ALBANY, N.Y., The global oral thin films market was worth US$ 2.6 Bn in 2019. The market is expected to rise at a CAGR of 9.2% during the forecast period, from 2020 to 2030.
The oral thin films market is likely to reach valuation of US$ 6.6 Bn by 2030. The global oral thin films market is expected to be driven by extensive R&D activities, increase in demand for thin film drug delivery systems, and strategic collaborations between new technology proprietors and major pharmaceutical firms during the forecast period.
Oral thin films with vast surface areas have disintegration, fast wetting, and dissolution, resulting in incremental potential for pharmaceutical firms. They are taking advantage of commercial prospects to treat migraines and schizophrenia, as neurological illnesses are expected to generate the most revenue in the global oral thin films market.
Mechanical qualities of drug eluting oral thin films, such as tear resistance and elongation at break, are key aspects for handling, production, and shipping, and are being taken into consideration by manufacturers. Oral thin films are being developed with the goal of achieving accurate dosing and flexibility, allowing them to be perforated as well as manipulated in size and thickness for the delivery of extremely uniformed dosages.
Key Findings of Market Report
Thin film drug delivery technologies are becoming more popular due to advantages such as a bigger surface area, precise medicine, and pleasing color & flavor when compared to standard drug delivery systems. Patients and medical professionals alike are said to favor thin-film medications, since they are patient-friendly and provide high-quality results. Patients benefit from oral thin film drugs, as they are easy to store and carry. In addition, these provide exact and accurate dosage, resulting in the desired beneficial result. As a result, the thin film drug delivery system market has garnered a lot of traction. The global market has been triggered further by a high degree of acceptability and amazing benefits.
Based on product type, in 2019, the global oral thin films market was led by sublingual films, and this tendency is expected to persist during the forecast timeframe. The category is likely to grow due to a robust product pipeline, significant research initiatives, and increasing market acceptance of sublingual film. In 2019, the neurological diseases category accounted for a significant portion of the worldwide oral thin film market based on indication. The category is likely to be driven by an increase in the incidences of neurological illnesses. In 2019, the retail pharmacies distribution channel category led the market, due to growth in the number of retail pharmacies in developing countries, higher inclination toward retail pharmacies among end users and availability of an extensive variety of items During the forecast period, North America is expected to hold a dominant position in the global market. The regional market is driven by higher product availability, uptake of oral thin films, and existence of several suppliers in comparison with other regions.
Global Oral Thin Films Market: Growth Drivers
As a rising number of people adopt a sedentary lifestyle, companies are developing oral thin films that alter supplement dosing. Pharmaceutical companies in the global market have taken notice of the simple yet rapid method of producing oral strips compared to capsules and tablets. Attributed to the prevalence of regional and global companies and rise in demand for oral thin films, the market in Asia Pacific is likely to grow at a high CAGR during the forecast period. China and Japan are estimated to be profitable regions for the global market. In these nations, there is a substantial senior patient populace with dysphagia, as well as a rise in healthcare spending, which is likely to propel the regional market.
Global Oral Thin Films Market: Key Players
Some of the key market players are
Kyu Pharmaceutical Co Ltd Sunovion Pharmaceuticals, Inc. LIVKON Pharmaceuticals pvt. Ltd. ZIM Laboratories Limited Aquestive Therapeutics, Inc. Cure Pharmaceutical
Global Oral Thin Films Market: Segmentation
Product
Sublingual Film Fast Dissolving Oral Film Buccal Film
Indication
Pain Management Neurological Disorders Nausea & Vomiting Opioid Dependence Others
Distribution Channel
Hospital Pharmacies Retail Pharmacies Online Pharmacies
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