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Tablet Coatings Market - Major Role of Leading Players in Global Industry Growth

Recent Developments in Tablet Coatings Market:

# In 2020, Colorcon launched the Acryl-EZE II film coating line which extends the pH range covered by its enteric coatings.

# In 2020, Evonik launched the EUDRATEC Fasteric releases, an advanced oral drug delivery technology that provides enteric protection followed by rapid, homogeneous release for effective targeting of the upper small intestine.

# In 2019, Ashland announced the launch of Aquarius Nutra TF, which provides titanium oxide-based coating to tablets in the European market.

# In 2019, Kerry Group opened its new USD 22 million (EUR 20 million) state-of-the-art facility in Bangalore, India to serve the Taste & Nutrition business division’s global and regional customers in the South West Asia region.

# In 2017, BASF Group opened the Innovation Campus Asia Pacific in India, marking the largest R&D investment in South Asia. The company invested USD 61.6 million (EUR 50 million) in this center to increase its global and regional research activities.

Major Leading Copmanies Operating in this Market:

The prominent players in this market are Colorcon Inc. (US), 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), Merck KGaA (Germany), Corel Pharma Chem (India), Biogrund GmbH (Germany), Ideal Cures Pvt. Ltd. (India), Wincoat Colours & Coatings Pvt. Ltd. (India), Spectrum Chemical Mfg. Corp. (US), Coating Place, Inc. (US), Lubrizol Corporation (US), Aquadry Pharma Pvt. Ltd. (India), and Aries Exim Pvt. Ltd. (India).

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Major Growth Driving Factors:

Growth in this market is majorly driven by the growing pharmaceutical industry coupled with the increasing R&D activities taking place in this field. The growing generics market, rapidly growing biopharmaceuticals sector, growing nutraceutical industry, and the rising adoption of orphan drugs are supporting the growth of the market. Moreover, the shifting focus of pharmaceutical manufacturing to emerging markets along with the increasing outsourcing of operations to these countries present significant opportunities for market growth.

Projected Revenue Growth During Forecast Period:

The tablet coatings market is projected to reach USD 969 million by 2025 from USD 739 million in 2020, at a CAGR of 5.6% during the forecast period.

Challenge: Changing Trade Policies between Countries

With the current changes in government policies all over the world, upcoming trade policies could prove to be a challenge for the pharmaceutical industry, and in turn, the excipients industry. Trade between the developing countries who are considered to be pharmerging countries such as China, India, and Brazil and developed countries like the US and European countries, who are top markets in the industry, could be severely affected. BREXIT is another pressing issue in this market. Although the effects of BREXIT on the pharmaceutical industry are still unclear, companies like Novartis, Astra Zeneca, and Roche have already shifted manufacturing sites in order to reduce any further risks.

Opportunity: Growth in the Biosimilars Market

Biosimilars are cost-effective because they are not required to comply with the stringent requirements imposed by regulatory authorities, as they are generic versions of patented biologic drugs. Over the last decade, over 200 biologics have been approved by the US FDA. As patents and exclusivity periods for these biologics begin to expire, an opportunity for the development of follow-on biologics or biosimilars by a different sponsor is created.

According to the World Preview 2018 report, sales of up to USD 251 billion are at risk between 2018 and 2024, which points towards the fact that the pharmaceutical industry has just entered a second patent cliff era where top biologic blockbusters will be challenged by biosimilars. The expiration of patents and other intellectual property rights for originator biologicals is expected to open up opportunities for biosimilars to enter the market. Biologics are expected to contribute to around half of the revenue generated by the top 100 pharmaceutical products. Moreover, there is an overall increase in the number of FDA approvals for biosimilars.

Recognizing their potential, companies like Evonik (Germany) have increased their production capacity by acquiring companies like SurModics, which focuses on controlled-release applications. In addition, Evonik also acquired complementary technologies like Boehringer Ingelheim’s RESOMER platform to improve its capability in this market segment.

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End Users:

The pharmaceutical industry end-user segment is expected to account for the largest share of the tablet coatings market

The tablet coatings market, by end-user, is segmented into pharmaceutical and nutraceutical industry. The pharmaceutical industry segment accounted for the largest market share in 2019. The demand for tablet coatings in the pharmaceutical industry is largely driven by the growing prevalence of diseases for which tablet-based formulations form the primary treatment. The rising demand for innovative drug delivery formulations is also supporting the growth of the tablet coatings market for the pharmaceutical industry.

on September 5 at 5:02

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