|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
|By Coating Type|
|Cellulose Ether Polymers|
|Vinyl Alcohol polymers|
|Acrylic Acid Polymers|
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.
To understand key trends, Download Sample Report
North America is Expected to Dominate the Market Over the Forecast Period
North America currently dominates the market for tablet coatings and is expected to dominate the market over the forecast period. Factors such as high treatment awareness among the target population across the countries in the region, pharmaceutical expenditure, increasing product launches, and drug approvals are driving the growth of the tablet coatings market in the region.
The United States currently dominates the market for clinical trials, drug development, and therapeutics, and it is expected to continue its stronghold for a few more years. The United States is anticipated to hold the largest share of the studied market.
The geriatric population is one of the key factors responsible for the market growth in this country, as the older population is at a higher risk of acquiring this disease. The United States Census Bureau data, in 2019, about 54 million Americans were aged 65 years and above. This target population demands new drugs and therapies for better treatment, and this is driving drug development in the country. Hence, driving the growth of the studied market in the United States.
Moreover, around 293,321 studies were registered during the start of the year 2019, and around 32,523 studies were registered at the end of 2019 in the United States as per clinicaltrials.gov. In 2019, approximately 48 novel drugs were approved as per the data provided by the Center for Drug Evaluation and Research (CDER), Food and Drug Administration (FDA). Among the total 53 drugs approved worldwide in the year 2020, most of them were approved in the United States before any other country in the world, as per FDA. This number of drug approvals in the country is expected to grow over the forecast period driving the growth of the segment.
Therefore, owing to the aforementioned factors, the North American region is expected to witness strong growth over the forecast period driving the growth of the tablet coatings market over the forecast period.
To understand geography trends, Download Sample Report
In the current scenario, the number of product launches, collaborations, and other strategies by the market players is increasing, and it's fueling the global tablet coatings market. The market is competitive in nature globally and fragmented due to the presence of several major players in the market. Merck KGaA, Wincoat Colours and Coatings Pvt. Ltd., BPSI Holdings LLC (Colorcon), Corel Pharma Chem., DuPont, BASF Corporation, Sensient Technologies Corporation, Kerry, JRS Pharma, Eastman Chemical Company, Evonik Industries AG, Roquette Freres, among others.
- April 2022, Colorcon launched its latest mineral-free addition to the label-friendly “Nutrafinish P” Film Coatings for the nutritional and dietary supplements market.
- In February 2022, JRS PHARMA introduced the Titanium Dioxide free, ready-to-use coatings, VIVACOAT free. This VIVACOAT free provides an ideal TiO2-free coating solution for both pharmaceutical and nutraceutical formulations.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Expeditious Growth of Pharmaceutical Industry
4.2.2 Rapid Adoption of Orphan Drugs and Nutraceuticals
4.2.3 Increasing R&D Investment Activities
4.3 Market Restraints
4.3.1 Stringent Regulatory Demand
4.3.2 Time and Cost Exhaustive Drug Development Process
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Coating Type
5.2 By Polymer
5.2.1 Cellulose Ether Polymers
5.2.2 Vinyl Alcohol polymers
5.2.3 Acrylic Acid Polymers
5.3 By Formulation
5.3.3 Solvent (Vehicle)
5.4 By Application
5.5.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.5.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.5.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Merck KGaA
6.1.2 Wincoat Colours and Coatings Pvt. Ltd.
6.1.3 BPSI Holdings LLC (Colorcon)
6.1.4 Corel Pharma Chem.
6.1.6 BASF Corporation
6.1.7 Sensient Technologies Corporation
6.1.9 JRS Pharma
6.1.10 Eastman Chemical Company
6.1.11 Evonik Industries AG
6.1.12 Roquette Freres
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The Global Tablet Coatings Market market is studied from 2019 - 2027.
What is the growth rate of Global Tablet Coatings Market?
The Global Tablet Coatings Market is growing at a CAGR of 5.6% over the next 5 years.
Which region has highest growth rate in Global Tablet Coatings Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Tablet Coatings Market?
North America holds highest share in 2021.
Who are the key players in Global Tablet Coatings Market?
Merck KGaA, BPSI Holdings LLC (Colorcon), DuPont, Kerry, JRS Pharma are the major companies operating in Global Tablet Coatings Market.