Aqueous formulations that include at least one active pharmaceutical ingredient; and at least one excipient, wherein the aqueous formulation has a viscosity of from 500 to 30,000 centipoise when measured at a shear rate of 100 s−1 and a temperature of 25° C.; a surface tension that is not greater than 60 dynes/cm when measured under ambient conditions; or a contact angle on a medical grade polymeric material of 50° or greater when measured under ambient conditions. Methods of coating and coated microneedle arrays using the aqueous formulations are also disclosed herein.