DUBLIN–(BUSINESS WIRE)–The “Sustained Release Coatings Market by Application (In Vitro, In Vivo), Substrate Type, Polymer Material Type (Ethyl & Methyl Cellulose, Polyvinyl & Cellulose Acetate, Methacrylic Acid, PEG), and Region – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.
The sustained release coating market size is projected to grow from $478 million in 2019 to $660 million by 2024, at a CAGR of 6.6%.
The sustained release coating market comprises major players, such as Colorcon (US), BASF (Germany), Evonik (Germany), and Coating Place (US). The study includes an in-depth competitive analysis of these key players in the sustained release coating market, with their company profiles, recent developments, and key market strategies.
Growth in demand for sustained release coating in the In Vitro application is driving the market
The demand for sustained release coating has improved in recent years due to its increased consumption in the APAC region. In addition, the increasing use of sustained release coating in varied applications, such as In Vitro and In Vivo, has further contributed to the growth of this market. The newer, high-growth substrate of sustained release coatings include tablets, capsules, and pills. For instance, there is a sharp rise in demand for tablets that are increasingly favored as a new high-performance substrate for pharmaceutical drug applications.
Ethyl & methyl cellulose is expected to be the largest polymer material type during the forecast period
Ethyl & methyl cellulose was the most extensively used sustained release coating material. Its primary release mechanism is drug diffusion across a water-insoluble membrane. It is an aqueous colloidal dispersion of ethyl cellulose polymer, which can be used as a moisture barrier as well as in sustained release and taste-masking applications. So, these properties help them to make the most favorable over other polymer material type.
APAC to record the highest growth rate during the forecast period
The APAC sustained release coating market is projected to register the highest CAGR during the forecast period, due to its rising demand from Japan, India, China, and South Korea. China is expected to lead the demand for sustained release coating due to the increase in the production of pharmaceutical drugs. Generic drug manufacturing in APAC is a lucrative prospect for many foreign investors.
Numerous multinational pharmaceutical drugs manufacturers are focusing on Asian countries, such as China, India, Japan, South Korea, and Indonesia, to balance the impending patent expiration of branded drugs with the manufacturing of generic drugs. A large pool of scientific talent and well-defined R&D infrastructure complement the pharmaceutical formulations market in the APAC region.
- Rise in Demand in the Pharmaceutical Industry
- High Cost Associated with the Microencapsulated Process
- Development of Advanced Technologies to Tap Niche Markets
- Alcohol-Induced Dose Dumping
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Sustained Release Coating Market, By Polymer Material Type
7 Sustained Release Coating Market, By Substrate
8 Sustained Release Coating Market, By Application
9 Sustained Release Coating Market, By Region
10 Competitive Landscape
11 Company Profiles
- BASF SE
- Coating Place Inc.
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Related Topics: Paints and Coatings