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2022

Tablet Coatings Market

Tablet Coatings Market Size, Share, Competitive Landscape and Trend Analysis Report by Polymer, by Type, by Functionality, by End User : Global Opportunity Analysis and Industry Forecast, 2021-2031

LS : Pharmaceuticals

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Author's: Suraj C Sajeev| Kunal Sahu | Roshan Deshmukh
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Tablet Coatings Market Research, 2031

The global tablet coatings market size was valued at $2.2 billion in 2021 and is projected to reach $4.1 billion by 2031, growing at a CAGR of 6.6% from 2022 to 2031. Tablet coating is the process where coating material is applied to the surface of the tablet to achieve the desired properties of dosage form over the uncoated variety. Tablet coating is an application of coating composition with the concurrent use of heated air to facilitate the evaporation of the solvent.

Tablet Coatings Market

 

Tablet coating is an application of coating composition with the concurrent use of heated air to facilitate the evaporation of the solvent. Tablet coatings are used to effectively mask the taste, odor, and color of tablets for ease of swallowing, good appearance, patient compliance, and also for controlling the release of drugs. In addition, tablet coating is also used for achieving desired therapeutic action on the desired site of action. The coating of the tablet is done with the help of polymer including cellulosic, vinyl, and acrylic and provide sustained release and delayed release formulation.

Historical overview

The Tablet Coatings Market Size was analyzed qualitatively and quantitatively from 2019-2021. Most of the growth during this period was derived from the Asia-Pacific owing to the improving health awareness, rising disposable incomes, as well as the well-established presence of domestic companies in the region.   

Market dynamics

The tablet coating market has witnessed growth, owing to the increase in the geriatric population that are prone to chronic diseases, and the prevalence of chronic diseases such as diabetes, inflammatory bowel diseases, ulcer, and asthma that require sustained release and delayed release of drug for desired therapeutic action led to increasing in tablet coating.

For instance, according to the European respiratory review, in Europe, almost 10 million people <45 years of age have asthma. The prevalence of asthma in the European Union (EU) is 8.2% in adults and 9.4% in children.

In addition, the rise in heart diseases such as hypertension that require sustained release and delayed release of drugs drives the growth of the tablet coating market. For instance, according to the health hearty 2020 report, the incident rate of heart attacks per 10,000 people is around 190 for people who are over 85 years of age, and around 117 for those between 75-84 years of age. According to the National Center for Health Statistics, every year, more than 795,000 people in the U.S. have a stroke.

The rise in sports injuries and road accidents also increases the demand for sustained-release painkiller tablet and boost the growth of the tablet coating market. In addition, the rise in general surgery, cardiovascular surgery, central nervous system surgery, orthopedic surgery, and ophthalmic surgeries is also increasing the demand for sustained & delayed-release painkiller tablets and boosting the growth of the tablet coating market. For instance, Abdi Ibrahim company provides EC-Naprosyn 500 mg for relieving pain. For instance, data published by the American Society for Metabolic and Bariatric surgery in the U.S. itself, an estimated 278,000 bariatric surgeries were performed in 2019. Hence, all the factors boost the growth of the tablet coating market.

In addition, technological advancements; the launch of various products, and strategies among key players such as acquisition, collaboration, and agreement drive the growth of the tablet coating market. For instance, in October 2020, Evonik launched EUDRAGIT ready-to-use powder premix to improve the processing, appearance, and swallowability of oral drug products with an immediate release profile. EUDRAGIT IR ReadyMix White is fast and easy to process, with a high-gloss coating delivering an elegant optical appearance and superior swallowability outcomes.

Segmental Overview
The tablet coatings market is segmented into Polymer, Type, Functionality, and End User.

On the basis of polymer, the market is classified into cellulosic, vinyl, and acrylic. On the basis of type, the market is classified into sugar-coated, film-coated, enteric-coated, and gelatin-coated tablets. On the basis of functionality, it is classified into delayed-release, and sustained-release. Depending on the end user, it is fragmented into pharmaceutical, and nutraceutical. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Thailand and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, North Africa, Saudi Arabia, and rest of LAMEA).

By Polymer:

The tablet coating market is segmented into cellulosic, vinyl, and acrylic. On the basis of polymer, the cellulosic segment generated maximum revenue in 2021, 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.

