Sustained Release Coatings Market Industry Leaders & New Revenue Pockets

Sustained Release Coatings Market Industry Leaders

The sustained release coating market size is projected to grow from USD 478 million in 2019 to USD 660 million by 2024, at a CAGR of 6.6%, during the forecast period. The demand for sustained release coating has improved in recent years due to its increased consumption in North America. Additionally, the increasing usage of sustained release coating in varied applications, such as In Vitro and In Vivo, has further contributed to the growth of this market.

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The demand for microencapsulated biomolecules is increasing in the pharmaceutical industry due to the need for targeted action. Thus, the development of drugs based on these biomolecules is expected to boost the demand for sustained release coating for effective and targeted delivery of the active ingredients. Sustained release coating technologies are extensively used by pharmaceutical companies to mask the bitter taste or smell of drugs and to facilitate targeted and controlled delivery. Technological advances in the pharmaceutical industry are also driving the growth of the sustained release coating market.

New product launches is one of the major strategies adopted by the key players in the global sustained release coating market. The adoption of this strategy ensured the development of new services and helped the companies strengthen their service portfolios. Companies are also focused on entering new markets by launching technologically advanced and innovative sustained release coating products for varied applications. The key players in this market include Colorcon (US), BASF (Germany), Evonik (Germany), and Coating Place (US). In March 2016, Evonik developed EUDRATEC ADD, a formulation technology to develop alcohol-resistant oral drug products with delayed or sustained release. Through this, the company expanded its range of sustained release coating products.

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North America is considered to be the most active region in terms of strategic initiatives. In April 2019, Colorcon expanded its coating portfolio by adding a range of modified release products of DuPont's Aquacoat technology. The product line includes Aquacoat ECD, a colloidal dispersion of ethylcellulose polymer for sustained release. The coatings will be used in both, pharmaceutical and nutritional solid dose applications. 

SUSTAINED RELEASE COATING (NEW REVENUE POCKETS)

The market size of sustained release coating is estimated to grow from USD 478 million in 2019 to USD 660 million by 2024, at a CAGR of 6.6%, during the forecast period. Continuous innovations in the area of sustained release coating designs for core phase materials also drive the growth of this market. The core materials are encapsulated to prevent active ingredients from various reactions or damage caused by environmental factors such as light, moisture, pH, temperature, and oxygen. Core materials are also microencapsulated for improving the shelf life and controlled release of active ingredients. There are two main applications of sustained release coatings, namely, In Vitro and In Vivo.

Sustained release coating is used to form a microcapsule, which consists of active pharmaceutical ingredients (APIs) in the internal phase surrounded by a coating. The various active materials used in the core of microcapsules are APIs, enzymes, vitamins, pesticides, flavors, and catalysts, which are encapsulated in various polymeric and non-polymeric materials such as polyethylene glycol, polymethacrylate, polystyrene, cellulose, polylactides, polylactide-co-glycolide, gelatin, and acacia. Sustained release coating facilitates better-controlled release and targeted delivery functions as compared to electrical and molecular tagging and sensors.

Sustained release coating is an emerging market and holds significant potential. However, regulatory approval still remains a significant challenge for this market. The opportunity for growth mainly lies in the development of advanced sustained release coating systems for targeted delivery of difficult-to-use ingredients and the use of substrate in sustained release coating. Sustained release coatings are mainly used for substrates, including tablets, capsules, and pills.

In terms of regional coverage, the sustained release coating market has been segmented into five regions, namely, APAC, North America, Europe, South America, and the Middle East & Africa. The high growth opportunities in the emerging countries of this region are attributed to the economic growth and technological advancements. The North American region dominated the sustained release coating market, with the US being the largest contributor, in terms of market share. The market in China is projected to grow at the highest rate due to the development in the pharmaceutical industry. The key manufacturers adopted new product launch strategy to tap into the growing demand from various end-use industries. Colorcon Inc. (US) is the most active player in the sustained release coating market and is continuously updating its existing product portfolio to cater to the growing demand and maintain its competitive edge.

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