Tablet Coatings Market Share, Size, Trends, Industry Analysis Report, By Polymer (Cellulosic, Vinyl, Acrylic); By Functionality; By Type; By End User; By Region; Segment Forecast, 2023 - 2032
- Published Date:May-2023
- Pages: 118
- Format: PDF
- Report ID: PM3284
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global tablet coatings market was valued at USD 807.23 million in 2022 and is expected to grow at a CAGR of 5.7% during the forecast period. Growth in wellness products and services is a significant factor that is driving the growth of the pharmaceutical tablet coatings market. According to McKinsey insights, the market for wellness products and services is expected to reach more than USD 1.5 trillion by 2020, growing at a rate of 5 to 10% annually. Companies have plenty of options due to a growth in consumer interest and buying power, especially now that personal wellness spending has recovered after stagnating or even dropping during the COVID-19 crisis. This will further create a wide range of opportunities for the tablet coatings market in the upcoming years.
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An increase in R&D activities in the pharmaceutical industry is driving the demand for specialized and innovative tablet coatings. Throughout, the past 20 years, there has been a growth in R&D spending as well as the launch of new drugs in 2019, the pharmaceutical industry spent USD 83 billion on research & development. As new drugs are developed and existing ones are improved, there is a growing need for tablet coatings that can provide the necessary protection and enable effective delivery.
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Industry Dynamics
Growth Drivers
The tablet coatings market is expected to experience growth in the coming years due to Increasing Demand for Oral Solid Dosage Forms. With the growing demand for oral solid dosage forms, the demand for tablet coatings is expected to increase. Tablet coatings help to improve the appearance, taste, and stability of tablets, making them more attractive to consumers. Advancements in coating technology have led to the development of innovative coatings that offer better protection and improved drug release profiles. These advancements are expected to drive the growth of the tablet coatings market.
The prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases is increasing worldwide. This has led to an increase in the demand for drugs and, consequently, the demand for tablet coatings. The pharmaceutical industry is growing at a rapid pace, particularly in emerging markets. This growth is expected to drive the demand for tablet coatings as more drugs are developed and manufactured. The use of nutraceuticals is on the rise, particularly in developed countries. Nutraceuticals are often encapsulated or coated to protect them from degradation and improve their delivery to the body. This is expected to drive the demand and growth for the market.
The COVID-19 pandemic has led to an increased demand for certain types of drugs, such as antivirals, antibiotics, and immunomodulators. These products often require specialized tablet coatings to ensure their effectiveness and safety. As a result, the demand for pharmaceutical tablet coatings has increased for these specific products. The All-India Organization of Chemists and Druggists (AIOCD) - AWACS report states that Indians spent more money on vitamin supplements and other immunity boosters between January 2020 and May 2021 than they had the year before as the demand for drugs used to treat Covid-19 increased both directly and indirectly.
Report Segmentation
The market is primarily segmented based on polymer, functionality, type, end user, and region.
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By Polymer |
By Functionality |
By Type |
By End User |
By Region |
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Cellulosic Segment is expected to witness the fastest growth over the forecast period
Cellulosic Segment is expected to fuel the growth of the market in the coming future. There is a growing demand for natural and biodegradable coatings in the pharmaceutical industry, which has led to increased use of cellulosic coatings. Cellulosic coatings are made from renewable resources and are biodegradable, making them an environmentally friendly option. Increasing demand for cellulose as they are generally less expensive than other types of coatings, making them a cost-effective option for pharmaceutical companies. They are versatile and can be used with a wide range of drugs, including those that are sensitive to heat, moisture, or light. They are also compatible with a range of manufacturing processes and can be applied to tablets, capsules, and pellets.
Sustained release segment is expected to witness significant growth
Sustained release segment is expected to fuel the growth of the tablet coatings market as sustained-release tablets allow for a slow and controlled release of the drug, which can improve patient compliance and reduce the frequency of dosing. This is particularly important for patients with chronic conditions who require long-term medication. Pharmaceutical companies are increasingly looking to develop sustained-release formulations for their drugs, as they offer several advantages over traditional immediate-release formulations. This is expected to drive the demand for sustained-release tablet coatings in the market.
