Tablet Coatings Market to Reach $4.1 Billion, Globally, by 2031 at 6.6% CAGR: Allied Market Research
The increase in the geriatric population that are prone to chronic diseases such as diabetes, inflammatory bowel diseases, ulcer, and asthma, and the rise in sports injuries and road accidents drive the growth of the global tablet coatings market.
PORTLAND, Ore., Dec. 14, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Tablet Coatings Market by Polymer (Cellulosic, Vinyl, Acrylic), by Type (Sugar Coated, Film Coated, Enteric Coated, Gelatin-coated), by Functionality (Delayed-Release, Sustained Release), by End User (Pharmaceutical, Nutraceutical): Global Opportunity Analysis and Industry Forecast, 2021-2031". 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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Prime determinants of growth
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.
The cellulosic segment to maintain its leadership status throughout the forecast period
Based on polymer, the cellulosic segment held the highest market share in 2021, accounting for more than two-thirds of the global tablet coatings market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to its advantages such as being readily soluble in both aqueous media and a wide range of organic solvent systems, and high adoption of cellulosic. However, the acrylic segment is projected to manifest the highest CAGR of 8.1% from 2022 to 2031, owing to the increase in the use of colon drug delivery systems and increase in the development and advancements in acrylic polymer.
The film coated segment to maintain its leadership status throughout the forecast period
Based on type, the film coated segment held the highest market share in 2021, accounting for more than two-fifths of the global tablet coatings market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to high adoption of film coated tablet and increase in geriatric population. However, the enteric-coated segment is projected to manifest the highest CAGR of 7.3% from 2022 to 2031. This is owing to the rise in the prevalence of colitis, Inflammatory bowel disease, and an increase in awareness regarding the use of enteric coating for targeted drug delivery in emerging economies.
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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.
North America to maintain its dominance by 2031
Based on region, 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.
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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