The global tablet coatings market is expected to develop at a CAGR of 5.8 per cent over the forecast period, from USD 779 million in 2020 to USD 989 million in 2025. The primary reason for the market's significant growth is the growth of the pharmaceutical market, which is fuelled by increased R&D activities and clinical trial studies. Furthermore, the market is being driven by the rising adoption of oral formulations among the growing geriatric population, the rising adoption of orphan drugs, and the uptake of biopharmaceuticals.
Coating tablets and pellets are some of the oldest medicinal procedures that are still carried out using modern machinery. The coating is a process in which a dry internal layer of coating material is applied on the outward layer of a dosage form to confer particular advantages over the uncoated component.
From 2020 to 2025, the Asia Pacific Pharmaceutical Coating Market is projected to expand at the fastest pace. Increased outsourcing of drug production to specialist contract manufacturing organisations (CMOS), an increase in the number of companies establishing manufacturing units in these countries, favourable government regulations, low labour and manufacturing costs, and a broad base for the generation of generics and biologics are all expected to fuel the market growth during the forecast period.
In 2019, the category of cellulosic polymers held the largest share of the global tablet coatings market. The high adoption of these polymers can be attributed to their ability to shape coatings with generally acceptable properties including good film strength, aqueous solubility, and compressibility, as well as less sensitivity to wet granulation, flowability, and better tabletting at a low price. The adoption of these polymers for coating applications is also influenced by factors such as global regulatory approval and ready availability from a variety of vendors.
Generic medications are less expensive than branded drugs and have comparable clinical efficacy and safety profiles. The lower cost of generics has given this business segment a boost. Because of the expanded use of generic medications, the US healthcare system was able to save about USD 292.6 billion in 2018. Medicare and Medicaid saved USD 90.3 billion and USD 46.8 billion, respectively, in 2018.
Because of these cost savings, governments around the world are encouraging the use of generic medications. Generics are gaining popularity around the world. This is attributed to a large number of medications losing their patent protection, as well as healthcare changes that benefit generics.
In the forecast era, rising affordability and healthcare spending in developing economies is expected to drive generics sales volume. This is viewed as a positive indicator of excipient development, such as tablet coatings.
Because of the entry of active mass customers seeking healthy living and wellness, sports nutrition is now one of the fastest-growing and largest supplement markets. One of the early adopters of dietary supplements was the sports nutrition industry. Although sports powders, beverages, and bars are the most common protein delivery forms (and account for the majority of sales in sports nutrition), there is still demand for a wide variety of supplements in other delivery forms. Acid-sensitive ingredients such as creatine (for energy), enzymes (for digestion and inflammation), amino acids (for endurance and muscle recovery), and probiotics are ideal for HPMC capsules with specific acid-resistant properties (for digestive health). Lipid multi-particulates (LMP) technology allows for customised release and taste masking. Such formulations can help with a variety of issues related to exercise rehabilitation and overall health.
With the current shifts in government policies around the world, upcoming trade policies could pose a challenge for the pharmaceutical industry, and thus the excipients industry. Furthermore, rising safety and quality issues, rising counterfeit drug penetration, shifting trade policies among countries, and alcohol dose-dumping of sustained-release dosages all pose significant challenges to the market's development.
COVID-19 Impact on the Global Tablet Coating Market
The pharmaceutical and nutraceutical industries also gained traction as a result of COVID-19. Pharmaceutical drugs to treat COVID-19 are currently in high demand. This is expected to increase demand for tablet coating excipients, for example. COVID-19 has a clinical trial pipeline of 155 molecules in different stages of development.
Higher stages of development (namely phase 2 trials) account for the majority of the drug development pipeline since the majority of molecules are repurposed medicines that have already been licenced for other infections and inflammatory diseases. Furthermore, compassionate use permits the use of an unlicensed medication when no other alternatives for treating high-risk patients are available (licencing can take years or decades).
Market Key Players
Some of the key players in the tablet coating market are:
Global Tablet Coatings Market Coverage
Process Insight and Forecast 2015-2025
Functionality Insight and Forecast 2015-2025
Global Tablet Coating Market by Region
Rest of the World (RoW)