Tablet Coatings Market to Expand at a CAGR of 5.3% from 2022 to 2031

Global Tablet Coatings Market Outlook 2031

• The global tablet coatings market was valued at US$ 824 Mn in 2021

• The global market is projected to expand at a CAGR of 5.3% from 2022 to 2031

• The global tablet coatings market is anticipated to reach more than US$ 1,543 Mn by 2031

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Overview of Global Tablet Coatings Market

Coated tablets are smooth and colorful, and can be manufactured by enclosing a drug in a protective shell. Coated tablets are designed with an extra thin layer to control the release rate of the drug, while uncoated tablets are designed with a single layer of formulations that offers rapid disintegration in the gastric fluid of the stomach.

This is the key difference between coated and uncoated tablets. Growth of the global tablet coatings market can be ascribed to the expansion of the generics market, rise in demand for sports nutraceuticals, and increase in uptake of biopharmaceuticals. However, high cost of products, unfavorable medication price control regime, and changes in trade policies in various countries are posing challenges to pharmaceutical and excipient industries.

Surge in Demand for Sports Nutraceuticals to Fuel Global Tablet Coatings Market

The sports nutrition industry was one of the first to embrace dietary supplements. Sports powders, beverages, and bars are the most popular protein delivery forms, accounting for majority of sales in the sports nutrition segment. However, demand for other delivery forms is also high in a wide range of supplements. Acid-resistant HPMC capsules are ideal for acid-sensitive substances such as creatine (for energy), enzymes (for digestion and inflammation), amino acids (for endurance and muscle repair), and probiotics (for digestive health). Lipid multi-particulates (LMP) technology allows for variable release and taste masking. Increase in focus on sports nutrition is likely to drive the oral formulations market in the next few years. In turn, this is projected to propel the global tablet coatings market.

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Increase in Adoption and Popularity of Low-cost Generics to Drive Global Tablet Coatings Market

Generic medications are less expensive and possess similar therapeutic efficacy and safety characteristics as their branded counterparts. The U.S. healthcare system saved around US$ 292.6 Bn in 2018 due to increase in adoption of generic medicines. Medicaid and Medicare saved nearly US$ 90.3 Bn and US$ 46.8 Bn, respectively, in the same year. Several governments are encouraging the use of generic medications, as a large number of medications have gone off patents. According to the National Pharmaceutical Services, around 31 medications lost patents in 2018, with an additional 47 expected to lose their patents between 2019 and 2022. Novartis, Merck, and Eli Lilly are likely to lose critical pharmaceutical patent protection. Generic erosion caused significant revenue and volume losses for the branded medication segment between 2012 and 2021. Rise in healthcare affordability and expenditure in emerging markets is expected to boost the sales volume of generics during the forecast period. This is anticipated to drive the global tablet coatings market in the next few years.

High Demand for Film-coated Tablets Creating Lucrative Opportunities for Manufacturers
Based on type of coating, the film-coated tablets segment held significant share of the global tablet coatings market in 2021. Demand for film-coated tablets is high in the pharmaceutical industry due to the benefits of shorter processing time and fairly thin coats compared to other types of coatings.

Pharmaceutical applications of tablet film coatings have increased in recent times, creating value-grab opportunities for manufacturers. Sugar coating is an excellent technique for coating tablets, as it minimizes the risk of medication errors. It leverages pigments/colors for identification and improves patient compliance through esthetic appeal. The gelatin-coated tablets segment held large market share in 2021. The segment is anticipated to grow at a steady pace during the forecast period.

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Rise in Application of Cellulosic Polymers in Tablet Coatings Market

The cellulosic polymers segment held major share of the global market in 2021 due to the ability of these polymers to form coatings with strong properties such as good film strength, compressibility, and aqueous solubility. Global regulatory acceptance and easy availability have also increased the adoption of cellulosic polymers for tablet coating applications.

Ongoing R&D Activities in Pharmaceuticals Industry to Boost Pharmaceuticals End-user Segment

The pharmaceuticals industry segment is driven by the rise in prevalence of various diseases that need tablet-based formulations for treatment, increase in demand for pharmaceutical tablet coatings, and surge in number of drugs launched as tablet formulations. Manufacturers of pharmaceutical tablet coatings are generating incremental opportunities in the global market.

Ongoing R&D activities in the pharmaceutical industry in order to improve the quality of products is positively influencing the global tablet coatings market.

Regional Outlook of Tablet Coatings Market
North America is projected to be a highly lucrative region of the global market during the forecast period. The region accounted for more than 40% share of the global table coatings market in 2021.

Development of innovative pharmaceutical products, generics, and biosimilars along with the lucrative presence of key players is expected to drive the market in North America. The market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Increase in outsourcing of drug manufacturing to specialized contract manufacturing organizations (CMOs), rise in number of companies setting up manufacturing units in countries in the region, favorable government regulations, and low labor & manufacturing costs are projected to drive the market in Asia Pacific during the forecast period.

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Analysis of Key Players in Global Tablet Coatings Market

The tablet coatings market report concludes with the company profiles section, which includes information about key players in the global tablet coatings market. Recent trends and innovations in the pharmaceutical industry are likely to increase future business opportunities in the tablet coatings market. Leading players analyzed in the report include Invacare Corporation, Evonik Industries AG, Merck KGaA, BASF SE, Colorcon, Inc., Eastman Chemical Co., Kery Group plc, Ashland Global Holdings, Inc., Air Liquide S.A., and Roquette Freres.

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