What are the upcoming trends in the Tablet Coatings Market?
A few upcoming trends in the tablet coating market include a rise in awareness regarding the potential benefits of dietary supplements coupled with the enteric coating on tablets.
According to the report, the global tablet coatings industry generated $2.2 billion in 2021, and is anticipated to generate $4.1 billion by 2031, witnessing a CAGR of 6.6% from 2022 to 2031.
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Key Takeaways:
- Growth in Pharmaceutical Industry: The tablet coatings market is closely linked to the pharmaceutical industry’s growth. As the demand for various types of medications continues to rise, the need for effective and innovative tablet coatings to enhance drug delivery, improve stability, and provide unique characteristics has also increased.
- Enhanced Drug Delivery: Tablet coatings play a crucial role in controlling the release of drugs within the body. Modified-release coatings, such as enteric coatings and sustained-release coatings, are used to control the release of the active pharmaceutical ingredient (API) over time, allowing for extended therapeutic effects and reduced dosing frequency.
- Protection and Stability: Coatings provide protection to the tablet’s core ingredients from environmental factors such as moisture, light, and air. This helps to maintain the drug’s stability, prevent degradation, and extend its shelf life.
- Taste-Masking and Aesthetic Appeal: Some medications have unpleasant tastes or odors. Coatings can mask these undesirable characteristics, making the tablet more palatable for patients. Additionally, coatings can enhance the aesthetic appeal of tablets by adding colors, logos, and branding.
- Innovations in Coating Technology: Ongoing research and development efforts have led to the development of advanced coating technologies. Nanocoatings, polymer blends, and functional coatings are being explored to offer improved drug release profiles, better bioavailability, and personalized drug therapies.
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.
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Market Segmentation:
By Type of Coating:
- Sugar Coatings: Traditional coatings that use sugar-based solutions to create a smooth and visually appealing outer layer.
- Film Coatings: Thin polymer films applied to tablets for protection, modified release, taste-masking, and other functionalities.
- Enteric Coatings: Coatings that resist dissolution in stomach acid, allowing the tablet to disintegrate and release its contents in the intestines.
- Sustained-Release Coatings: Coatings designed to control the release of the drug over an extended period, providing a sustained therapeutic effect.
- Functional Coatings: Coatings that offer specific functional properties, such as moisture protection, UV protection, or controlled drug delivery.
By Application:
- Pharmaceutical Tablets: Coatings for prescription and over-the-counter medications to improve drug stability, release, taste, and visual appearance.
- Nutraceutical Tablets: Coatings for dietary supplements and functional foods, enhancing taste, stability, and visual appeal.
- Veterinary Tablets: Coatings for animal health medications, addressing similar needs as in the human pharmaceutical sector.
By End-User Industry:
- Pharmaceutical Industry: Mainly includes coatings for prescription and OTC drugs.
- Nutraceutical Industry: Involves coatings for dietary supplements and functional foods.
- Veterinary Industry: Covers coatings for animal medications.
By Region:
- North America: Covers the United States and Canada, significant in terms of pharmaceutical manufacturing.
- Europe: Encompasses various countries with a strong pharmaceutical presence, including Germany, France, and the United Kingdom.
- Asia-Pacific: Includes rapidly growing markets like China, India, and Southeast Asian countries.
- Latin America: Encompasses countries in Central and South America with a growing pharmaceutical industry.
- Middle East and Africa: Emerging markets with increasing healthcare infrastructure.
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Regional Growth Dynamics:
North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global tablet coatings market, and is likely to dominate the market during the forecast period, owing to the presence of a well-established healthcare infrastructure, high purchasing power, and a rise in the adoption rate of coated tablet. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.2% from 2022 to 2031, owing to a surge in geriatric populations who require more sustained-release tablets for diseases and a rise in awareness regarding the use of tablet coatings for delayed release.
Competitive Landscape:
- Aquadry Pharma Pvt. Ltd.,
- Aries Exim Pvt. Ltd.,
- Ashland Global Holdings, Inc.,
- Biogrund gmbh,
- Coatings Place, Inc.,
- Colorcon, Inc.,
- DuPont de Nemours, Inc.,
- Eastman
VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
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