Rising Demand For Oral Thin Films Drives The Growth Of Global Oral Thin Films Market

https://www.coherentmarketinsights.com/market-insight/oral-thin-films-market-5236
Oral Thin Films Market 

Market Overview:

Oral thin films are a type of dosage form that rapidly dissolves in the oral cavity, delivering the active pharmaceutical ingredient directly into the bloodstream. These thin films offer numerous advantages such as ease of administration, convenience, enhanced patient compliance, and precise dosing. They are particularly useful for patients who have difficulty swallowing tablets or capsules. The increasing prevalence of chronic diseases, rising geriatric population, and growing demand for innovative drug delivery systems are driving the growth of the global oral thin films market.

Market Key Trends:

One key trend in the oral thin films market is the growing adoption of oral thin films as an alternative to traditional drug delivery methods. The ease of administration and rapid onset of action offered by oral thin films make them an attractive option for patients. In addition, oral thin films also provide better bioavailability and improved therapeutic efficacy compared to other oral dosage forms. These advantages have led to increased demand for oral thin films across various therapeutic areas, including pain management, central nervous system disorders, and hormonal disorders. As a result, pharmaceutical companies are investing heavily in the development and commercialization of oral thin film products.

The Oral Thin Films Market Size is estimated to be valued at US$ 2,450.6 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

In terms of product type, the dominating segment in the oral thin films market is the sublingual films. Sublingual films are placed under the tongue and quickly dissolve, allowing for direct absorption into the bloodstream. These films are commonly used for drugs that require rapid onset of action, such as pain relievers and sedatives. Sublingual films offer advantages over other oral dosage forms, such as tablets or capsules, as they eliminate the need for swallowing and the potential for gastrointestinal degradation. Additionally, sublingual films provide better bioavailability and improved patient compliance. Due to these factors, the sublingual films segment is expected to dominate the market during the forecast period.

Key Takeaways

The global oral thin films market is expected to witness high growth, exhibiting a CAGR of 8.7% over the forecast period of 2023-2030. This growth can be attributed to several factors. Firstly, there is a growing demand for convenient and patient-friendly drug delivery systems. Oral thin films offer ease of administration, especially for pediatric and geriatric patients, who may have difficulty swallowing traditional tablets or capsules. This is expected to drive the adoption of oral thin films in the healthcare industry.

Regionally, North America is anticipated to be the fastest-growing and dominating region in the oral thin films market. This can be attributed to the presence of key players in the region, as well as the rising prevalence of chronic diseases and the increasing geriatric population. Moreover, the favorable reimbursement policies and advanced healthcare infrastructure in North America further contribute to the growth of the oral thin films market in this region.

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 companies are focusing on research and development activities, strategic collaborations, and mergers and acquisitions to strengthen their market position and expand their product offerings. The competitive landscape of the oral thin films market is highly fragmented, with intense competition among key players.

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