North America to Dominate Sustained Release Coatings Market During Forecast Period
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 & Cellulose Acetate, Methacrylic Acid, Polyethylene
Glycol (PEG), Others), By Application (In Vitro and In Vivo), By Substrate Type
(Tablets, Capsules, Pills), By Region, Competition, Forecast &
Opportunities, 2025”, global sustained release coatings market is expected
to grow at a steady CAGR 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 & cellulose acetate, methacrylic acid,
polyethylene glycol (PEG), others. The ethyl & methyl cellulose segment dominated
the global sustained release coatings market in terms of largest market size
until 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. In
terms of application, the market is categorized into in vitro and in vivo. In vitro
segment is likely to grow at the highest CAGR over the next five years on
account of being driven by the continuous spending of the pharmaceutical
companies in the R&D of various medicines and cures.
BASF
SE, Evonik, Colorcon, Coating Place, Inc., GlaxoSmithKline plc, Teva
Pharmaceutical Industries Ltd., Mylan N.V., Valeant Pharmaceuticals International,
Inc., Pfizer, Inc., Sun Pharmaceutical Industries Ltd., Novartis AG,
AstraZeneca, Depomed, Inc., Corium International, Inc., Orbis Biosciences, Inc.
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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“North America is forecast to dominate the global sustained release
coatings market during the course of next five years on account of ever-rising
demand for microencapsulated tablets, capsules, and pills from the healthcare
industry. Moreover, presence of many major pharmaceutical giants is expected to
contribute to the growth of the market in the region. Furthermore, surging
investments for the development of novel drugs and drug delivery systems in the
region is further expected to boost the growth of global sustained release
coatings market until 2025.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Sustained Release Coatings Market By Global
Sustained Release Coatings Market, By Polymer Material Type (Ethyl & Methyl
Cellulose, Polyvinyl & Cellulose Acetate, Methacrylic Acid, Polyethylene
Glycol (PEG), Others), By Application (In Vitro and In Vivo), By Substrate Type
(Tablets, Capsules, Pills), 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.
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