Global Tablet Coating Market Size to Grow USD 1471.2 Million By 2032 | CAGR of 5.8%
The Market is Growing at a CAGR of 5.8% from 2022 to 2032 and The Worldwide Tablet Coating Market size is expected to reach USD 1471.2 Million by 2032, According to a research report published by Spherical Insights & Consulting. Companies Covered: Colorcon Inc., Sensient Technologies Corporation, BASF SE, Evonik Industries AG, Ashland Global Holdings Inc., DuPont De Numeours Inc., Kerry Group plc, Roquette Freres, Eastman Chemical Company, Air Liquide S.A., Merck KGaA and Other Market Players.
New York, United States , Nov. 01, 2023 (GLOBE NEWSWIRE) — The Global Tablet Coating Market Size is to Grow from USD 831.7 Million in 2022 to USD 1471.2 Million by 2032, at a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period.
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Tablet coating is the process of putting a coating substance to the surface of a tablet to achieve desired dosage form attributes over uncoated tablets. Tablet coating is the process of applying a coating material while using hot air to accelerate solvent evaporation. To enhance swallowing, appearance, patient compliance, and medicine release control, tablet coatings are effectively utilized to hide the taste, odor, and color of tablets. In addition, tablet coating is used to provide the desired therapeutic impact at the site of action. The tablet is coated with polymers such as cellulose, vinyl, and acrylic, which provide both continuous-release and delayed-release formulations. The increasing pharmaceutical sector, increased biopharmaceutical uptake, a surge in the generic drug market, growing acceptance of orphan pharmaceuticals, expansion in the biosimilars market, and rising demand for nutraceuticals will boost the tablet coatings market.
An orphan drug is a pharmacological agent developed to address rare medical issues known as orphan disorders. Because of the rising number of medicines for uncommon disorders, the pharmaceutical industry is anticipated to witness an increase in demand for pharmaceutical components such as APIs and excipients. According to the National Institutes of Health, up to 7,000 diseases are deemed rare by US standards (affecting less than 200,000 Americans). Only about 600 drugs have been approved since the Orphan Drug Act was created, leaving most unusual ailments without a recognized treatment. Furthermore, the high cost of R&D resources, as well as processing methods, is inhibiting the growth of the market for such formulations. The manufacture of microencapsulated materials can sometimes be customized and must sometimes be done on an industrial scale rather than a pilot basis. This boosts the processing expenses of things, resulting in a price increase.
Covid 19 Impacts
COVID-19 has had an influence on the worldwide tablet coating business as a result of government-imposed lockdowns and travel restrictions throughout the world. As a result, COVID-19 had a detrimental influence on the healthcare domain and disrupted the supply chain, from raw materials to manufacture and delivery. However, the need for therapeutic development for the treatment of COVID-19 infection expanded significantly, resulting in the creation of novel treatments. Major pharmaceutical corporations have taken advantage of the epidemic, expanding medication repurposing. As a result, the market grew moderately during the epidemic. Later, with fewer COVID-19 cases and better healthcare sectors, the market is predicted to expand sustainably.
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The cellulosic segment is influencing the market with the largest market share during the forecast period.
The worldwide tablet coating market is divided into several categories based on polymer, including cellulosic, vinyl, and acrylic. Among these segments, cellulosic has the highest market share during the forecast period. These polymers’ widespread use can be due to their ability to create coatings with generally acceptable qualities (such as strong film strength, aqueous solubility, and compressibility), decreased susceptibility to wet granulation, flowability, and improved tableting at a reasonable cost. Other reasons driving the use of these polymers for coating applications include global regulatory acceptance and the availability of these polymers from several manufacturers.
The film segment is influencing the largest market share over the forecast period.
The global tablet coating market is segmented into three types such as film, sugar, and enteric. Diabetes is the market leader, owing to the widespread usage of film-coated tablets and the expanding older population. The expansion of the film-coated sector is also connected to an increase in the prevalence of illnesses such as diabetes, asthma, and acidity, which leads to an increase in film-coating and accelerates the growth of other categories. Furthermore, the usage of film-coated tablets as health supplements, such as nutritional components, is increasing.
The non-functional non-modifying coating segment is dominating the market with the largest market share during the forecast period.
The worldwide tablet coating market is divided into different segments based on functionality such as non-functional non-modifying, functional modifying, and functional non-modifying. The spring-based sector has the highest revenue share throughout the forecast period, owing to the widespread usage of these coatings in the manufacture of immediate-release dosage forms, which explains the large proportion of this category. Additionally, the growing demand for innovative drug delivery formulations and nutritional supplements that use immediate-release coatings will drive market growth.
The pharmaceutical segment is dominating the largest market share during the forecast period.
The global tablet coating market is divided into hospitals & clinics and home healthcare settings based on end users. The hospitals and clinics sector leads the market due to the large component of this market is accounted for by the rising desire to cut healthcare expenses as well as the growing need for drug self-administration.
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Europe is dominating the market with the largest market revenue share during the forecast period
Europe is expected to lead the significant market growth during the projected period, owing to the existence of various pharmaceutical giant organizations with enormous manufacturing capacity, resulting in large consumption of excipients, which accounts for a significant portion of this market category. The growing emphasis on superior pharmaceutical products, generics, and biosimilars has also raised the demand for innovative excipients, which is expected to fuel market development in this sector in the coming years.
Asia-Pacific is predicted to expand at the fastest rate during the forecast period due to the presence of pharmaceutical companies in the region, as well as the rise in purchasing power of populous nations such as China and India, which are driving market expansion in this region.
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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In February 2022, JRS PHARMA developed ready-to-use VIVACOAT-free, TiO2-free coatings for pharmaceutical and nutraceutical formulations.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Wearable Injectors Market based on the below-mentioned segments:
Global Tablet Coating Market, By Polymer
Global Tablet Coating Market, By Type
Global Tablet Coating Market, By Functionality
- Non-functional Non-modifying
- Functional Modifying
- Functional Non-Modifying
Global Tablet Coating Market, By End User
Tablet Coating Market, By Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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