Rising interest for microencapsulated items and growing R&D exercises for development of effective medicines to drive the growth of global sustained release coatings market
According to TechSci Research report, “Global Sustained Release Coatings Market By Polymer Material Type (Ethyl & Methyl Cellulose, Polyvinyl Alcohol, Methacrylic Acid Copolymer, Cellulose Acetate, Others), By Application (In Vitro and In Vivo), By Substrate Type (Tablets, Capsules, Pills, Pellets and Multiparticulate Powder), By Region, Competition, Forecast & Opportunities, 2025”, global sustained release coatings market was valued USD 562.51 Million in 2019 and is expected to grow at a CAGR of 7.80% over the forecast period. Surging requirement for sustained release coatings in cancer and brain tumor-specific drug delivery is one of the major factors contributing to the growth of global sustained release coatings market across the globe. Moreover, growing usage of sustained release coatings in capsules, tablets among others is further expected to bode well for the growth of global sustained release coatings during the forecast years. In addition to this, awareness pertaining to the additional benefits provided by sustained release formulations as it helps lessens the dosage frequency and improves patient compliance, is projected to positively influence the growth of global sustained release coatings market in the years to come. Also, increasing support from the government coupled with technological advancements in the healthcare industry is making headway for the growth of global sustained release coatings market across various developing economies. However, some of the factors due to which market might get subdued are high cost and alcohol dose dumping.
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Global sustained release coatings market can be segmented based on polymer material type, application, substrate type, and region. Considering the polymer material type, the market is fragmented into ethyl & methyl cellulose, polyvinyl alcohol, methacrylic acid copolymer, cellulose acetate, others. The ethyl & methyl cellulose segment dominated the global sustained release coatings market with share of 62.14% in 2019 and is further anticipated to lead the market during the forecast years as they are favored over other materials owing to their use as a moisture barrier as well as in sustained release and taste-masking applications.
BASF SE, Evonik Industries Inc, Colorcon Inc, Ideal Cures Pvt. Ltd., Shin-Etsu Chemical Co. Ltd., Kerry Group plc, BIOGRUND GmbH, Seppic SA, Torrent Pharmaceuticals Limited, and Tianjin ILE Pharmaceutical Materials Co., Ltd are among others are the leading players operating in global sustained release coatings market. The leading players are adopting several growth strategies to enhance the market scenario of sustained release coatings. Other competitive strategies include mergers & acquisitions to diversify their product portfolio in order to strengthen their market position.
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“Asia Pacific led the global sustained release coatings market in 2019 and the trend is likely to continue through 2025. Presence of large economies such as India and China, exponential growth in pharmaceuticals sector due to cheap labor, favorable government policies and vast infrastructure are providing conducive environment for doing business in the region. Besides, due to increasing prevalence of diseases such as diabetes and other lung diseases, companies are increasing their focus in the Asia Pacific region, which is consequently driving the growth of the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Sustained Release Coatings Market By Polymer Material Type (Ethyl & Methyl Cellulose, Polyvinyl Alcohol, Methacrylic Acid Copolymer, Cellulose Acetate, Others), By Application (In Vitro and In Vivo), By Substrate Type (Tablets, Capsules, Pills, Pellets and Multiparticulate Powder), By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global sustained release coatings market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global sustained release coatings market.
Source : TechSci Research
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