According to SPER Market Research, the Tablet Coatings market estimated to reach USD 1226 million by 2030 with a CAGR of 5.2%.
The rising prevalence of diseases which use tablet as a formulation, rapid growing pharmaceutical industry, and increases in number of drugs in form tablet these are the reasons for the growth in the Tablet Coatings market.
Large number of drugs going off-patent and healthcare reforms favouring generics gaining toehold globally, the lower cost of generic drugs, similar therapeutic effectiveness, and safety profiles as their branded counterparts. The growing generics market, rapidly growing biopharmaceuticals sector and Nutraceutical industry, and the acceptance of orphan drugs are the driving force for the growth of the Tablet Coatings market.
The increasing regulatory stringency concerning the approval of drugs and excipients, the unfavourable drug price control policies, changing trade policies among countries are the challenges for the pharmaceutical industry so as the excipients industry. The high cost in the microencapsulation process, increasing safety & quality concerns, increasing penetration of counterfeit drugs, and alcohol dose-dumping of sustained-release dosages pose significant challenges to the growth of this market.
The outbreak of COVID-19 provides impetus to the pharmaceutical and Nutraceutical market. The healthy living and fitness leads to focus on sports nutrition and the technological advancements is going to boost the oral formulations market in the coming years so as supporting the growth of the tablet coatings market.
The non-functional non-modifying coatings segment is anticipated to account for the largest share of the tablet coatings market. The large share of this segment can be accredited to the potential use of these coatings for the manufacture of immediate-release dosage forms and adoption in the manufacture of oral solid dosages. These coats provide protection against light and moisture, mechanical strength, easy identification, taste masking, improved swallow ability, improved safety and ease of handling.
The film-coated tablets segment is anticipated to grow at the highest rate during the forecast period. The tablet coatings market is segmented into film-coated, sugar-coated, gelatin-coated, enteric-coated tablets and other tablet coatings based on type. The demand for film-coated tablets is high in the pharmaceutical industry due to shorter processing times, fairly thin coats compared to other coating type, high resistance to mechanical influences; these coatings also minimize the risk of medication errors leveraging pigments for identification and also improve patient compliance.
The pharmaceutical industry segment is projected 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 demand for tablet coatings in the pharmaceutical industry is due to the increasing number of drugs launched as tablet formulations and growing prevalence of diseases for which the primary treatment is a tablet-based formulation. The demand for innovative drug delivery formulations is also helping in the growth of the tablet coatings market for the pharmaceutical industry.
The cellulose polymers segment is projected to grow at the uppermost CAGR during the forecast period. The cellulosic polymers segment accounted for the largest share of the global tablet coatings market in 2019. The large share of this segment can be credited to the high adoption of these polymers, global regulatory acceptance and ready availability from a number of vendors, acceptable properties such as good film strength, aqueous solubility, and compressibility, less sensitivity to wet granulation, flow ability, and better tableting in an economical price.
Europe dominates the largest share of the tablet coatings market, followed by North America, the Asia Pacific, Latin America, and the Middle East & Africa. The largest share of Europe is due to the presence of number of pharmaceutical giants, hub of geriatric population, large production capacities and focus on Nutraceutical and sports nutrition.
The global Tablet Coatings market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Air Liquide S.A., Aquadry Pharma Pvt. Ltd., Aries Exim Pvt. Ltd., Ashland Global Holdings Inc., BASF SE, Biogrund GmbH, Coating Place, Inc., Colorcon Inc., Corel Pharma Chem, DuPont De Numeours Inc., Eastman Chemical Company, Evonik Industries AG, Ideal Cures Pvt. Ltd., Kerry Group plc, Lubrizol Corporation, Merck KGaA, Roquette Freres, Sensient Technologies Corporation, Spectrum, Chemical Mfg. Corp., Wincoat Colours & Coatings Pvt. Ltd.
SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2030. This report provides data for the growth estimates and forecasts of the tablet coatings market for the pharmaceutical industry as well as Nutraceutical.This report also provides the data for key regional segments of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
This study also encompasses various drivers and restraining factors for this market for the forecast period. Various growth opportunities are also discussed in the report.