The new report by Expert Market Research titled, ‘Global Sustained Release Coatings Market Share, Size, Price, Trends, Growth, Analysis, Key Players, Outlook, Report, Forecast 2021-2026’, gives an in-depth analysis of the Global Sustained Release Coatings Market, assessing the market based on its segments like type, application, substrate and major regions like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 475 million
- Forecast CAGR (2021-2026): 6.4%
- Forecast Market Size (2026): USD 689 million
The market for sustained release coatings has seen substantial growth due to factors such as the growing number of patent terminations, the rising interest in microencapsulated items, and the increased expenditure in R&D exercises by major companies. Also, increased knowledge across different industries offers an enormous market opportunity for key players in the sustained release coatings market. The industry is experiencing healthy growth as a result of increased consumption of sustained release coatings, especially in emerging economies, for use in applications such as in vitro and in vivo.
Furthermore, the industry is benefiting from a surge in demand for tablets, which are seen as a modern high-performance substrate for prescription drug applications. Rapid innovation, combined with increasing R&D in the pharmaceutical field, is assisting the industry’s global expansion. Over the forecast period, the sustained release coatings market is expected to be driven by rising demand for in vitro application of sustained release coatings.
Industry Definition and Major Segments
Sustained release coating, also known as a controlled release profile, is a technique that allows for precise dosing of the active ingredient over a long period of time (up to 24 hours) with minimal side effects. It does this by employing techniques such as film coating, a sustained release matrix, or sustained release drug-loaded granules.
Based on the type, the industry is divided into:
- Ethyl and Methyl Cellulose
- Polyvinyl and Cellulose Acetate
- Methacrylic Acid
- Polyethylene Glycol (PEG)
Based on the application, the industry is divided into:
- In Vitro
- In Vivo
Based on the substrate, the industry is divided into:
The regional markets for sustained release coatings include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Geographically, though North America held the largest market share in 2020, Asia Pacific is expected to rise at the fastest pace during the forecast period, owing to rapid growth in pharmaceutical drug output in countries like China and India, as well as development in the R&D sector. Because of advantages such as its use as a moisture barrier and in continuous release applications, ethyl and methyl cellulose, among other polymer material types, is expected to account for the largest share in the industry over the forecast period. Furthermore, due to its low cost and robust build, barcode technology, especially 2D barcodes such as data matrix and QR code, accounted for a significant share of the market in 2020.
Key Market Players
The major players in the market are BASF SE (OTCMKTS: BASFY), Evonik Industries AG, Colorcon, Coating Place, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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