Oral Thin Film Drugs Market size worth USD 4,068.7 million with 8.10% cagr by 2027
Oral Thin Film Drugs Market Overview
According to the latest reports published by Market Research
Future Reports, the global Oral Thin Film Drugs Market size is all set to expand at a CAGR
of 10.50% from 2018 to 2023. Oral drug delivery considered as an
essential part of drug delivery and pharmaceutical industry. Patients with
dysphagia (which means difficulty in swallowing) require oral administration of
drugs. Thus, oral thin film medication is established for a smooth swallow of
medicines than capsules or tablets. The fast-dissolving medicines are a better
alternative than capsules, syrups, and tablets. These drugs are beneficial for
patients on the go or patients with swallowing problems. To improve patient
compliance various types of vaccines and hormones, the market players are
continually making developments in this field, which is, in turn, contributing
tremendously to the global Oral Thin Film Drugs Market size to rise in the
years to come.
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Global Oral Thin Film Drugs Market: Drivers & Trends
The boosting factor for the growth of Oral Thin Film Drugs Market
size can be credited to the expanding geriatric population coupling with the
need for advanced drug delivery methods. Even, factors such as continuous
investments that are being made in research and development (R&D) by
companies and manufacturers to create easy dissolvable solutions for other
diseases is highly expected to spur the market growth over the assessment
period. With that, the introduction of oral thin film drugs in developing
countries can act as a good revenue source for the Oral Thin Film Drugs Market
size in the years to come.
The sharp rise in the Oral Thin Film Drugs Market size is noticed
in the numbers of the elderly population, where the demands of it are likely to
evoke 2018 to 2023 (forecast period). The pharmaceutical
companies and the manufacturers are actively carrying out tremendous research
and development to switch from their existing drugs to the fast-dissolving oral
thin films drugs. This factor is also highly valuing the market in the years to
come with substantial proliferation rate.
The oral thin film drugs delivery system has been used for both systemic
and local action with the help of several routes such as oral, buccal,
sublingual, ocular, and transdermal routes. Thus, the production of oral thin
films is continually upgraded to the next level with the advancement in
technology. These are being used extensively to offer enhanced taste masking
and with easy absorption. Therefore, the growing reputation of oral thin films
as an emerging, and effective drug delivery system is foreseen to push the
growth of the oral thin film market in the projected time.
On the flip side, the expensive cost of treatments that involves
oral thin films is projected to loom over the market as a serious threat that
could discourage the rise in demand for oral thin films drugs. Other factors
such as the requirement of enormous research investment and challenges related
to the development of drug could hamper the demand in the global oral thin
films market. On the other hand, however, the market is prognosticated to
exhibit stable growth with penetration rate, approval, and development of more
drugs with more advanced characteristics.
Key Players
Some prominent players in the Oral Thin Film Drugs Market size
include Johnson & Johnson Services, Inc. (U.S.), Pfizer Inc.
(U.S.), CURE Pharmaceutical (U.S.), Novartis AG (Switzerland), LTS Lohmann
Therapie-Systeme AG (Germany), GlaxoSmithKline Plc (U.K.) and Indivior Plc
(U.S.).
Segmental Overview
According to the research done by Market Research Future Reports,
the global Oral Thin Film Drugs Market size has been segmented by product, disease
indication, and distribution channel.
By the mode of product, the market is categorized into sublingual
and fast dissolving buccal film.
By the mode of disease indication, the market is segmented into
opioid dependence, migraine, schizophrenia, and nausea and vomiting, and
others.
By the mode of distribution channel in the report includes
hospital pharmacies, retail pharmacies, online drug stores, and others.
Regional Analysis
In the reports of MRFR, geographically the Oral Thin Film Drugs
Market size is analyzed among essential regions such as Americas, Europe, Asia
Pacific (APAC), and the Middle East & Africa.
Among these, the Americas accounts the lion’s share of the market
in 2017 owing to the factors such as the existence of
well-known players in the healthcare sector, increased healthcare expenditure
of nations such as the U.S., as well as sophisticated healthcare expenditure.
Then comes the European Oral Thin Film Drugs Market size, which
is also expanding at a higher CAGR over the forecast period owing to some
supportive government healthcare funds that are helping the patients to
overcome diseases. The strong economies of France, Germany, and the U.K.
generally contribute to market revenue, which will extend until 2023
as well.
The Asia Pacific region is also touted to experience a robust
growth rate of the market owing to developing economies in India, China, Japan,
and more, changing the healthcare sector, and increasing geriatric population.
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