New York, United States, Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Global Sustained Release Coatings Market Size To Grow from USD 5.6 Billion in 2022 to USD 8.8 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period.
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Sustained release coatings, also known as controlled-release coatings or extended-release coatings, are pharmaceutical formulations designed to manage the release of active ingredients from a drug dosage form over an extended period of time. These coatings are applied to tablets, capsules, pellets, or other pharmaceutical products to alter the drug release kinetics, resulting in a more extended and controlled drug delivery profile. Sustained release coatings enable less frequent dosing, which boosts patient compliance and convenience. Sustained release coatings can boost treatment effectiveness by optimising pharmaceutical concentrations at the target site and avoiding subtherapeutic levels.
COVID 19 Impact
The pandemic increased demand for medications used to treat COVID-19, such as antivirals, anti-inflammatories, and other supportive medications. Sustained release coatings may have been more crucial for these medicines in order to improve therapeutic outcomes and drug delivery. During the pandemic, there was a rise in interest in long-acting or extended-release medication formulations as a means of improving patient compliance and lowering hospital admissions, particularly for chronic illnesses. Numerous clinical trials for innovative drugs or formulations were either halted or postponed as a result of the pandemic's restrictions and safety concerns. This may have had an effect on the creation and approval of sustained release coating technologies for innovative drugs. Some pharmaceutical companies were compelled to focus their efforts and finances on developing treatments and vaccines for COVID-19, diverting their funding and attention away from other investigations, such as delayed release coatings for existing drugs.
The market for sustained release coatings is driven by the need for controlled, prolonged drug administration, which can improve patient compliance, cut down on dose frequency, and increase therapeutic efficacy. Globally, the prevalence of chronic diseases like diabetes, heart disease, and CNS illnesses is rising. Because these ailments typically necessitate long-term medicine, sustained release formulations are more desirable for effectively controlling specific problems. One of the unique drug delivery systems that has developed as a result of continuous pharmaceutical research and development is sustained release coatings. The anticipation that these technologies will offer better control over pharmaceutical release kinetics will increase their use even more. As healthcare infrastructure in developed countries improves, the demand for innovative pharmaceutical formulations, particularly continuous release coatings, is predicted to increase.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Sustained Release Coatings Market Size, Share, and COVID-19 Impact, By Type (Tablets, Capsules, Pills), By Application (In Vitro, In Vivo), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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Type Insights
Tablets segment is dominating the market with the largest market share
On the basis of type, the global sustained release coatings market is segmented into capsules, tablets, and pills. Among these, tablets segment is dominating the market with the largest market share over the forecast period. Chronic conditions like diabetes, cardiovascular disease, and neurological problems require long-term therapy. Sustained release tablets improve management of a variety of illnesses by providing controlled drug administration and reducing dose frequency. As a result of continued research and development in drug delivery technology, novel sustained release coatings have been developed that provide better control over drug release kinetics. These advancements have made the use of delayed release coatings on tablet surfaces possible for a wider range of drugs. The increased emphasis on patient-centered care in the healthcare industry has boosted the demand for drug formulations that improve patient convenience and outcomes, such as prolonged release tablets.
Application Insights
In Vitro segment holds the highest market share over the forecast period
Based on the application, the global sustained release coatings market is segmented into In Vitro and In Vivo. Among these, In Vitro segment holds the highest market share over the forecast period. The pharmaceutical industry continues to invest in research and development in order to bring cutting-edge drug products to market. In vitro testing of sustained release coatings is necessary during the medication development process to evaluate the efficacy, stability, and release kinetics of the formulations. With the growth of the pharmaceutical sector, it is projected that the demand for in vitro testing of sustained release coatings would rise. The development of the in vitro market for sustained release coatings is still hampered by challenges like standard testing protocols, data interpretation, and maintaining reproducibility.
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Asia Pacific dominates the largest market share over the forecast period
Among all other regions, Asia Pacific dominates the largest market share over the forecast period. Several Asian countries have seen an increase in healthcare spending as a result of rising income levels and improved access to healthcare. The demand for increasingly advanced pharmaceutical products, like formulations for prolonged release, is rising as a result. Many countries in the Asia-Pacific region are investing in the R&D of pharmaceuticals. This includes the creation of novel drug delivery methods, including sustained release coatings, to improve treatment effectiveness and patient outcomes.
North America is witnessing the fastest market share over the forecast period. The area has a very high prevalence of chronic illnesses like diabetes, cardiovascular issues, and central nervous system abnormalities. Sustained release coatings for medications that are used to treat a variety of chronic illnesses may improve patient compliance and treatment outcomes. North America is the primary location for pharmaceutical industry research and development, especially advancements in medication delivery techniques. Novel sustained release coatings are being created through ongoing research and investment to enhance pharmaceutical therapy.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Sustained Release Coatings Market include BASF SE, Evonik Industries, Colorcon, Coating Place, Inc, Panchsheel Organics Ltd.., Sbpanchal, Meenaxy Pharma Pvt Ltd., LFA Machines Oxford LTD, Aurora, Merck KGaA, SEPPIC, Ashland, G. M. Chemie Pvt. Ltd, Eastman Chemical Company and other key vendors.
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Recent Market Developments
- In January 2022, Sprinkle capsules and DR (delayed-release) pills are the two forms of Depakote and Depakote ER dosage available.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Sustained Release Coatings Market based on the below-mentioned segments:
Sustained Release Coatings Market, Type Analysis
- Capsules
- Tablets
- Pills
Sustained Release Coatings Market, Application Analysis
- In Vitro
- In Vivo
Sustained Release Coatings Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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