for drug development to aid the infection and cure the disease increased. Hence, impacted the growth of the studied market positively.

The market for tablet coatings is driven towards growth, majorly owing to the factors such as expeditious growth of the pharmaceutical industry, rapid adoption of orphan drugs and nutraceuticals, and increasing research and development (R&D) investment activities among others.

Pharmaceutical spending is the expenditure on prescription medicines and self-medication, sometimes referred to as over-the-counter (OTC) drugs. According to the Center for Infectious Disease Research and Policy (CIDRAP), the United States was among the top market for healthcare and pharmaceutical spending, which was valued at USD 527.8 billion in 2020; China spent 25.4% of the United States' total spending still, remained second in healthcare and pharmaceutical spending. Therefore, these investments by the countries globally are expected to drive the growth of the studied market over the forecast period.

However, stringent regulatory demand related to drug approvals, high failure rates of the drugs in the process, and increasing cost of drug development is anticipated to hinder the studied market growth.

Scope of the Report

As per the scope of the report, tablet coating is the process of applying a coating material to the surface of the tablet to achieve the desired properties of the dosage form. The tablet coating is a significant step involved in the manufacturing process of tablet dosage forms. This coating process involves the deposition of thin and uniform polymer-based formulations onto the surface of solid dosage forms such as tablets, capsules, powders, granules, or pallets.

The tablet coatings market is segmented by Coating Type (Film-coated, Sugar-coated, Enteric-coated, and Others), Polymer (Cellulose Ether Polymers, Vinyl Alcohol polymers, Acrylic Acid Polymers, and Others), Formulation (Plasticizer, Colorant, and Solvent (Vehicle)), Application (Immediate-Release, Sustained-Release, and Extended-Release), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

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Key Market Trends

Immediate Release by Application Segment is Expected to Grow Over the Forecast Period

The immediate-release tablets are currently dominating the market, and it is expected to dominate the market over the forecast period.

Immediate-release tablets are used to disintegrate and release their dose type with special coatings and different techniques. These immediate-release tablets have advantages such as they are economical and cost-effective, provide quick onset of action, are suitable for industrial production, and have improved stability and bioavailability. These immediate-release tablets are adaptable to existing processing and packaging machinery. Hence these advantages create more opportunities for immediate-release tablets, hence driving the growth of the segment of the studied market.

Additionally, the article titled “Immediate Release Tablets: A Review,” published in June 2021, mentioned that the immediate release tablets offer ease of ingestion. They are simple, safest, and convenient to use. These immediate-release forms provide versatility and, most significantly, patient compliance and are cost-effective for manufacturing. Also, the source mentioned above states that the need for a rapid therapeutic action of drugs has increased recently, and this dosage form gives a rapid set of action. Therefore, the demand for the immediate therapeutic action of drugs is positively driving the growth of the segment.

Therefore, owing to the increasing demand for rapid onset of action and advantages of the immediate release tablets by application, the studied segment is anticipated to witness growth over the forecast period.

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