The sustained release coatings market size is expected to reach US$830.1 million by 2027, growing at a CAGR of around 6.1% from 2022 to 2027. The sustained release coating is a method that allows tailored dosing and is designed to liberate the constant drug concentration at a predetermined rate for a specific period. It uses polymer materials such as methacrylic acid, polyvinyl acetate, methylcellulose, and others for the development or production of tablets, pills, capsules, and others. Furthermore, the sustained release coatings industry is experiencing a major drive due to the rising demand for controlled delivery of drugs as it allows patient compliance, uniformity in drug delivery, and prevents overdose. The sustained release coatings are majorly used in the pharmaceuticals industry owing to their excellent properties such as therapeutic efficiency, tailored dosage, chemical resistance, and manufacturing convenience. The high growth in tablets for pharmaceutical drug delivery is creating growth opportunities for the sustained release coatings market in the forecast period.
The covid-19 outbreak has majorly impacted the sustained release coatings market. The market was hampered due to disruption in raw material supply, logistics failure, and other lockdown restrictions. The sustained release coatings have major demand in the pharmaceuticals sector, hospitals, and others. The worldwide pandemic has created a slowdown such as production halts, unavailability of raw materials, supply chain disturbances, and others constraints. The pharmaceuticals sector was also disturbed in the early phase of covid-19. The restrictions in travel, transportation shutdown, and manufacturing operations halt were faced by the drugs and medicine producers. The demand for specific medicine or drugs was high; however, the supply side was disturbed due to rising raw material or ingredient costs, declining manufacturing capacities, and logistical challenges. According to the United States Census Bureau, the revenues of medical and diagnostic labs were down by 10.8% in the first quarter of the year 2020. However, the pharmaceuticals industry saw a surge in demand with rising production and growth in pharmaceutical drugs supply in the later phase. According to Food and Drug Association (FDA), more than 670 drug development programs were done, with 14 covid treatments authorized for emergency usage. Furthermore, health spending reached USD 8.5 trillion in 2019, with a 9.5% share in the global GDP, as per the World Health Organization report. The supply for various prescriptions, generic and other drugs increased, thereby boosting the application of sustained-release coatings.
Sustained Release Coatings Market Segment Analysis – By Substrate
By substrate, the tablets segment held the largest sustained release coatings market share in 2021 and will grow at a CAGR of 5.9% during the forecast period. The growth for tablets in sustained release coatings is influenced by the development of mini-tablets in the market. The demand for tablets is rising due to their faster production, cost-efficiency, and dominant consumption in pharmaceuticals. According to India Brand Equity Foundation (IBEF), the estimated Indian pharmaceutical market was around USD 42 billion in 2021 and is expected to reach USD 65 billion by 2024. The sustained release coatings are made up of cellulose acetate, polyvinyl acetate, methacrylic acid, ethyl and methyl cellulose, PEG, and others, which offer wet granulation protection, strength, and efficiency. Furthermore, various advantages in manufacturing, less requirement of coating material, and low dose dumping risks are creating a high demand in the global pharmaceuticals sector. Furthermore, the tablet substrate is growing in the sustained release coatings industry due to advancements in modified-release formation, tablet systems, and others, thereby dominating the market in the coming years.
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Sustained Release Coatings Market Segment Analysis – By Application
By application, the in vitro segment held the largest share in 2021 and is expected to grow at a CAGR of 4.6% in the sustained release coatings market during the forecast period. The growth of in vitro application is majorly influenced by the rising drugs production and advanced pharmaceuticals production across the world. According to the International Federation of Pharmaceutical Manufacturers & Association (IFPMA), around 2500 drugs for cancer, 1400 for neurology, 1200 for infectious disease, and 1500 for immunology were developed in 2020. In vitro, the blends of hydrophilic and hydrophobic polymers are employed as a coating material to control and manage the drug release. The growth in pharmaceutical drugs consumption, majorly in the pediatric and geriatric population is influencing the demand in the market. The promising delivery system for drugs with high sustained released action and drug bioavailability is influencing the growth of in vitro applications. Thus, with major development and drugs production, tailored drug dosing mechanism, and enhanced efficiency in the in vitro applications, the demand for sustained release coatings industry will rise in the forecast period.
Sustained Release Coatings Market Segment Analysis- By End-Use Industry
By end-use industry, the pharmaceutical segment has the largest share in 2021 and is expected to grow at a CAGR of 5.8% during the forecast period. The growing demand for sustained release coatings in drug delivery for cancer or brain tumor patients is majorly driving the market. The tailored dosing of active ingredients for an extended period is influencing the growth in the pharmaceutical sector. According to the European Federation of Pharmaceuticals Industries and Associations, the North American region accounted for around 49% of the world pharmaceutical sales in 2020 Furthermore, major development and investments in the medical and pharmaceutical sector are boosting the application of sustained-release coatings for tailored drug absorption and managed dosage. The pharmaceuticals industry is experiencing a high demand post-pandemic, owing to increased productions advanced drug delivery systems, and growth from the geriatric and pediatric domain, thereby majorly contributing in the sustained release coating market size. Furthermore, the rising research and development projects in pharmaceuticals across the world are anticipating the application growth for sustained release coatings for various drugs and prescriptions. Thus, with rising drugs reduction and growing demand for drug stabilization, ease of consumption, and bioavailability, the demand for the sustained release coatings industry will grow in the forecast period.
