According to TechSci Research report, “Sustained Release Coatings Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Sustained Release Coatings Market stood at USD 567.21 million in 2022 and is anticipated to grow with a CAGR of 4.29% in the forecast period, 2023-2028. The initiatives taken by the government based on sustained release coatings have led to favorable market conditions for the Global Sustained Release Coatings Market. Several factors contribute to the growth of various sustained release coatings products.
The Biden-Harris administration has taken several significant steps to protect communities from the harmful effects of lead in drinking water and paint. One of these crucial actions is the implementation of the Lead Pipe and Paint Action Plan, which involves multiple government agencies working together through the Lead-Based Paint Hazard Reduction program. This comprehensive plan aims to tackle the issue of lead-based coatings by reducing their prevalence and promoting the use of safer alternatives, such as sustained release coatings.
Governments worldwide have shown a growing interest in supporting research and development in the field of biopolymer-based physical and chemically crosslinked hydrogels, as well as hydrogel coatings for sustained drug release. These innovative coatings not only offer a sustainable and environmentally friendly approach, but they also provide a promising solution for achieving controlled and targeted drug release. By investing in these advancements, governments are paving the way for the development of safer and more effective sustained release coatings that can have a positive impact on public health and the environment.
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The demand for sustained release coatings in various drugs and medications is primarily driven by the increasing need in pediatric and geriatric dose segments. These sustained-release coatings are specifically designed to release the drug over a specific period, utilizing advanced technology compared to conventional dosage forms. Furthermore, the rising demand for sustained-release drugs can be attributed to the benefits they offers to the pediatric and geriatric population, including improved patient compliance, reduced dosing frequency, and other advantages.
To emphasize the importance of catering to the needs of pediatric patients, the Pediatric Research Equity Act (PERA) has implemented a carrot-and-stick technique to incentivize the development of medicines specifically for this population. By adopting sustained-release coatings drug delivery systems, both the pediatric and geriatric populations can benefit from extended-release capabilities and lower dosages, resulting in better treatment compliance and relief from challenges such as difficulty swallowing or poor taste. As a result, the sustained-release coatings market continues to grow, driven by the increasing demand from the geriatric and pediatric dosage segments.
The Global Sustained Release Coatings Market is segmented into material type, application, regional distribution, and company
Based on its application, the in vitro segment held the largest share in the market. This is a direct consequence of pharmaceutical corporations significantly increasing their investments in research and development, prioritizing the advancement of scientific knowledge and innovation.
Based on region, the North America segment is expected to grow during the forecast period.
This can be attributed to the fact that the target market is currently witnessing a notable surge in demand for microencapsulated capsules, tablets, and pills. This increased demand can be attributed to various factors such as the growing awareness among consumers about the benefits of microencapsulation technology, the rising popularity of controlled-release drug delivery systems, and the expanding application areas of microencapsulated products in industries such as pharmaceuticals, nutraceuticals, and cosmetics.
Major companies operating in Global Sustained Release Coatings Market are:
- BASF SE
- Evonik Industries AG
- Colorcon, Inc.
- Coating Place, Inc.
- Mylan N.V.
- Pfizer, Inc.
- Novartis AG
- GlaxoSmithKline plc
- Sun Pharmaceutical Industries Ltd.
- Eastman Chemical Company
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“Growing application of sustained release coatings in various end-user industries are key drivers of the sustained release coatings market. Growth in the competitive landscape and presence of well-established companies in the market who are dedicated to enhancing their productivity of sustained release coatings with every passing year is anticipated to register impressive growth in the Global Sustained Release Coatings Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Sustained Release Coatings Market By Material Type (Ethyl & Methyl Cellulose, Polyvinyl Alcohol, Methacrylic Acid Copolymer, Cellulose Acetate, Others), By Application (In Vitro, In Vivo), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Sustained Release Coatings Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Sustained Release Coatings Market.
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Table of Content-Sustained Release Coatings Market
- Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
- Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
- Global Sustained Release Coatings Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value
4.2. Market Share & Forecast
4.2.1. By Material Type (Ethyl & Methyl Cellulose, Polyvinyl Alcohol, Methacrylic Acid Copolymer, Cellulose Acetate, Others)
4.2.2. By Application (In Vitro, In Vivo)
4.2.3. By Region
4.2.4. By Company (2022)
4.3. Market Map
4.3.1. By Material Type
4.3.2. By Application
4.3.3. By Region
- Asia Pacific Sustained Release Coatings Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Material Type
5.2.2. By Application
5.2.3. By Country
5.3. Asia Pacific: Country Analysis
5.3.1. China Sustained Release Coatings Market Outlook
5.3.1.1. Market Size & Forecast
5.3.1.1.1. By Value
5.3.1.2. Market Share & Forecast
5.3.1.2.1. By Material Type
5.3.1.2.2. By Application
5.3.2. India Sustained Release Coatings Market Outlook
5.3.2.1. Market Size & Forecast
5.3.2.1.1. By Value
5.3.2.2. Market Share & Forecast
5.3.2.2.1. By Material Type
5.3.2.2.2. By Application
5.3.3. Australia Sustained Release Coatings Market Outlook
5.3.3.1. Market Size & Forecast
5.3.3.1.1. By Value
5.3.3.2. Market Share & Forecast
5.3.3.2.1. By Material Type
5.3.3.2.2. By Application
