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Global Oral Thin Films Market Growth Accelerated by Product Advantages

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Sneha
Global Oral Thin Films Market Growth Accelerated by Product Advantages

Oral thin films are the thin oral strips that dissolve rapidly in the mouth to deliver active pharmaceutical ingredients. They are easy to administer, cause less irritation in the oral cavity and provide faster absorption of drugs. They are increasingly being preferred over other dosage forms for their convenience, precision of dosing, and better patient compliance.

The global Oral Thin Films Market is estimated to be valued at US$ 2895.55 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increasing product launches is one of the key trends driving the growth of the oral thin films market. Many pharmaceutical companies are focusing on developing advanced oral thin films with improved drug delivery for various therapeutic applications. For instance, in 2022, PL Developments launched Palafermouth mouth-dissolving strips containing paracetamol for pain relief. These strips dissolve rapidly in the oral cavity for fast action. Similarly, companies are also launching oral thin films containing other active ingredients to expand their consumer base and market share. Growing product launches with enhanced characteristics like fast disintegration and higher drug loading is expected to support the oral thin films market growth over the forecast period.

Segment Analysis

The global oral thin films market is dominated by the anti-infective segment, which accounted for a major share in 2023. The large share of this segment can be attributed to the increasing prevalence of infectious diseases worldwide. Within this segment, antimicrobial oral thin films is the dominating sub-segment owing to the rising concerns regarding antibiotic resistance and the need for alternative drug delivery forms for systemic infections.

Key Takeaways

The Global Oral Thin Films Market Size is expected to witness high growth over the forecast period of 2023 to 2030. This rapid growth can be attributed to factors like rising geriatric population, increasing preference for convenient dosage forms and growing demand for OTC drugs.

Regional analysis: North America dominated the global market in 2023 and is expected to continue its dominance during the forecast period. This is attributed to factors like well-established healthcare infrastructure, preference for innovative drug delivery systems and presence of major market players in the region. Asia Pacific is projected to witness the highest growth rate over the next few years owing to growing patient pool, rising healthcare expenditure and increasing investments by market players.

Key players: Key players operating in the oral thin films market are ANDRITZ (Austria), Thyssenkrupp (Germany), GEA Group Aktiengesellschaft (India), Metso (Finland), FLSmidth (Denmark), Buhler Holding AG (Switzerland), Anivi (Spain), Carrier Vibrating Equipment, Inc. (U.S.), Mitchell Dryers Ltd (U.K.), Yamato Sanko Co., Ltd. (Japan), Kerone Engineering Solutions (India), Ventilex.(Netherlands), FEECO International, Inc (U.S.), GEM MACHINERY & ALLIED INDUSTRIES (India), Glatt GmbH, Binzen (Germany), Cadworks India Pvt. Ltd.(India) ,FEECO International, Inc. (U.S.). The market is highly competitive in nature with major players focusing on new product launches and mergers & acquisitions to strengthen their foothold.

Explore more information on this topic, Please visit -

https://www.insightprobing.com/oral-thin-films-market-share-and-demand-analysis/ 

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