Tablet Coatings Market Size to Witness Significant Growth during 2021-2031
Tablet Coatings Market: Overview
The increasing adoption of orphan drugs and the rising popularity of generics in the medical sector is a prime factor augmenting the growth of the global tablet coatings market. Tablet coating is the external covering of a tablet with a layer/substance. The coats utilized reach from the conventional glossing over to the current polymer and polysaccharides-based coats.
The global tablet coatings market is classified based on polymer type, functionality, type, end-user, and region. In terms of polymer type, the market is grouped into cellulosic polymers, vinyl derivatives, acrylic polymers, and other polymers. As per functionality, the market is grouped into functional modifying coatings, functional non-modifying coatings, and non-functional non-modifying coatings. Concerning segmentation by type, the market is divided into gelatin-coated tablets, enteric-coated, sugar-coated, film-coated, and other tablet coatings. Based on end-user, the market is bifurcated into the nutraceutical industry and pharmaceutical industry.
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The report offers a qualitative and quantitative analysis of the tablet coatings market and focuses on recent trends and innovations that will shape the future of this market in terms of demand and sales revenue. It throws light on the table of segmentation and mentions the name of the leading segment with factors attributing to its growth. Additionally, the report also highlights the key drivers, restraints, challenges, and upcoming growth opportunities that will shape the future of this market. The report also describes the impact of the COVID 19 pandemic on this market and how can manufacturers benefit from it by using various growth strategies. For more information on the report, log on to the company website.
Tablet Coatings Market: Nature of Competition
The competitive landscape of the global tablet coatings market is highly fragmented on account of the presence of multiple players. The key objective of players includes revenue generation based on increased demand and product supply. Merger and acquisition strategies, joint ventures, and other collaborations will help various players gain a strategic position in the overall market competition. The report lists the name of players that are operating in the market currently and their key contributions in the form of innovations and trends.
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Some of the key players operating in this market include:
- Evonik Industries AG
- Merck KGaA
- BASF SE
- Colorcon Inc.
- Eastman Chemical Co.
- Kery Group plc
- Ashland Global Holdings Inc.
- Air Liquide S.A.
- Eastman Chemical Company
- Roquette Freres
Tablet Coatings Market: Innovations
- BASF Group launched Innovation Campus in the Asia Pacific in India in 2017 to make this section the largest R& D in the South Asian continent. A major investment of 61.6 million Euros was made by the company to increase the number and rate of research and development activities.
- Aquarius Nutra TF was launched by Ashland in 2019 for providing titanium oxide-based coating to tablets in the European market.
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Tablet Coatings Market: Trends and Opportunities
Nonexclusive medications are practical and have comparable remedial viability and security profiles as their marked partners. This market section has gotten a lift because of the lower cost of generics. Thinking about such expense benefits, governments in different nations are advancing the utilization of conventional medications. Generics are acquiring footing around the world. This is because of countless medications going off-patent and medical care changes preferring generics. As indicated by industry specialists, conventional disintegration (coming about because of the patent precipice) is relied upon to bring about critical income and volume misfortunes for the marked medications industry. This will empower the passage of less expensive nonexclusive partners on the lookout, which will help the volume of medications sold. Furthermore, the developing reasonableness and expanding medical services use in arising economies are relied upon to drive the business volume of generics in the figure time frame. This is viewed as a positive pointer of the development of the excipients like tablet coatings.
Tablet Coatings Market: Geographical Insights
Region-wise, Europe dominated the market with North America in close competition. Besides this, the presence of several pharmaceutical giants with high production capabilities is likely to aid in the expansion of the European market. Additionally, the increasing focus on generics, biosimilars, and pharmaceutical products will further help create lucrative growth opportunities for the market in the coming years.
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