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The sustained release coating market is estimated to grow at a CAGR of 6.11% between 2022 and 2027. The size of the market is forecasted to increase by USD 207.64 million. The growth of the market depends on several factors, including the growing demand for pharmaceutical products, the rising demand for personalized medicine, and advances in technology.
This report extensively covers market segmentation by type (tablets, capsules, and pills), application (in vitro and in vivo), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing demand for pharmaceutical products is notably driving the market growth, although factors such as stringent government regulations may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Sustained Release Coating Market Driver
Chronic diseases such as diabetes, heart disease, and cancer require long-term treatment options that provide sustained medication release.
Sustained release coatings can enhance health outcomes and minimize the need for recurring dosages by utilizing drug delivery systems with controlled and predictable medication releases.
Significant Sustained Release Coating Market Trend
The need for sustainable solutions has increased due to environmental concerns.
The pharmaceutical industry significantly contributes to pollution and waste, as drug residues and packaging materials end up in landfills and waterways.
Unlike non-biodegradable waste, biodegradable coatings break down over time. They are made of plant-based polymers and cellulose derivatives.
Therefore, many businesses are increasing their investments in the creation of biodegradable and environmentally friendly coatings.
Major Sustained Release Coating Market Challenge
There are several regulatory requirements for safety, efficacy, and quality in the pharmaceutical industry.
The expenses required and the time needed to comply with these regulations are challenges faced by smaller businesses.
Hence, the regulatory process can be a significant barrier to the entry of new players.
Moreover, businesses should stay informed about any updates regarding changes in regulations and modify their procedures accordingly.
These factors are expected to hinder the growth of the market during the forecast period.
Key Sustained Release Coating Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Sustained Release Coating Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ashland Inc. - The company offers sustained-release coatings such as Aquarius film coating systems.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the tablets segment will be significant during the forecast period. The growth of the segment is attributed to factors such as the rising demand for controlled-release formulations and the simplicity of manufacturing and administering tablets. The demand for patient-friendly drug delivery systems, the rising incidence of chronic diseases, and the aging population are also driving the sustained release coating market for tablets.
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The tablets segment was valued at USD 283.05 million in 2017 and continued to grow until 2021. The sustained release coatings market is characterized by fierce competition among major players, with a focus on new product development, R&D, and alliances. As a result, the sustained release coating market for tablets is anticipated to grow during the forecast period.
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North America is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The US dominates the regional market due to its advanced healthcare system, high healthcare spending, and a well-established pharmaceutical sector. The sustained release coatings market in North America is established and highly competitive. There is intense rivalry between the major players in the region, with a focus on collaborations, R&D, and product innovation. These factors are expected to drive the growth of the market in the region during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. In 2020, the COVID-19 pandemic had both positive as well as negative effects on this market. The demand for pharmaceuticals and healthcare products increased during the early stages of the pandemic. However, the production, transportation, and supply chain disruptions had a negative impact. The initiation of vaccination drives in 2021 led to the lifting of lockdowns, which led to a resumption of the supply chain. These factors are expected to drive the growth of the regional market during the forecast period.
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the global sustained release coating market as a part of the specialty chemicals market, which covers products and companies engaged in high value-added chemicals used in the manufacture of a wide variety of products, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. Technavio calculates the global specialty chemicals market size based on combined revenue generated by manufacturers engaged in high-value-added chemicals used in the manufacturing of a wide variety of products. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
Sustained Release Coating Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.11% |
Market growth 2023-2027 |
USD 207.64 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.43 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 43% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ashland Inc., BASF SE, Coating Place Inc., Eastman Chemical Co., Evonik Industries AG, G.M. Chemie Pvt. Ltd., JRS PHARMA GmbH and Co. KG, LFA Machines Oxford Ltd., Merck KGaA, Novartis AG, Panacea Biotec Ltd., Panchsheel Organics Ltd., Pfizer Inc., S.B. Panchal and Co., Spraycel Coatings, Viatris Inc., Sun Pharmaceutical Industries Ltd., Lonza Group Ltd., AstraZeneca Plc, and Meenaxy Pharma Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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