The global Oral Thin Films Market is estimated to be valued at US$ 2,450.6 Mn in 2021 and is expected to exhibit a CAGR of 8.7% over the forecast period (2022-2028), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Oral thin films are a novel drug delivery system that dissolves rapidly in the mouth without the need for water. These films are easy to administer, convenient, and offer better patient compliance compared to traditional dosage forms such as tablets or capsules. Moreover, oral thin films provide advantages such as improved bioavailability, precise dosing, enhanced drug stability, and rapid onset of action. These benefits have led to a growing demand for oral thin films, especially in the geriatric population and pediatric patients who may face difficulty swallowing conventional solid dosage forms.
Market Key Trends:
One key trend driving the growth of the oral thin films market is the increasing adoption of oral thin films for the delivery of various therapeutic drugs. With advancements in thin film technology, pharmaceutical companies are developing innovative formulations to enhance drug absorption and improve patient experience. Oral thin films have gained significant attention in the treatment of conditions such as migraine, motion sickness, opioid addiction, and smoking cessation. The ease of administration and rapid onset of action offered by oral thin films are driving their acceptance among healthcare professionals and patients.
Another trend influencing the market is the rise in partnerships and collaborations between pharmaceutical companies and thin film manufacturers. These collaborations aim to leverage the expertise of both parties to develop new oral thin film products or improve existing formulations. For instance, in October 2021, IntelGenx Corp. entered into a collaboration agreement with Shoppers Drug Mart, a leading Canadian pharmacy retailer, to develop and commercialize CBD-infused oral thin films. Overall, the market for oral thin films is expected to witness high growth in
PEST Analysis:
Political: In the oral thin films market, political factors play a crucial role in shaping the regulatory environment for the industry. Government regulations and policies related to pharmaceutical products, including oral thin films, can impact market growth. Factors such as patent laws, drug approvals, pricing regulations, and international trade agreements can influence the market dynamics.
Economic: The economic factors influencing the oral thin films market include factors such as economic growth, healthcare expenditure, and disposable income. The market is driven by increasing healthcare spending and rising prevalence of chronic diseases, which create a demand for innovative drug delivery systems like oral thin films. Additionally, factors such as cost-effectiveness and convenience offered by oral thin films compared to traditional dosage forms can also drive market growth.
Social: On the social front, changing demographics, lifestyle patterns, and healthcare awareness are important factors impacting the oral thin films market. The increasing aging population, along with the desire for patient-friendly drug delivery systems, is driving the demand for oral thin films. Moreover, the preference for non-invasive and needle-free drug delivery methods is also contributing to the market growth.
Technological: Technological advancements and innovations play a significant role in the oral thin films market. The development of improved manufacturing techniques, formulation technologies, and drug delivery systems enhance the efficacy and performance of oral thin films. Additionally, the integration of novel technologies like nanotechnology and personalized medicine can further drive market growth by offering targeted therapies and personalized treatment options.
Key Takeaways:
The global Oral Thin Films Market Insights is expected to witness high growth, exhibiting a CAGR of 8.7% over the forecast period of 2022-2028. This growth is primarily driven by the increasing prevalence of chronic diseases, rising healthcare expenditure, and the growing demand for patient-friendly drug delivery systems. The market is projected to reach a market size of US$ 2,450.6 million in 2021.
Regionally, North America is expected to be the fastest-growing and dominating region in the oral thin films market. This can be attributed to factors such as the presence of key market players, favorable government policies, and the high adoption rate of advanced healthcare technologies in the region. The Asia Pacific region is also anticipated to witness significant growth due to improving healthcare infrastructure, increasing healthcare awareness, and rising disposable income.
Key players operating in the oral thin films market include C L Pharm, Cure Pharmaceutical, Sunovion Pharmaceuticals Inc., ZIM Laboratories Limited, NAL Pharma, Viatris, LTS Lohmann Therapie-Systeme AG, IntelGenx Corp., and Aquestive Therapeutics Inc., among others. These players are focusing on research and development activities, strategic collaborations, and product launches to gain a competitive edge and expand their market presence in the oral thin films sector.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the oral thin films market include Pfizer, Inc., ZIM Laboratories Limited, Novartis AG, Wolters Kluwer, Solvay, Allergan plc, Sumitomo Dainippon Pharma Co., Ltd., IntelGenx Corp., Indivior plc and MonoSol Rx.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Oral Thin Films Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/oral-thin-films-market/download-sampleMarket DynamicsThe oral film is made up of hydrophilic polymers that quickly dissolves on the tongue or buccal cavity, delivering the drug to the systemic circulation via dissolution when contact with liquid is made.
Therefore, the sublingual oral thin film is a better alternative for tablets, as it provides complete drug delivery for quick relief.
Therefore, oral thin film medication is developed for swift oral administration of medicines.
The use of oral thin films for preventing gastrointestinal degradation of acid-sensitive drugs will drive the global market.
