SEATTLE, April 27, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights’ analysis, the global sustained release coating market is estimated to be valued at US$ 508.2 million in 2021 and is expected to exhibit a CAGR of 6.6% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Sustained Release Coating Market:
Key trends in the market include increasing engagement of government regulatory organizations in transforming healthcare and medical field using new research and development activities, increasing adoption of new coating, product launches, inorganic activities such as collaborations, and others.
The increasing number of organic growth strategies such as product launch, partnership, collaboration, etc. by key players is expected to drive the global sustained release coating market growth over the forecast period. For instance, in September 2020, Dr. Reddy’s Laboratories Ltd. announced the launch of Methylphenidate Hydrochloride Extended-Release Tablets USP, 18 mg, 27 mg, 36 mg and 54 mg, a therapeutic equivalent generic version of Concerta (methylphenidate Hydrochloride) Extended-Release Tablets, 18 mg, 27 mg, 36 mg, and 54 mg. In July 2019, Lyndra Therapeutics, a biopharmaceutical company, announced a partnership with Gilead Sciences, Inc., a biotechnology company, to develop and commercialize ultra-long-acting oral HIV therapies. Gilead will have exclusive rights to Lyndra’s therapeutics platform for ultra-long-acting formulations related to HIV. In January 2020, Eli Lilly and Company announced that the U.S. Food and Drug Administration approved Trijardy XR (empagliflozin/linagliptin/metformin hydrochloride extended release tablets) to lower blood sugar in adults with type 2 diabetes. Trijardy XR provides three type 2 diabetes medicines in one pill, including Jardiance (empagliflozin), Tradjenta (linagliptin), and metformin hydrochloride extended release.
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Additionally, advantages and better patient compliance for sustained release drug delivery over conventional dosage forms due to less frequent drug administration, maximum utilization of drugs, reduction of healthcare cost, and increased safety margin of a potent drug, etc., leads to an increase in demand for the sustain release coating and thereby drive the growth of the global sustained release coating market.
Key Market Takeaways:
Decrease in antibiotic resistance with extended-release delivery system and recent advancement in materials for extended-release antibiotic delivery system are expected to drive the growth of the global sustained release coating market.
Among regions, North America is expected to hold a dominant position in the global sustained release coating market over the forecast period, owing to increase in the launch of drugs by market key players in the region is expected to boost the growth of North America region market. For instance, in July 2019, Adlon Therapeutics L.P., a subsidiary of Purdue Pharma L.P., announced that Adhansia XR (methylphenidate hydrochloride) extended-release capsules CII, a central nervous system (CNS) stimulant for the treatment of Attention-Deficit/Hyperactivity Disorder (ADHD) in patients six years and older, is available in the U.S.
Competitive Landscape:
Key players operating in the global sustained release coating market include Evonik, BASF SE, Colorcon, Coating Place, Inc. Panchsheel Organics Ltd., Eastman Chemical Company, G.M. Chemie Pvt. Ltd., Ashland, Spraycel Coatings, JRS PHARMA, Merck KGaA, and Panacea Biotec.
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Market Segmentation:
- Global Sustained Release Coating Market, By Polymer Material Type:
- Polyvinyl & Cellulose Acetate
- Ethyl & Methyl Cellulose
- Methacrylic Acid
- Polyethylene Glycol
- Others
- Global Sustained Release Coating Market, By Substrate:
- Tablets
- Capsules
- Pills
- Global Sustained Release Coating Market, By Application:
- In Vitro
- In Vivo
- Global Sustained Release Coating Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country:
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country:
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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