Tablet Coatings Market by Polymer

By Type:

The tablet coating market is segregated into sugar-coated, film-coated, enteric-coated, and gelatin-coated tablets. The film-coated segment generated maximum revenue in 2021, owing to the high adoption of film-coated tablets and the increase in the geriatric population. Growth of the film-coated segment is also associated with a rise in the prevalence of diseases such as diabetes, asthma, and acidity, which leads to an increase in film-coating and boosts the growth of other segments. In addition, the growth of film-coated tablets is attributed to an increase in the application of film-coated tablets as health supplements such as nutrient compounds.

Tablet Coatings Market by Type

By Functionality:

The market is segmented into delayed-release, and sustained-release. The sustained release segment generated maximum revenue in 2021 and is expected to witness the highest CAGR during the tablet coatings market forecast period, owing to the rise in the prevalence of diseases such as asthma, diabetes, and hypertension that require sustained and controlled release of drugs, and increased in awareness regarding use of sustained release formulation for the treatment of diseases.

Tablet Coatings Market by Functionality

By End User:

The tablet coating market is classified into pharmaceutical, and nutraceutical. The pharmaceutical segment was the highest revenue contributor to the market in 2021 and is expected to witness the highest CAGR during the forecast period, owing to a rise in the prevalence of diseases, an increase in number of pharmaceutical industries, and an increase in number of geriatric populations. The rise in healthcare expenditure also boosts the growth of the pharmaceutical segment in the tablet coatings market.

Tablet Coatings Market by End User

By Region:

The tablet coating market is studies across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the tablet coating market in 2021 and is expected to maintain its dominance during the forecast period.

Presence of several major players, such as Ashland Global Holdings, Inc., Coatings Place Inc., Colorcon, Inc., Dupont De Nemours, Inc., and Eastman and advancement in manufacturing technology of coated tablet in the region drive the growth of the market. In addition, surge in соnсеrn аmоng реорlе fоr mаіntаіnіng а hеаlthу lіfеѕtуlе аnd соnѕіѕtеnt grоwth іn thе gеrіаtrіс рорulаtіоn, іnсrеаѕеѕ thе dеmаnd fоr tablet coating in the region, which is ехресtеd to рrореl the growth of the market. Furthermore, presence of well-established healthcare infrastructure, high purchasing power, and rise in adoption rate of coated tablet are expected to drive the market growth. Furthermore, product launch, mergers, collaborations, and acquisitions adopted by the key players in this region boost the growth of the market. In addition, surge in geriatric populations who require more sustained-release tablets for diseases, and availability of approved tablet coatings products with higher adoption of tablet coatings in diseases drives the growth of tablet coating market.

Asia-Pacific expected to grow at the highest rate during the forecast period. The market growth in this region is attributable to presence of pharmaceutical companies in the region as well as growth in the purchasing power of populated countries, such as China and India.

Tablet Coatings Market by Region

COMPETITION ANALYSIS

Competitive analysis and profiles of the major players in the tablet coating market, such as 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, and Ideal Cures Pvt. Ltd. are provided in this report. There are some important players in the market such as Ashland Global Holdings, Evonik Industries AG, and Colorcon, Inc. Major players have adopted product launches, mergers, and acquisitions as key developmental strategies to improve the product portfolio of the tablet coating market.  

Some examples of product launches in the market

In October 2022, Ashland introduced Klucel xtend hydroxypropyl cellulose (HPC) controlled release matrix former, designed to deliver unsurpassed process versatility and release profile efficiency. It is the latest addition to the company’s Klucel product line and further expands its controlled release portfolio.

In October 2020, Evonik launched EUDRAGIT ready-to-use powder premix to improve the processing, appearance, and swallowability of oral drug products with an immediate release profile. EUDRAGIT IR ReadyMix White is fast and easy-to-process, with a high-gloss coating delivering an elegant optical appearance and superior swallowability outcomes.

In November 2019, Ashland announced the launch of two new highly effective foam control agents for the water-based industrial coatings market. Drewplus L- 3500 and L-3510 foam control agents are the new standards in controlling macro and micro foam in high-shear spray-applied coatings, providing an excellent balance between activity and compatibility.