Film coated segment accounted for the largest market share in 2022
Film coatings can enhance the aesthetic appeal of tablets by adding color and gloss, which makes them more attractive to consumers. The use of film coatings can also improve the taste and odor of the tablets, which can improve patient compliance. Film coatings protect the tablets from moisture, light, and air, which can cause degradation of the active ingredients. The use of film coatings can increase the shelf life of the tablets and improve the stability of the drug. This will further create a wide range of opportunities for the growth of the market.
Pharmaceutical Industry is expected to hold the highest revenue share
Pharmaceutical Industry is the largest end-user of tablet coatings and is expected to further fuel the growth of the market. As the industry continues to develop new drugs, it is also driving demand for advanced and specialized coatings that can improve drug delivery, enhance stability, and improve patient compliance. This industry invests heavily in research and development activities to discover and develop new drugs. As a result, there is a growing demand for advanced coatings that can provide targeted drug delivery and controlled release, which is expected to drive the growth of the tablet coatings market. The pharmaceutical industry is increasingly focused on personalized medicine, which involves the use of tailored therapies to treat specific patient populations. This trend is driving demand for specialized coatings that can provide targeted drug delivery and improved therapeutic efficacy.
The demand in Asia Pacific is expected to have a higher growth rate
The Asia-Pacific region is expected to have a higher growth rate in the market. This region has a large and growing population, which is expected to drive demand for drugs and dietary supplements. According to Worldometers info, the Asian population is equal to 59.76% of the population of the entire planet. This is expected to increase the demand for coated tablets and drive the growth of the market. There is a growing health awareness among consumers in the Asia-Pacific region, which is driving demand for nutraceuticals and functional foods. These products often use coated tablets for improved bioavailability and stability, which is expected to drive the growth of the market.
North America has a higher revenue share in the tablet coatings market. The prevalence of chronic diseases, such as cardiovascular diseases, diabetes, and cancer, is on the rise in North America. Sales of nutritional supplements climbed by 5% ($345 million) in the United States in 2019 compared to the previous year, before the epidemic. Nonetheless, sales increased in the six weeks prior to April 2020, during the first wave of the pandemic, by 44% ($435 million), as compared to the same period in 2019. This is driving the demand for drugs and dietary supplements, which in turn is driving the demand for coated tablets.
Competitive Insight
Some of the major players operating in the global market include Colorcon, Sensient Technologies, BASF, Evonik Industries, Ashland Global Holdings, Du Pont, Kerry Group, Roquette Freres, Eastman Chemical, Air Liquide, and Merck.
Recent Developments
- In January 2023, Colorcon, entered into a put agreement to buy Airnov Healthcare, a portfolio business of private equity firm Arsenal Capital Partners.
- In December 2023, BASF & StePac are in partnership in order to develop the next generation of environmentally friendly packaging exclusively for the fresh produce industry.
Tablet Coatings Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 849.77 million |
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Revenue Forecast in 2032 |
USD 1,401.86 million |
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CAGR |
5.7% from 2023- 2032 |
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Base year |
2022 |
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Historical data |
2019- 2021 |
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Forecast period |
2023- 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments Covered |
By Polymer, By Functionality, By Type, By End User, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Colorcon, Sensient Technologies Corporation, BASF, Evonik Industries, Ashland Global Holdings, DuPont De Numeours, Kerry Group plc, Roquette Freres, Eastman Chemical Company, Air Liquide, and Merck |
FAQ's
key companies in tablet coatings market are Colorcon, Sensient Technologies, BASF, Evonik Industries, Ashland Global Holdings, Du Pont, Kerry Group, Roquette Freres, Eastman Chemical, Air Liquide, and Merck.
The global tablet coatings market expected to grow at a CAGR of 5.7% during the forecast period.
The tablet coatings market report covering key segments are polymer, functionality, type, end user and region.
key driving factors in tablet coatings market are rising R&D activities in the pharmaceutical industry.
The global tablet coatings market size is expected to reach USD 1,401.86 million by 2032.
