Tablet Coatings Market: Overview
The increasing adoption of orphan drugs and the rising popularity of generics in the medical sector is a prime factor augmenting the growth of the global tablet coatings market. Tablet coating is the external covering of a tablet with a layer/substance. The coats utilized reach from the conventional glossing over to the current polymer and polysaccharides-based coats.
The global tablet coatings market is classified based on polymer type, functionality, type, end-user, and region. In terms of polymer type, the market is grouped into cellulosic polymers, vinyl derivatives, acrylic polymers, and other polymers. As per functionality, the market is grouped into functional modifying coatings, functional non-modifying coatings, and non-functional non-modifying coatings. Concerning segmentation by type, the market is divided into gelatin-coated tablets, enteric-coated, sugar-coated, film-coated, and other tablet coatings. Based on end-user, the market is bifurcated into the nutraceutical industry and pharmaceutical industry.
The report offers a qualitative and quantitative analysis of the tablet coatings market and focuses on recent trends and innovations that will shape the future of this market in terms of demand and sales revenue. It throws light on the table of segmentation and mentions the name of the leading segment with factors attributing to its growth. Additionally, the report also highlights the key drivers, restraints, challenges, and upcoming growth opportunities that will shape the future of this market. The report also describes the impact of the COVID 19 pandemic on this market and how can manufacturers benefit from it by using various growth strategies. For more information on the report, log on to the company website.
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Tablet Coatings Market: Nature of Competition
The competitive landscape of the global tablet coatings market is highly fragmented on account of the presence of multiple players. The key objective of players includes revenue generation based on increased demand and product supply. Merger and acquisition strategies, joint ventures, and other collaborations will help various players gain a strategic position in the overall market competition. The report lists the name of players that are operating in the market currently and their key contributions in the form of innovations and trends.
Some of the key players operating in this market include:
- Evonik Industries AG
- Merck KGaA
- BASF SE
- Colorcon Inc.
- Eastman Chemical Co.
- Kery Group plc
- Ashland Global Holdings Inc.
- Air Liquide S.A.
- Eastman Chemical Company
- Roquette Freres
Tablet Coatings Market: Innovations
- BASF Group launched Innovation Campus in the Asia Pacific in India in 2017 to make this section the largest R& D in the South Asian continent. A major investment of 61.6 million Euros was made by the company to increase the number and rate of research and development activities.
- Aquarius Nutra TF was launched by Ashland in 2019 for providing titanium oxide-based coating to tablets in the European market.
Tablet Coatings Market: Trends and Opportunities
Nonexclusive medications are practical and have comparable remedial viability and security profiles as their marked partners. This market section has gotten a lift because of the lower cost of generics. Thinking about such expense benefits, governments in different nations are advancing the utilization of conventional medications. Generics are acquiring footing around the world. This is because of countless medications going off-patent and medical care changes preferring generics. As indicated by industry specialists, conventional disintegration (coming about because of the patent precipice) is relied upon to bring about critical income and volume misfortunes for the marked medications industry. This will empower the passage of less expensive nonexclusive partners on the lookout, which will help the volume of medications sold. Furthermore, the developing reasonableness and expanding medical services use in arising economies are relied upon to drive the business volume of generics in the figure time frame. This is viewed as a positive pointer of the development of the excipients like tablet coatings.
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Tablet Coatings Market: Geographical Insights
Region-wise, Europe dominated the market with North America in close competition. Besides this, the presence of several pharmaceutical giants with high production capabilities is likely to aid in the expansion of the European market. Additionally, the increasing focus on generics, biosimilars, and pharmaceutical products will further help create lucrative growth opportunities for the market in the coming years.
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.