Global Tablet Coatings Market expected to develop at a CAGR of 5.8 per cent over the forecast period, from USD 779 million in 2020 to USD 989 million in 2025

The primary reason for the market's significant growth is the growth of the pharmaceutical market, which is fuelled by increased R&D activities and clinical trial studies. Furthermore, the market is being driven by the rising adoption of oral formulations among the growing geriatric population, the rising adoption of orphan drugs, and the uptake of biopharmaceuticals.

The global tablet coatings market is expected to develop at a CAGR of 5.8 per cent over the forecast period, from USD 779 million in 2020 to USD 989 million in 2025.

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The film-coated segment dominated the tablet coatings market by the form in 2019 and is expected to rise at the fastest CAGR over the forecast period. The pharmaceutical industry has a strong demand for film-coated tablets because of the advantages of shorter manufacturing times, relatively thin coats compared to other coating types, high resistance to mechanical forces, and the addition of functional properties to the tablets.

In 2019, the non-functional non-modifying coatings segment commanded the largest share based on functionality. The high use of these coatings in the manufacture of immediate-release dosage forms accounts for the large share of this section. Additionally, these coats provide protection from light and moisture, as well as improved swallowability, taste masking, mechanical efficiency, and improved safety and ease of handling.

From 2020 to 2025, the Asia Pacific Pharmaceutical Coating Market is projected to expand at the fastest pace. Increased outsourcing of drug production to specialist contract manufacturing organisations (CMOS), an increase in the number of companies establishing manufacturing units in these countries, favourable government regulations, low labour and manufacturing costs, and a broad base for the generation of generics and biologics are all expected to fuel the market growth during the forecast period.

In 2019, the category of cellulosic polymers held the largest share of the global tablet coatings market. The high adoption of these polymers can be attributed to their ability to shape coatings with generally acceptable properties including good film strength, aqueous solubility, and compressibility, as well as less sensitivity to wet granulation, flowability, and better tabletting at a low price.

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Generic medications are less expensive than branded drugs and have comparable clinical efficacy and safety profiles. The lower cost of generics has given this business segment a boost. Because of the expanded use of generic medications, the US healthcare system was able to save about USD 292.6 billion in 2018. Medicare and Medicaid saved USD 90.3 billion and USD 46.8 billion, respectively, in 2018.

Because of these cost savings, governments around the world are encouraging the use of generic medications. Generics are gaining popularity around the world. This is attributed to a large number of medications losing their patent protection, as well as healthcare changes that benefit generics.

In the forecast era, rising affordability and healthcare spending in developing economies is expected to drive generics sales volume. This is viewed as a positive indicator of excipient development, such as tablet coatings.

Because of the entry of active mass customers seeking healthy living and wellness, sports nutrition is now one of the fastest-growing and largest supplement markets. One of the early adopters of dietary supplements was the sports nutrition industry.

Some of the key players in the tablet coating market are:

• Colorcon Inc.
• Sensient Technologies Corporation
• BASF SE
• Evonik Industries AG
• Ashland Global Holdings Inc.
• DuPont De Numeours Inc.
• Kerry Group plc
• Roquette Freres
• Eastman Chemical Company
• Air Liquide S.A.
• Merck KGaA
• Corel Pharma Chem
• Biogrund GmbH
• Ideal Cures Pvt. Ltd.
• Wincoat Colours & Coatings Pvt. Ltd.
• Spectrum Chemical Mfg. Corp.
• Coating Place, Inc.
• Lubrizol Corporation
• Aquadry Pharma Pvt. Ltd.
• Aries Exim Pvt. Ltd.

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