Tablet Coatings Market is Expected to Reach $969 million | MarketsandMarkets.

Chicago, July 17, 2023 (GLOBE NEWSWIRE) — In the near future, the tablet coatings industry is poised for significant advancements and transformations. Rapid advancements in technology, coupled with growing consumer demands, are driving the development of innovative coatings that enhance both the functionality and aesthetics of tablets. Coatings with improved durability, scratch resistance, and antimicrobial properties are expected to gain prominence, ensuring the longevity and cleanliness of tablet surfaces. Moreover, the industry is likely to witness the rise of environmentally friendly coatings, addressing the growing concerns about sustainability. Nanotechnology and smart coatings are also anticipated to play a crucial role, enabling functionalities like self-healing, fingerprint resistance, and even interactive displays. As tablets continue to be indispensable devices in various sectors, including healthcare, education, and entertainment, the tablet coatings industry is set to undergo a dynamic evolution to meet the evolving needs of consumers and revolutionize the tablet experience as we know it.

Tablet Coatings market in terms of revenue was estimated to be worth $739 million in 2020 and is poised to reach $969 million by 2025, growing at a CAGR of 5.6% from 2020 to 2025 according to a latest report published by MarketsandMarkets™. The growth of the pharmaceutical market along with the increasing R&D activities & clinical trial studies is the primary reason the market is witnessing significant growth. Furthermore, the growing adoption of oral formulations among the growing geriatric population, rising adoption of orphan drugs, and increasing uptake of biopharmaceuticals are driving the growth of the market. The emergence of multifunctional excipients, shifting focus of pharmaceutical manufacturing to emerging markets, rising focus on nutraceuticals, and the growing biosimilars industry also present significant growth opportunities for market players. However, the increasing regulatory stringency and the cost and time-intensive drug development process are expected to restrain the growth of this market to a certain extent during the forecast period.

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Tablet Coatings Market Scope:

Tablet Coatings market major players covered in the report, such as:

• Colorcon Inc. (US)
• Sensient Technologies Corporation (US)
• BASF SE (Germany)
• Evonik Industries AG (Germany)
• Ashland Global Holdings Inc. (US)
• DuPont De Numeours Inc. (US)
• Kerry Group plc (Ireland)
• Roquette Freres (France)
• Eastman Chemical Company (US)
• Air Liquide S.A. (France)
• Merck KGaA (Germany)
• Corel Pharma Chem (India)
• Biogrund GmbH (Germany)
• Ideal Cures Pvt. Ltd. (India)
• Wincoat Colours & Coatings Pvt. Ltd. (India)
• Spectrum Chemical Mfg. Corp. (US)
• Coating Place Inc. (US)
• Lubrizol Corporation (US)
• Aquadry Pharma Pvt. Ltd. (India)
• Aries Exim Pvt. Ltd. (India)
• and Among Others

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The study categorizes the Tablet Coatings Market based on polymer type, functionality, type, end user, and regional and global level.

Global Tablet Coatings Market, by Polymer Type                                             

• Cellulosic Polymers
• Vinyl Derivatives
• Acrylic Polymers
• Other Polymers

Global Tablet Coatings Market, by Functionality              

• Non-functional non-modifying coatings
• Functional modifying coatings
• Functional non-modifying coatings

Global Tablet Coatings Market, by Type

• Film-coated tablets
• Sugar-coated tablets
• Enteric-coated tablets
• Gelatin-coated tablets
• Other tablet coatings

Global Tablet Coatings Market, by End User       

• Pharmaceutical Industry
• Nutraceutical Industry

Global Tablet Coatings Market, by region

• North America
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Switzerland
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa

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The key stakeholders in the Tablet Coatings market include:

• Pharmaceutical Companies: Pharmaceutical companies are major stakeholders in the tablet coatings market as they manufacture and distribute tablets. They have a vested interest in ensuring that tablets are coated with high-quality coatings that provide the desired properties, such as improved appearance, protection, and ease of swallowing.
• Tablet Manufacturers: Tablet manufacturers play a crucial role in the market as they are responsible for the production and assembly of tablets. They collaborate with coating suppliers to select appropriate coatings that meet their requirements and enhance the overall quality and appeal of the tablets.
• Coating Suppliers: Coating suppliers are essential stakeholders in the tablet coatings market. They develop, produce, and supply a wide range of coatings to pharmaceutical companies and tablet manufacturers. These suppliers are responsible for ensuring that the coatings meet regulatory standards, offer desired functionalities, and are compatible with the manufacturing processes.
• Regulatory Authorities: Regulatory authorities, such as the Food and Drug Administration (FDA) in the United States and the European Medicines Agency (EMA) in Europe, play a critical role in the tablet coatings market. They establish and enforce regulations and guidelines related to tablet coatings to ensure safety, efficacy, and quality standards are met.
• Research Institutions and Academia: Research institutions and academia contribute to the tablet coatings market by conducting studies, developing new coating technologies, and advancing scientific knowledge in the field. Their research efforts drive innovation, promote sustainable practices, and shape the future of tablet coatings.
• Consumers: Consumers are an important stakeholder group as they ultimately use and benefit from tablets coated with various formulations. Their preferences, expectations, and feedback influence the demand for specific coating properties such as taste masking, color options, ease of swallowing, and overall tablet aesthetics.
• Packaging and Labeling Companies: Packaging and labeling companies play a supporting role in the tablet coatings market. They provide solutions for protecting and labeling coated tablets, ensuring proper information dissemination, and maintaining the integrity of the product throughout its lifecycle.

Frequently Asked Questions (FAQs) of Tablet Coatings Market:

Q1. What is the total market value of Tablet Coatings Market report?

Q2. Which are the top companies holding the market share in Tablet Coatings Market?

Q3. Which are the largest regions for this Market?

Q4. What is the leading technology of Tablet Coatings Market?

Q5. What are the major drivers for this specific Market?

Q6. What are the upcoming key trends in the Tablet Coatings Market report?

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Recent Developments:

• In 2020, Colorcon launched the Acryl-EZE II film coating line which extends the pH range covered by its enteric coatings.
• In 2020, Evonik launched the EUDRATEC Fasteric releases, an advanced oral drug delivery technology that provides enteric protection followed by rapid, homogeneous release for effective targeting of the upper small intestine.
• In 2019, Ashland announced the launch of Aquarius Nutra TF, which provides titanium oxide-based coating to tablets in the European market.
• In 2019, Kerry Group opened its new USD 22 million (EUR 20 million) state-of-the-art facility in Bangalore, India to serve the Taste & Nutrition business division’s global and regional customers in the Southwest Asia region.
• In 2017, BASF Group opened the Innovation Campus Asia Pacific in India, marking the largest R&D investment in South Asia. The company invested USD 61.6 million (EUR 50 million) in this center to increase its global and regional research activities.

Related Reports:

Pharmaceutical Excipients Market

Active Pharmaceutical Ingredient Market

High Potency APIs Market

Pharmaceutical Drug Delivery Market

Autoinjectors Market

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