Tablet Coatings Market Overview:
For the Tablet Coatings market analysis, a research team conducted a significant amount of primary and secondary research. In order to supplement the available data, segment the market, determine the total market size, and forecast market size and growth rate, secondary research was conducted.
During the forecast period, increasing regulatory stringency regarding drug and excipient approval, as well as the costly and time-consuming drug development process; the high cost associated with the microencapsulation process; and unfavorable drug price control policies are expected to restrain the growth of tablet coatings market. Besides, rising safety and quality issues, rising counterfeit medicine penetration, shifting trade rules across nations, and alcohol dose-dumping of sustained-release dosages all represent substantial barriers to the market’s growth.
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Tablet Coatings Market Dynamics:
The increasing pharmaceutical sector, as well as increased R&D activity in this space, are driving tablet coatings market growth. The tablet coatings market is also being supported by the growing generics market, the quickly growing biopharmaceuticals sector, the growing nutraceutical industry, and the rising adoption of orphan medications. Besides, the burgeoning biologics and biosimilars industry, as well as the shifting focus of pharmaceutical manufacture to emerging markets and the increasing outsourcing of operations to these nations, present considerable prospects for market growth. The growing emphasis on sports nutrition, as well as technology improvements in niche markets, provide considerable growth prospects for businesses in this industry.
Tablet Coatings Market Segmentation:
The market is divided into Cellulosic Polymers, Vinyl Derivatives, Acrylic Polymers, and Other Polymers based on the type of polymer. The segment for cellulosic polymers is anticipated to expand quickly between 2021 and 2027. The high acceptance of cellulosic polymers may be attributed to their capacity to produce coatings with widely regarded properties like strong film strength, aqueous solubility and compressibility, decreased sensitivity to wet granulation, flowability, and better tableting at an affordable price. The acceptance of these polymers by international regulatory bodies and their ready availability from a variety of vendors are additional factors that have an impact on their popularity for coating applications. These are the elements that are anticipated to fuel the Cellulosic Polymers segment’s expansion within the Tablet Coatings market from 2021 to 2027.
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Tablet Coatings Market Key players:
- 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)
COVID-19 Impact on Tablet Coatings market:
The COVID-19 outbreak has had a significant impact on the Tablet Coatings market. Due to the global economic downturn and a labour shortage, the development of Tablet Coatings production facilities has been halted. The pandemic of COVID-19 has resulted in a significant and long-term decrease in production utilisation. Furthermore, travel restrictions and facility closures have hampered staff visits, limiting the growth of the Tablet Coatings market in 2020. However, given the high demand for Tablet Coatings, the market effects of COVID-19 are expected to be transient. The industry is expected to fully recover by early 2021.
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