Sustained Release Coatings Market Segment Analysis – By Geography
By geographical analysis, North America holds the largest share in the sustained release coatings market for the year 2021 and will grow at a CAGR of 3.8% during the forecast period. The growing pharmaceuticals sector in the United States, Canada, and others are influencing the growth in the market. Moreover, the high demand and production of pharmaceutical and Nutraceuticals drugs are creating a major drive in this region. According to the Pharmaceuticals Research and Manufacturers Association, the US companies performs R&D in pharmaceuticals worth around USD 83 billion in 2019. The growth in pharmaceutical drug manufacturers in this region has led to high demand for sustained release coatings. Furthermore, the North American region is experiencing major growth in the manufacturing of generic drugs and developed medical research and development. The development in drugs delivery systems and generic medications is increasing the demand for sustained release coatings. The growing demand from paediatric and geriatric structures is also boosting the market. Thus, with the increasing pharmaceuticals and advanced drug delivery applications in the North American region, the sustained release coatings market will continue to grow the fastest in the forecast period.
Sustained Release Coatings Market Drivers
Growing pharmaceutical and medical sector
The growth in the medical or pharmaceutical sector is high owing to increasing development and production. Various producers have increased the production of generic, specialty, or other medications type. The growth in pharmaceuticals is driving the market for sustained release coatings industry due to high applications and consumption in the medical sector. The high demand for treatment drugs and vaccines is boosting the pharmaceutical sector. The investment and R&D projects in the medical field are offering advancement in the modification and production of the drug. Furthermore, as per data from ICRA, the revenue growth for the financial year 2022 is estimated at around 9-11%, supported by a strong recovery post-pandemic. Thus, with the growing medical and pharmacy segment, the demand for sustained release coatings in tablets, capsules, pills, and others is growing in the forecast period and offering major dominance in the drug delivery mechanisms.
The rise in pediatric and geriatric dosage demand
The demand for sustained release coatings in various drugs and medications is majorly influenced by rising demand from pediatric and geriatric dose segments. The sustained release coatings are designed to release the drug at a specific period. It is an advanced technology, compared to the dosage of the conventional drug. Moreover, the demand for sustained release drugs is majorly driven by the pediatric and geriatric population, as it is a suitable option, owing to better patient compliance, low dosing frequency, and others. The Pediatric Research Equity Act (PERA) offers the carrot-and-stick- technique to focus on the development of medicines for pediatrics. The pediatric and geriatric population is adopting sustained release coatings drug delivery system due to extended-release and low dosage, thereby leading to better compliance and relief from issues such as difficulty swallowing or poor taste. Thus, the sustained release coatings market is growing with the growing demand from the geriatric and pediatric dosage segment.
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Sustained Release Coatings Market Challenges
Dose dumping and high microencapsulation costs
The sustained release coatings are in demand due to their tailored drug dosage features and low drugs dose consumption regimen. The challenge of alcohol-based dose dumping is faced, when the active pharmaceutical ingredient (API) is released, with rupture of the coatings. For instance, the FDA has specified the withdrawal of hydromorphone, as an alcohol-induced dose dumping. The alcohol presence usually retards the drug release and causes tablet swelling. Furthermore, the high cost of the microencapsulation technology has created a major challenge in the applications in pharmaceuticals, agrochemicals, and others, thereby increasing the overall costs and making the final product expensive.
Sustained Release Coatings Industry Outlook
Technology launches, acquisitions, and R&D activities are key strategies that are adopted by the dominant players in this market. Sustained Release Coatings top 10 companies include:
- BASF Corporation
- Evonik Industries AG
- Colorcon, Inc.
- Coating Place, Inc.
- Mylan N.V.
- Sun Pharmaceutical Industries Ltd.
- Pfizer Inc.
- Allergan plc.
- Teva Pharmaceutical Industries Ltd.
- Bausch Health Companies Inc.
In April 2019, colorcon Inc. expanded the business through the implementation of modified-release products of DuPont’s aqua coat technology.
In 2020, Evonik made a launch of the EUDRATEC fasteric releases, which is and advanced oral drug delivery technique offering fast and homogeneous releases for an effective target.
In July 2020, the Colorcon introduced the Acryl-EZE II film coating line which provides extended pH range covered by enteric coatings and applications for multi-particulate dose forms and tablets.
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The rise in demand for tablets substrate in the sustained release coatings market is influenced by the growth from pediatric and geriatric dosage and the development of mini-tablets in the forecast period.
The North American region is majorly growing in the sustained release coatings industry owing to the major rise in pharmaceutical manufacturing and increase in advanced drug delivery processes.
The development in the sustained release coatings for offering reliable drugs delivery for a brain tumor or cancer-specific use is influencing growth in the global sustained release coatings market.
A. Coating Materials Market
B. Medical Coatings Market
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