Global Tablet Coatings Market to reach USD 107 billion by 2027.Global Tablet Coatings Market is valued approximately USD 73 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.73% over the forecast period 2021-2027. Tablet Coatings is a process by which essentially dry, outer layer of coating material is applied to the surface of a dosage form in order to confer specific benefits over uncoated variety. Over the time, coating processes have developed form those who are more technologically advanced and controlled such that compliance. And that is how good manufacturing practices (GMPs) is facilitated. Surge in the generic market and generic drugs are cost-effective and have therapeutic effectiveness and safety. In 2018, the US healthcare system saved around USD 292.6 billion because of increase in adoption of generic drugs. Medicare and Medicaid saved USD 90.3 billion and USD 46.8 billion respectively. In many countries' government are promoting the use of generic drugs because of cost advantage. Also, growing pharmaceutical market leads to drive growth in the global tablet coating market. According to Indian Economy survey 2021, the domestic market id expected to grow 3x in the next decade. India's domestic pharmaceutical market is estimated at USD 42 billion in 2021 and likely to reach USD 120-130 billion by 2030. However, unfavorable price control policies in drug impedes the growth of the market over the forecast period of 2021-2027. Also, rise in sport nutrition market, as consumers seeking healthy living and fitness is likely to increase the market growth during the forecast period.
The regional analysis of global Tablet Coatings market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Europe is the leading region across the world in terms of market share owing to large number of pharmaceutical giants and along with this large production capacity leading to high consumption od excipients. Whereas, North America is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rise in elderly population would create lucrative growth prospects for the Tablet Coatings market across Asia-Pacific region.
Major market player included in this report are:
Sensient Technologies Corporation
Evonik Industries AG
Ashland Global Holdings Inc.
DuPont De Numeours Inc.
Kerry Group plc
Eastman Chemical Company
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Polymer Type:
Non-functional non-modifying coatings
Functional modifying coatings
Functional non-modifying coatings
Other tablet coatings
By End User:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Tablet Coatings Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers