Major Objectives of the Study:

# To define, describe, segment, and forecast the Tablet Coatings Market by polymer type, functionality, type, end user, and region.

# To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).

# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall tablet coatings market.

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players.

# To forecast the size of the tablet coatings market in five main regions (along with their respective key countries), namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.

# To profile the key players in the tablet coatings market and comprehensively analyze their core competencies and market shares.

# To track and analyze competitive developments such as acquisitions; new product launches; expansions; collaborations, agreements, and partnerships; and R&D activities of the leading players in the tablet coatings market.

# To benchmark players within the tablet coatings market using the "Competitive Leadership Mapping" framework, which analyzes market players on various parameters within the broad categories of business and product strategy.

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.

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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. Additionally, the rising focus on technological advancements in niche market areas also offers significant growth opportunities for players operating in this space. However, the increasing regulatory stringency regarding the approval of drugs and excipients, the high cost associated with the microencapsulation process are expected to restrain the growth of this market during the forecast period.

Expected Revenue Growth:

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.

Market Size Estimation:

The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (segmental analysis of major segments) and top-down approach (assessment of utilization/adoption/penetration trends, by polymer type, functionality, type, end user, and region).

Data Triangulation:

After arriving at the market size, the total tablet coatings market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments & subsegments, data triangulation, and market breakdown procedures were employed, wherever applicable.

Recent Developments:

# 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.

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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.