Sustained Release Coatings Market to Grow with a CAGR of 4.29% through 2028
The rise in pediatric and geriatric dosage demand is
expected to drive the Global Sustained Release Coatings Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Sustained
Release Coatings Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Sustained Release Coatings
Market stood at USD567.21 million in 2022 and is anticipated to grow with a
CAGR of 4.29% in the forecast period, 2023-2028. The initiatives taken by
government based on sustained release coatings has led to favorable market
conditions for the Global Sustained Release Coatings Market. Several factors
contribute to the growth of various sustained release coatings products.
The Biden-Harris administration has taken several
significant steps to protect communities from the harmful effects of lead in
drinking water and paint. One of these crucial actions is the implementation of
the Lead Pipe and Paint Action Plan, which involves multiple government
agencies working together through the Lead-Based Paint Hazard Reduction
program. This comprehensive plan aims to tackle the issue of lead-based
coatings by reducing their prevalence and promoting the use of safer
alternatives, such as sustained release coatings.
Governments worldwide have shown a growing interest in
supporting research and development in the field of biopolymer-based physical
and chemically crosslinked hydrogels, as well as hydrogel coatings for
sustained drug release. These innovative coatings not only offer a sustainable
and environmentally friendly approach, but they also provide a promising
solution for achieving controlled and targeted drug release. By investing in
these advancements, governments are paving the way for the development of safer
and more effective sustained release coatings that can have a positive impact
on public health and the environment.
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Release Coatings Market”
The demand for sustained release coatings in various
drugs and medications is primarily driven by the increasing need in pediatric
and geriatric dose segments. These sustained release coatings are specifically
designed to release the drug over a specific period, utilizing advanced
technology compared to conventional dosage forms. Furthermore, the rising
demand for sustained release drugs can be attributed to the benefits it offers
to the pediatric and geriatric population, including improved patient compliance,
reduced dosing frequency, and other advantages.
To emphasize the importance of catering to the needs
of pediatric patients, the Pediatric Research Equity Act (PERA) has implemented
a carrot-and-stick technique to incentivize the development of medicines
specifically for this population. By adopting sustained release coatings drug
delivery systems, both the pediatric and geriatric population can benefit from
extended-release capabilities and lower dosages, resulting in better treatment
compliance and relief from challenges such as difficulty swallowing or poor
taste. As a result, the sustained release coatings market continues to grow,
driven by the increasing demand from the geriatric and pediatric dosage
segments.
The Global Sustained Release Coatings Market is
segmented into material type, application, regional distribution, and company
Based on its application, the in vitro segment held
the largest share in the market. This is a direct consequence of pharmaceutical
corporations significantly increasing their investments in research and
development, prioritizing the advancement of scientific knowledge and
innovation.
Based on region, North America segment is expected to
grow during the forecast period.
This can be attributed to the fact that the target
market is currently witnessing a notable surge in demand for microencapsulated
capsules, tablets, and pills. This increased demand can be attributed to
various factors such as the growing awareness among consumers about the
benefits of microencapsulation technology, the rising popularity of controlled
release drug delivery systems, and the expanding application areas of
microencapsulated products in industries such as pharmaceuticals,
nutraceuticals, and cosmetics.
Major companies operating in Global Sustained Release
Coatings Market are:
- BASF SE
- Evonik Industries AG
- Colorcon, Inc.
- Coating Place, Inc.
- Mylan N.V.
- Pfizer, Inc.
- Novartis AG
- GlaxoSmithKline plc
- Sun Pharmaceutical Industries Ltd.
- Eastman Chemical Company
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“Growing application of sustained release coatings in
various end user industries are key drivers of the sustained release coatings market.
Growth in competitive landscape and presence of well-established companies in
the market who are dedicated to enhance their productivity of sustained release
coatings with every passing year are anticipated to register an impressive
growth to Global Sustained Release Coatings Market in the forecast period.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Sustained Release Coatings Market By Material Type (Ethyl
& Methyl Cellulose, Polyvinyl Alcohol, Methacrylic Acid Copolymer,
Cellulose Acetate, Others), By Application (In Vitro, In Vivo), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, 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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