How big is the Tablet Coatings Market?
The tablet coatings market size was valued at $2.2 billion in 2021, and is estimated to reach $4.1 billion by 2031, growing at a CAGR of 6.6% from 2022 to 2031. Tablet coatings is a process by which an outer, essentially dry layer of coating material is applied to a surface of the dosage form.
The tablet coatings market is expected to gain traction during the forecast period owing to its increased utilization in dietary supplements and the need for enteric-coated tablets to protect the stomach lining from side effects such as nausea, irritation, and bleeding.
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The increase in the geriatric population that are prone to chronic diseases such as diabetes, inflammatory bowel diseases, ulcer, and asthma, the rise in general surgery, cardiovascular surgery, central nervous system surgery, orthopedic surgery, and ophthalmic surgeries, and the rise in sports injuries and road accidents drive the growth of the global tablet coatings market. However, high cost of tablet coatings restricts the market growth. Moreover, technological advancements, the launch of various products, and strategies among key players such as acquisition, collaboration, and agreement present new opportunities in the coming years.
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a negative impact on the global tablet coatings market, as huge number of medical college and hospital across the globe were restructured to increase the hospital capacity for patients diagnosed with COVID-19.
- Outpatient department (OPD) for patients took a potential backlog due to rapidly rising COVID-19 cases.
- However, the market is expected to gain traction post-pandemic, owing to the increase in update of dietary supplements and other essential tablets.
KEY FINDINGS OF THE STUDY
- On the basis of polymer, the cellulosic segment held the largest share of the tablet coatings market in 2021.
- A few of the tablet coatings market trends include increased utilization of coated tablets, especially for children to cover the pungent smell of drugs used in the tablets coupled with sugar coating.
- On the basis of type, the film coated segment held the largest share of the tablet coatings industry in 2021.
- By functionality, the sustained release segment held the largest share of the tablet coatings market in 2021.
- On the basis of end-user, the pharmaceutical segment held the largest market share in 2021.
- On the basis of region, North America held the largest market share in 2021.
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The pharmaceutical segment to maintain its lead position during the forecast period
Based on end user, the pharmaceutical segment accounted for the largest share in 2021, contributing to around four-fifths of the global tablet coatings market, and is projected to maintain its lead position during the forecast period. The same segment is expected to portray the largest CAGR of 6.7% from 2022 to 2031. This is owing to a rise in the prevalence of diseases, an increase in the number of pharmaceutical industries, and an increase in the number of geriatric populations.
Leading Market Players: –
- L’Air Liquide S.A.,
- Aquadry Pharma Pvt. Ltd.,
- Aries Exim Pvt. Ltd.,
- Ashland Global Holdings, Inc.,
- Biogrund gmbh,
- Coatings Place, Inc.,
- Colorcon, Inc.,
- DuPont de Nemours, Inc.,
- Eastman,
- Evonik industries ag,
- Ideal cures pvt. ltd.
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