Tablet Coatings Market - Global Dominance of the Key Players


Posted March 23, 2022 by mmvaidya

Generic drugs are cost-effective and have similar therapeutic effectiveness and safety profiles as their branded counterparts. This market segment has received a boost due to the lower cost of generics.
 
According to the new market research report, "Tablet Coatings Market by Polymer (Cellulosic, Vinyl, Acrylic), Functionality (Delayed Release, Sustained Release), Type (Sugar Coated, Film Coated, Enteric Coated), End User (Pharmaceutical, Nutraceutical), COVID-19 Impact - Global Forecast to 2025", 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.

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Global Industry Growth Boosting 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.

Overview:

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, key market dynamics, and key player strategies.

Driver: Surge in the Generic Market

Generic drugs are cost-effective and have similar therapeutic effectiveness and safety profiles as their branded counterparts. This market segment has received a boost due to the lower cost of generics. In 2018, the US healthcare system was able to save around USD 292.6 billion due to the increased adoption of generic drugs; Medicare and Medicaid saved USD 90.3 billion and USD 46.8 billion, respectively (Source: Association of Accessible Medicines). Considering such cost advantages, governments in various countries are promoting the use of generic drugs. Generics are gaining traction globally.

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Key Players:

The prominent players in this market are 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), and Merck KGaA (Germany).

Growth Strategies Adopted:

In the last few years, a number of smaller players have emerged from niche markets and are competing with global players based on price and technological innovation. Due to the intense competition in the market, major market players are increasingly focusing on expanding their geographic presence into high-growth emerging markets and strengthening their competitiveness in the market by acquiring smaller players with desired technological capabilities or geographic presence.

Colorcon held the leading position in the tablet coatings market in 2019. The company a wide range of immediate-release, enteric-release and sustained-release tablet coatings, along with controlled-release excipients. Colorcon is also engaged in offering a wide range of services for pharmaceutical and nutraceutical formulation development. These services range from dissolution design and patient adherence to productivity, stability, and product authentication services. The company’s Colorcon Academy offers a series of professional programs developed to increase your technical knowledge and regulatory understanding in the areas of film coating, core formulation, excipient selection and controlled release of solid oral dosage forms.

Sensient Technologies Corporation held the second position in the global market. The company has a diversified product portfolio, which comprises of a wide range of immediate release and modified release tablet coating excipients. Sensient’s leading position in the market is attributed to its research and development activities, strong manufacturing capabilities, and wide distribution footprint across the world, which enables it to serve customers in more than 150 countries. The company’s growth strategy for the pharmaceutical excipients business mainly concentrates on expanding its product portfolio and meet rising consumer demand.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags tablet coatings , tablet coatings market
Last Updated March 23, 2022