Global Tablet Coating Market Insights Forecasts to 2032
- The Global Tablet Coating Market Size was valued at USD 831.7 Million in 2022.
- The Market is growing at a CAGR of 5.8% from 2022 to 2032.
- The Worldwide Tablet Coating Market size is expected to reach USD 1471.2 Million by 2032.
- Asia Pacific is expected to grow the fastest during the forecast period.
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The Global Tablet Coating Market Size is expected to reach USD 1471.2 Million by 2032, at a CAGR of 5.8% during the forecast period 2022 to 2032.
Tablet coating is the process of applying a coating material to the surface of a tablet to obtain desirable dosage form qualities over the uncoated kind. The application of coating material with the use of heated air to promote solvent evaporation is known as tablet coating. Tablet coatings are used to successfully disguise the taste, odor, and color of tablets to improve swallowing, appearance, patient compliance, and medication release control. Furthermore, tablet coating is employed to get the required therapeutic effect at the intended site of action. The tablet is coated with polymers such as cellulose, vinyl, and acrylic, which give both continuous release and delayed release formulation. The expanding pharmaceutical industry, rise in biopharmaceutical uptake, a spike in the generic drug market, growing acceptance of orphan medications, growth in the biosimilars market, and rising demand for nutraceuticals are the factors that will drive the tablet coatings market.
This research report categorizes the global tablet coating market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global tablet coating market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global tablet coating market. Technological innovation and advancement will further optimize the performance of the product, enabling it to acquire a wider range of applications in the downstream market.
Global Tablet Coating Market Report Coverage
|Market Size in 2022:||USD 831.7 Million|
|Forecast Period 2022-2032 CAGR:||5.8%|
|2032 Value Projection:||USD 1471.2 Million|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Polymer, By Type, By Functionality, By End User, By Region, and COVID-19 Impact Analysis|
|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., and Merck KGaA|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
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An orphan drug is a pharmacological substance created to treat uncommon medical problems known as orphan illnesses. Because of the increased number of therapies for rare illnesses, the pharmaceutical industry is likely to see an increase in demand for pharmaceutical components such as APIs and excipients. According to the National Institutes of Health, there are up to 7,000 illnesses considered uncommon by US standards (affecting fewer than 200,000 Americans). Only roughly 600 medications have been authorized since the Orphan Drug Act was passed, leaving most uncommon illnesses without a recognized therapy. Furthermore, drug producers often demand higher costs for orphan pharmaceuticals (due to market exclusivity provided to any business that obtains orphan drug approval). Due to a lack of other options, insurers have largely agreed to pay for such treatments despite their greater cost. The continued focus of medication makers on the development of therapeutic alternatives for rare illnesses is projected to fuel the worldwide market's expansion. Celgene (US), Roche (Switzerland), Teva (Israel), Bristol-Myers Squibb (US), Biogen (US), AbbVie (US), Amgen (US), Novartis (Switzerland), Takeda (Japan), and Jazz Pharmaceuticals (Ireland) are some of the prominent pharmaceutical firms providing orphan medications on the market.
The high cost of R&D resources, as well as processing technologies, is impeding the expansion of the market for such formulations. The creation of microencapsulated materials may sometimes be tailored and must sometimes be carried out on an industrial scale rather than a pilot size. This raises the processing costs of items, resulting in a rise in their price.
- In 2022, the cellulosic segment is influencing the market with the largest market share during the forecast period.
Based on the polymer, the global tablet coating market is segmented into different segments such as cellulosic, vinyl, & acrylic. Among these segments, the cellulosic segment has the biggest revenue share over the predicted period. The high adoption of these polymers can be attributed to their ability to form coatings with generally acceptable properties (such as good film strength, aqueous solubility, and compressibility), less sensitivity to wet granulation, flowability, and better tableting at a low cost. Other factors encouraging the adoption of these polymers for coating applications include global regulatory acceptability and accessible availability from a variety of manufacturers.
- In 2022, the film segment is influencing the largest market share over the forecast period.
Based on type, the global tablet coating market is classified into film, sugar, & enteric. Among these segments, the diabetes segment is dominating the market due to the widespread use of film-coated pills and the growing elderly population. Growth in the film-coated sector is also linked to a rise in the prevalence of conditions such as diabetes, asthma, and acidity, which leads to an increase in film-coating and accelerates the growth of other categories. Furthermore, the expansion of film-coated tablets is related to an increase in the use of film-coated tablets as health supplements such as nutritional components.
- In 2022, the non-functional non-modifying coating segment is dominating the market with the largest market share during the forecast period.
Based on the functionality, the global tablet coating market is classified into different segments such as non-functional non-modifying, functional modifying, & functional non-modifying. Among these segments, the spring-based segment has the biggest revenue share over the predicted period due to the extensive use of these coatings in the fabrication of immediate-release dosage forms explains the huge proportion of this category. Furthermore, the increased need for new medicine delivery formulations and nutritional supplements utilizing immediate-release coatings will fuel market expansion.
- In 2022, the pharmaceutical segment is dominating the largest market share during the forecast period.
Based on end user, the global tablet coating market is classified into pharmaceutical and nutraceutical. Among these segments, the pharmaceutical segment is dominating the market. The increasing frequency of disorders for which tablet-based formulations are the principal therapy drives the need for tablet coatings in the pharmaceutical business. The rising need for novel drug delivery formulations is also helping the pharmaceutical sector develop.
Regional Segment Analysis of the tablet coating market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Europe is dominating the market with the largest market revenue share during the forecast period
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Europe is leading the significant market growth during the forecast period, due to the presence of several pharmaceutical massive organizations with vast production capacity, resulting in a significant consumption of excipients, which accounts for a major part of this market category. The rising emphasis on better pharmaceutical goods, generics, and biosimilars has also increased demand for new excipients, which is projected to fuel market expansion in this area in the approaching years.
Asia-Pacific is expected to grow at the highest rate over the forecast period owing to the presence of pharmaceutical businesses in the area, as well as the development in the buying power of populous nations like 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 tablet coating 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.
List of Key Companies
- 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
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In February 2022, JRS PHARMA introduced VIVACOAT-free, TiO2-free, ready-to-use coatings for pharmaceutical and nutraceutical compositions.
- In February 2021, Nutrafinish, a label-friendly and TiO2-free tablet coating for dietary supplements, was introduced by Colorcon.
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Tablet Coating 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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