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
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.