Many of the targeted athletes have been revealed to have received TUEs for the use of substances that would usually be on the World Anti-Doping Agency (WADA) banned list.
TUEs can be issued to athletes who have an illness or condition that requires the use of normally prohibited medication.
Among those with a history of TUE use who have had their medical details leaked as a result of a hack into the WADA system by cyber group Fancy Bears, which is believed to be based in Russia, are American tennis stars stars Serena and Venus Williams, American gymnast Simone Biles and British Tour de France-winning cyclists Bradley Wiggins and Chris Froome.
However, the leaking of their records has re-opened the debate about TUEs and in particular whether the system is open to abuse from competitors gaining a performance advantage by taking banned drugs when they are not suffering from a relevant medical condition.
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But International Association of Athletics Federations president Coe told BBC Radio 5 Live's Sportsweek programme on Sunday: "I think the TUEs system is a good system.
"Do we have to make sure that it is not being abused? Yes, of course. There is potential for that (exploitation), but I don't think it is commonly the case," added British middle-distance great Coe, the Olympic 1500 metres champion at both the 1980 Moscow and 1984 Los Angeles Games.
Coe also insisted the TUE process was subject to detailed medical checks.
"TUEs are only given on the basis of an independent panel, it is not a general practitioner signing them off."
'Difficult area'
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Coe, who used a spray to combat asthma during his own track career, said athletes deserved to have their medical records kept confidential.
"They have the right to the same types of privacy that we all have around our private medical information," he said.
Meanwhile Coe called for reform of WADA to enable the
global body to be effective in the ongoing campaign to rid sport of doping.
"WADA was created 17 years ago and it has done a phenomenally good job, but the world has dramatically changed in that period," Coe said.
"The discussions should be focused on the challenges of having an organisation that has the dual policy of policing and regulation, whether it's the same authority or same organisation that's done that.