Oral Thin Films Market to Grow at a CAGR of 9.3% during Forecast Period, as per Transparency Market Research, Inc. Study
The rise in usage of patient-friendly drug delivery systems is anticipated to accelerate market growth in the next few years
Wilmington, Delaware, United States, , Feb. 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global Oral Thin Films Market value stood at US$ 2.9 Bn in 2021 and is projected to surpass US$ 7.1 Bn by 2031. The global market is estimated to grow at a CAGR of 9.3% during the forecast period from 2022 to 2031. An increase in demand for thin-film drug delivery methods and rise in R&D spending on fast-dissolving oral films are expected to drive business opportunities in the global oral thin films market. The capacity of oral thin films (OTFs) to include even poorly soluble medications has led to significant demand for the product. An increase in the usage of patient-friendly drug delivery systems is anticipated to accelerate market development.
OTFs have a substantially higher surface area than conventional drug delivery systems, which allows them to be wetted, dissolved, and broken down much more quickly. They can also be developed to have an attractive color and flavor for the purpose of attracting young children. Vendors in the market are making considerable investments in the formulation, pre-development, and clinical supply production of new products to expand their oral thin film market share.
Oral thin-film technology is easy to use and advantageous for patients who have difﬁculties swallowing, and for those who are young, elderly, or immobilized. These medication delivery methods include oral, buccal, sublingual, ophthalmic, and transdermal administration.
OTFs can be referred to as "precision medication," as they include perforations in a single film that allow for precise and adaptable dosage. They are perfect for kids who require dosages that are lower and more fluctuating. Oral thin films are another option for adults who just need to take a portion of their prescription.
Several studies are looking at cutting-edge particle engineering methods to find fresh approaches to improve the solubility of water-insoluble pharmaceuticals in OTFs. The maximum amount of drugs that OTFs can transfer is 10 to 20 mg. The usage of OTFs as a standard dosage form for all drugs can be developed with the support of further scientific investigations.
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Key Findings of Market Report
Fast-dissolving oral films are the newest and most sophisticated oral solid dosage forms. Additionally, it provides more comfort and flexibility. Oral films that dissolve quickly in the mouth after coming into contact with saliva and without chewing increase the effectiveness of APIs. Oral films that dissolve quickly can be administered without water. These medications have an immediate bioavailability owing to the high blood flow and oral mucosa absorption. These advantages are expected to fuel business opportunities in the global oral thin films market between 2022 and 2031.
The market for oral thin films is anticipated to be dominated by the neurosurgical disorder indication segment during the forecast period. High incidence of neurological illnesses globally is likely to drive the growth of the neurosurgical disorder indication segment. Neurological illnesses constitute the third-leading cause of disability and early mortality in the European Union. Oral thin films are ideal for treatments requiring quick medication absorption, such as those for nervous system diseases, allergies, pain, and sleep problems.
The sublingual film product segment had a sizable market share in 2021, based on the most recent market research on the global oral thin films industry. High sublingual mucosa vascularization and thin membrane structure contribute to high membrane permeability. Sublingual drug administration involves inserting the drug under the tongue. The drug is more quickly absorbed into the systemic circulation via the sublingual route since it bypasses first-pass metabolism. Blood arteries are used to deliver the medication directly into the systemic circulation. Considerable research efforts, a robust product pipeline, and increase in adoption of sublingual film are estimated to drive the growth of the segment in the global market.
The retail pharmacies distribution channel segment is anticipated to drive industry growth in the next few years. Growth in inclination toward retail pharmacies, ease of accessing a broad range of products, and door-step delivery is projected to fuel the segment in the global industry.
Global Oral Thin Films Market: Growth Drivers
Adults who have trouble swallowing, such as the elderly, small children, and individuals who suffer from nausea, can benefit from medications delivered via OTFs. As a result, oral thin films are anticipated to replace more drugs for a broader variety of illness indications in the near future. An expansion in the elderly populace is also expected to accelerate market development for the oral thin films industry.
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Global Oral Thin Films Market: Regional Landscape
North America is likely to dominate the global market during the forecast period. Growth in R&D spending as well as approval and introduction of novel oral thin films are estimated to boost market demand in the region.
Global Oral Thin Films Market: Key Players
Some of the key market players are:
Kyu Kyu Pharmaceutical Co., Ltd.
Aquestive Therapeutics, Inc.
Sunovion Pharmaceuticals Inc.
DK Livkon Pvt. Ltd
Dr. Reddy's Laboratories
ZIM Laboratories Limited
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Global Oral Thin Films Market: Segmentation
Fast-dissolving Oral Film
Nausea & Vomiting
Middle East & Africa
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About Transparency Market Research
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