Acquisitions in the market

In October 2021, Colorcon Inc., a global leader in pharmaceutical film coatings and specialty excipients, acquired Mumbai-based Ideal Cures, which supplies coatings for tablets and capsules to the pharmaceutical and allied sectors. Colorcon acquired Ideal Cures for about $250 million.

Mergers in the market

In February 2021, DuPont’s Nutrition & Biosciences Business merged with IFF company. This combination of two companies creates a global ingredients and solutions leader serving consumer-oriented food & beverage, home & personal care and health & wellness end markets. The combined company will continue to operate under the name IFF. Shares of the combined company’s common stock will trade on the New York Stock Exchange under the symbol “IFF.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current Tablet Coatings Market trends, estimations, and dynamics of the tablet coatings market analysis from 2021 to 2031 to identify the prevailing tablet coatings market opportunity.
  • Market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • An in-depth analysis of the tablet coatings market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global tablet coatings industry.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes an analysis of the regional as well as global tablet coatings market trends, key players, market segments, application areas, and tablet coatings market growth strategies.

Tablet Coatings Market Report Highlights

Aspects Details
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Market Size By 2031

USD 4.1 billion

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Growth Rate

CAGR of 6.6%

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Forecast period

2021 - 2031

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Report Pages

286

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By Polymer
  • Cellulosic
  • Vinyl
  • Acrylic
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By Type
  • Sugar Coated
  • Film Coated
  • Enteric Coated
  • Gelatin-coated
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By Functionality
  • Delayed-Release
  • Sustained Release
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By End User
  • Pharmaceutical
  • Nutraceutical
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, India, Australia, South Korea, Thailand, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, North Africa, Rest of LAMEA)
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Key Market Players

ideal cures pvt. ltd., Coatings Place, Inc., Eastman, L'Air Liquide S.A., Ashland Global Holdings, Inc., evonik industries ag, Colorcon, Inc., DuPont de Nemours, Inc., biogrund gmbh, Aquadry Pharma Pvt. Ltd., Aries Exim Pvt. Ltd.

Analyst Review

This section provides opinions of top-level CXOs in the tablet coatings market. The use of tablet coatings has a positive effect on the treatment of diseases, such as achieving the desired therapeutic effect, controlled release of drugs in a particular interval of time, and desire onsite action.

The tablet coatings market has gained the interest of the healthcare industry, owing to the rise in a number of chronic diseases such as arthritis, and diabetes, as the increase in the geriatric population who are unable to remember taking a dose after a particular interval of time, and high incidences of cancers across the globe. In addition, an increase in the number of surgical procedures being conducted that require the sustained release of medicine for healing, an increase in the generic market, and an increase in focus on sports nutrition leads to high adoption of tablet coatings, which are expected to significantly boost the growth of the tablet coatings market. However, the high cost of coated tablets in comparison to conventional tablets restricts the growth of the market. On the contrary, unmet medical demands in developing countries are expected to provide remunerative opportunities for market expansion.

North America is expected to witness the highest growth, in terms of revenue, owing to the presence of robust healthcare infrastructure, the presence of key players, and the rise in healthcare expenditure. However, Asia-Pacific is anticipated to witness notable growth, owing to the rise in the geriatric population, unmet medical demands, initiatives by government & non-governmental organizations (NGO) to promote awareness regarding the use of tablet coatings in the treatment of diseases, and increase in public-private investments in the healthcare sector.

Author Name(s) : Suraj C Sajeev| Kunal Sahu | Roshan Deshmukh
Frequently Asked Questions?

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.

Asia-Pacific is expected to grow at the highest rate during the forecast period.

North America accounted for a major share of the tablet coating market in 2021 and is expected to maintain its dominance during the forecast period.

The tablet coatings market was valued at $2,219.4 million in 2021 and is estimated to reach $4,096.1 million by 2031, growing at a CAGR of 6.6% from 2022 to 2031.

Air Liquide S.A., Aquadry Pharma Pvt. Ltd., and Ashland Global Holdings, Inc. are a few top companies to hold major market share in tablet coating market

Yes

The are 10 companies profiled in the tablet coating market report.

Stringent regulations by governing bodies is one of the major restraints in the tablet coatings market.

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Tablet Coatings Market

Global Opportunity Analysis and Industry Forecast, 2021-2031