SUSTAINED RELEASE COATING MARKET ANALYSIS

Sustained-release coating tablets are formulated in such a way that the release of the drug and its absorption will be slow. This will result in a lower peak blood level and hence, a lower risk of associated adverse effects such as gastrointestinal obstruction, nausea, vomiting and others. In sustained-release form, tablets can be administered in a single large dose just once a day. SR indicates sustained-release; a generic term that is used to describe the controlled release in the formulations of drugs that include alprazolam, bupropion, clomipramine, quetiapine, and others. Sustained-release coating tablets maintain uniform blood levels of the drug in the body and decrease the high blood levels, compared to immediate-release coating tablets.

Global Sustained Release Coating Market - Impact of the Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic is expected to drive the growth of the global sustained release coating market over the forecast period. The demand for coating tablets significantly rose during the pandemic. Pharmaceutical and biotech businesses and governments across the world have worked endlessly to combat the COVID-19 outbreak. As a result, it increased the production and demand for tablet coating. Because many affluent countries are witnessing a shortage of this medications, the booming demand has contributed to enormous prospects for developers of developers of drugs that are widely used to treat COVID-19 infection.

Increasing number of product approvals from regulatory bodies is expected to drive the growth of the global sustained release coating market over the forecast period. For instance, on August 13, 2021, Zydus Cadila, a pharmaceutical company, announced that it received final approval from the U.S. FDA to market Mesalamine Extended-Release Capsules in the strength of 0.375 g. Mesalamine Extended-Release capsules are indicated for the maintenance of remission of ulcerative colitis in adults.

The global sustained release coating market is estimated to be valued at US$ 508.2 Mn in 2021 and is expected to exhibit a CAGR of 6.6% over the forecast period (2021-2028).  

Figure 1: Global Sustained Release Coating Market Share (%) Analysis, By Polymer Material Type, 2021

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Increasing number of product launches by the market players is expected to drive the growth of the global sustained release coating market over the forecast period.

Market players are focused on organic growth strategies such as product launches, which is expected to drive the growth of the market over the forecast period. For instance, in August 2020, Lupin Limited., a pharmaceutical company, announced the launch of Zileuton Extended-Release Tablets, 600 mg, for the treatment of chronic asthma in adults.

Increasing number of product approvals from regulatory bodies is expected to drive the growth of the global sustained release coating market over the forecast period.

Increasing approvals from the regulatory authorities is expected to drive the growth of the global sustained release coating market over the forecast period. For instance, on March 26, 2021, Astellas Pharma Inc. announced that the U.S. Food and Drug Administration (FDA) approved Myrbetriq (mirabegron extended-release tablets) for the treatment of NDO in pediatric patients aged three years and older who weigh 35 kg or more, and Myrbetriq Granules (mirabegron for extended-release oral suspension), indicated for the treatment of NDO in pediatric patients aged 3 years and older.

Global Sustained Release Coating Market – Restraints

Increasing number of product recalls is expected to hinder the growth of the global sustained release coating market over the forecast period. For instance, on December 28, 2021, Viona Pharmaceuticals Inc., a pharmaceutical company, announced the recall of twenty three (23) lots of Metformin Hydrochloride Extended-Release Tablets, USP 750 mg. This product was manufactured by Cadila Healthcare Limited, a pharmaceutical company, Ahmedabad, India for the U.S. distribution by Viona Pharmaceuticals Inc.

Global Sustained Release Coating Market – Regional Analysis

On the basis of region, the global sustained release coating market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to hold a dominant position during forecast period, owing to increasing number of inorganic growth strategies such as distribution agreement by market key players. For instance, in October 2018, Lannett Company, Inc., a manufacturer and distributor of generic products, announced that it entered into an agreement with Adare Pharmaceuticals, Inc., a pharmaceutical company, to be the exclusive U.S. distributor of Dexmethylphenidate Hydrochloride Extended Release (ER) Capsules USP (CII), 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, 30 mg, 35 mg, and 40 mg.

Figure 2: Global Sustained Release Coating Market (US$ Mn), by Region, 2021

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Global Sustained Release Coating Market – Competitive Landscape

Major 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.