Modified Release Coatings Market: Introduction
- Modified release technology is the ability to alter the way an active drug is released and absorbed into the body through the formulation of the drug coating. Consequently, modified release coating is used as drug coating to control the release of active ingredients from particulate material. Modified release coating provides obstacles through which the drug must migrate for release.
Key Drivers of Global Modified Release Coatings Market
- The market for modified release coatings is expected to expand at a steady pace during the forecast period. Expansion of the pharmaceutical sector is expected to drive the demand for modified release coatings.
- Demand for microencapsulated biomolecules is increasing in the pharmaceutical industry due to the need for targeted action. Thus, the development of drugs based on these biomolecules is estimated to boost the demand for modified release coatings for effective and targeted delivery of active ingredients.
- Modified release coating technologies are extensively utilized by pharmaceutical companies to mask the bitter taste or odor of drugs and to facilitate targeted and controlled delivery. Advances in technology in the pharmaceutical industry are also boosting the modified release coating market.
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Tablet Substrate Type Segment to Dominate the Global Modified Release Coatings Market
- Demand for modified release technology for tablet coating is expected to increase at a high growth rate during the forecast period. Development of mini-tablets is a key trend witnessed in this segment, which has gained popularity due to its numerous advantages including ease of manufacturing, less coating material required, less risk of dose dumping, and less inter- and intra-subject variability.
High Investment in Research & Development to Hamper Global Market
- Production of modified release coatings requires notable research and development; they are considerably expensive, as compared to other products used as coating for pills, tablets, and other medicinal products. This factor is projected to hamper the production of the modified release coatings.
North America to Hold Significant Share of Global Modified Release Coatings Market
- In terms of region, the global modified release coatings market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is anticipated to hold a notable share for the global modified release coatings market during the forecast period. Rising interest in microencapsulated tablets, cases, and pills is driving the North America modified release coatings market.
- The market in Asia Pacific is anticipated to expand at a significant growth rate during the forecast period, owing to the well-established pharmaceutical industry in the region. China, India, ASEAN countries, and Australia are expected to contribute significantly to the expansion of the market in the region.
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Key Players Operating in the Modified Release Coatings Market
The global modified release coatings market is a consolidated with big international players operating in the market. However, presence of a small- and medium-sized domestic players makes the market highly competitive. Key players operating in the global modified release coatings market include:
- BASF SE
- Evonik Industries AG
- Coating Place, Inc.
Global Modified Release Coatings Market: Research Scope
Global Modified Release Coatings Market, by Polymer Type
- Ethyl & Methyl Cellulose
- Polyvinyl & Cellulose Acetate
- Methacrylic Acid
- Polyethylene Glycol (PEG)
Global Modified Release Coatings Market, by Substrate Type
Global Modified Release Coatings Market, by Type
- Enteric Coatings
- Sustained Modified Coatings
Global Modified Release Coatings Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa