Major Technological Innovations are Expected in the Global Tablet Coatings Market

Research Methodologies Followed:

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology and innovation directors, and related key executives from various key companies and organizations operating in the tablet coatings market.

The primary sources from the demand side include industry experts such as experts from drugs manufacturing companies, nutraceutical companies, and contract manufacturing organizations.

Secondary Research:

This research study involved the use of comprehensive secondary sources; directories and databases such as D&B, Bloomberg Business, and Factiva; and white papers, annual reports, and company house documents. Secondary research was used to identify and collect information for this extensive, technical, market-oriented, and commercial study of the global tablet coatings market. It was also used to obtain important information about the top players, market classification, and segmentation according to industry trends to the bottom-most level, geographic markets, technology perspectives, and key developments related to the market. A database of the key industry leaders was also prepared using secondary research.

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Projected Revenue Surge:

The tablet coatings market is projected to reach USD 969 million by 2025 from USD 739 million in 2020, at a CAGR of 5.6% during the forecast period.

Market Size Estimation:

The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by polymer type, functionality, type, end user, and region).

Data Triangulation:

After arriving at the market size, the total tablet coatings market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments & subsegments, data triangulation, and market breakdown procedures were employed, wherever applicable.

Global Industry Growth Influencing Factors:

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.

Additionally, the shifting focus of pharmaceutical manufacturing to emerging markets along with the increasing outsourcing of operations to these countries and the growing biologics and biosimilars industry present significant opportunities for market growth. The rising focus on sports nutrition and the technological advancements taking place in niche market areas also offers significant growth opportunities for players operating in this space.

On the other hand, 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 are expected to restrain the growth of this market during the forecast period.

Additionally, increasing safety & quality concerns, increasing penetration of counterfeit drugs, changing trade policies among countries and alcohol dose-dumping of sustained-release dosages pose significant challenges to the growth of this market.

End Users:

The pharmaceutical industry end-user segment is expected to account for the largest share of the tablet coatings market

The tablet coatings market, by end-user, is segmented into pharmaceutical and nutraceutical industry. The pharmaceutical industry segment accounted for the largest market share in 2019. The demand for tablet coatings in the pharmaceutical industry is largely driven by the increasing number of drugs launched as tablet formulations and growing prevalence of diseases for which tablet-based formulations form the primary treatment. The rising demand for innovative drug delivery formulations is also supporting the growth of the tablet coatings market for the pharmaceutical industry.

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Geographical Growth Scenario:

Asia Pacific is expected to account for the highest CAGR for players operating in the tablet coatings market

The Asia Pacific tablet coatings market is expected to grow at the highest CAGR from 2020 to 2025. Increase in outsourcing of drug manufacturing to specialized contract manufacturing organizations (CMOs), rising number of companies setting up manufacturing units in these countries, favorable government regulations, low labor and manufacturing costs, and the large base for the generation of generics & biologics are factors expected to drive the growth of the market during the forecast period.

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