The Global Tablet Coatings Market- Growth, COVID-19 impact and Forecast (2021-2025)
The Tablet Coatings market is segmented by Product type (Film-coated Tablets, Sugar-coated Tablets, Enteric-coated Tablets, Others); End user (Pharmaceutical and Nutraceutical); Geography (APAC, North America, Europe and ROW).
Introduction
Tablet coating is a process by which an essentially dry, outer layer of coating material is applied to the surface of a dosage form in order to confer specific benefits over uncoated variety.
Growth in this market is majorly driven by the growing pharmaceutical industry coupled with the increasing R&D activities taking place in this field. Also, the growing generics market, rapidly growing biopharmaceuticals sector, growing nutraceutical industry, and the rising adoption of orphan drugs are supporting the growth of the market.
Despite the current pandemic situation, the end-users of this market is recovering to operate in full capacities from 2021 beginning. Along with this, the increasing demand for sports nutrition and the technological advancements are expected to mitigate to numerous potential negative impacts caused during COVID-19 and maximize their opportunities in future
Table of Contents
Market Overview
The global tablet coatings market is expected to grow to $983.40 million by 2025
Growth momentum is expected to accelerate during the forecast period with a 5.85% CAGR.
Growth in this market is majorly driven by the growing pharmaceutical industry coupled with the increasing R&D activities taking place in this field.
Europe dominated the market due to the presence of a number of pharmaceutical giants with large production capacities leading to high consumption of excipients.
Key Trends
Shifting focus of pharmaceutical manufacturing to emerging markets along with the increasing outsourcing of operations to these countries are expected to create new opportunities during forecast period.
The growing biologics and biosimilars industry are also expected to create significant opportunities for market growth.
Key Market Players
The market is dominated by global vendors like Colorcon, Sensient Technologies, BASF, Evonik Industries, Ashland Global Holdings, DuPont
The key players are rigorously competing and offering custom solutions for high-performance low-cost tablet coating requirements.
The market players are focusing on strengthening their positions by adopting strategic initiatives, such as geographical expansion, mergers & acquisitions, and partnerships
Growth Drivers and Challenges
Growth in this market is majorly driven by the growing pharmaceutical industry coupled with the increasing R&D activities taking place in this field.
The growing generics market, rapidly growing biopharmaceuticals sector, growing nutraceutical industry, and the rising adoption of orphan drugs are supporting the growth of the market.
The increasing regulatory stringency regarding the approval of drugs and excipients along with the cost and time-intensive drug development process
The high cost associated with the microencapsulation process and the unfavorable drug price control policies.