Oral Thin Film Drugs Market Size Worth USD 6.21 Billion by 2030 at 9.01% CAGR – Report by Market Research Future (MRFR)

New York, USA, May 02, 2023 (GLOBE NEWSWIRE) — Oral Thin Film Drugs Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Oral Thin Film Drugs Market Information By Product, Disease Indication, Distribution Channel, End User and Region – Forecast till 2030”, the market size was valued at USD 3.4 billion in 2022 and is projected to grow from USD 3.7 Billion in 2023 to USD 6.21 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.01% during the forecast period (2023 – 2030). 

Market Scope:

One of the operational Parkinson’s disease treatments is thought to be oral thins. Therefore, it is anticipated that the increasing incidence of Parkinson’s disease will fuel consumer interest in oral thins, thereby boosting the market growth. The pharmaceutical industry is using thin films to deliver drugs in novel ways. Because OTFs have holes in a single film that allow for precise and adaptable dosing, they can be called “precision medications.” They are perfect for kids who require smaller and more fluctuating doses. Oral thin films are another option for adults who want only to take a portion of their medication. Several studies are looking into cutting-edge particle engineering methods to find fresh approaches to improve the dissolution of water-insoluble drugs in OTFs. OTFs are mono or polymer-based very thin films.

They frequently consist of soluble, water-based polymers designed for quick drug delivery. Alternative dosage forms to traditional dosage forms include thin films. They are adaptable systems that have local, systemic, or immediate effects. Oral thin-film technology is easy to use and advantageous for patients who have trouble swallowing and those who are young, old, or bedridden. These drug delivery methods include oral, buccal, sublingual, ocular, and transdermal administration. The market size of oral thin films is driven by increased R&D spending on quickly dissolving oral films and the popularity of thin-film drug delivery systems. OTFs have a surface area far greater than other drug delivery methods, allowing them to be wetted, dissolved, and broken down much more quickly. They can also be created to appeal to young children with an appealing look and flavor.

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Report Scope:

Oral Thin Film Drugs Market Competitive Landscape:

The significant contenders in the oral thin film drugs market are:

• LTS Lohmann Therapie-Systeme AG
• Johnson & Johnson Services
• Pfizer Inc
• CURE Pharmaceutical
• Novartis AG
• GlaxoSmithKline Plc
• Indivior Plc

Oral Thin Film Drugs Market Trends:

Market Drivers:

Oral thin film drug delivery has several benefits, which are also the main drivers of market expansion. The most recently developed oral solid dosage type is fast-dissolving oral film. It provides more comfort and flexibility. Fast-dissolving oral films increase the effectiveness of API by dissolving in the oral cavity without chewing within minutes of meeting saliva. Oral films that dissolve quickly don’t need water to be administered. Due to the rapid blood flow and oral mucosa absorption, these medications have instant bioavailability. In the coming years, these advantages will probably fuel the oral thin films industry’s growth. The most effective method of drug delivery is oral. For elderly people and pediatric patients, though, it is frequently inconvenient.

By melting the drug in the buccal cavity, oral disintegrating films have proven effective in distributing quick drug action. These films’ main benefits are adaptability in dosage and simplicity in administration. Due to their advantages over traditional drug delivery systems, such as their precision medication, greater surface area, and appealing color and flavor, oral thin film drug delivery systems are growing in popularity. Because they are more patient-friendly and produce excellent results, thin-film medications are said to be the choice of both patients and doctors. Oral thin film medications have a high patient compliance rate and are easy to transport and store. Additionally, they offer accurate and precise dosing while delivering the desired outcomes. The demand for thin film drug delivery systems has increased as a result.

Market Restraints:

The market is anticipated to be hindered by the difficulties associated with drug development and the significant research investment necessary to produce simple and novel formulations.

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COVID 19 Analysis

The market was affected by the COVID-19 outbreak. Schizophrenia and migraine patients had a higher risk of dying from COVID-19. As one of the effective treatments for such conditions, the demand for oral thins increased in the early days of the pandemic. The demand increased as new virus strains emerged, likely continuing throughout the forecast period. Oral thin film drugs have seen explosive growth in the market due to their high acceptance and impressive benefits. They can cause drugs to enter the circulatory system through oral and sublingual absorption directly and are quick-acting. The ability of oral thin films (OTFs) to incorporate even drugs that are not readily soluble has led to a high demand for them. During the forecast period, increased patient-friendliness in drug delivery systems is anticipated to support market expansion.

Oral Thin Film Drugs Market Segmentation

By disease indication, the market includes nausea & vomiting, opioid dependence, schizophrenia, and migraine.

By product, the market includes fast-dissolving buccal film and sublingual.

By distribution channel, the market includes retail pharmacies, hospital pharmacies, and online drug stores.

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Oral Thin Film Drugs Market Regional Insights

The business is expected to be dominated by North America during the forecast period. The region’s market share is driven by increased R&D spending and the approval and introduction of new thin oral films. Rising target disease cases, greater consumption of oral thin films due to their many benefits, and product launches by major players are all contributing factors to the growth. Over the forecast period, the sublingual film market is anticipated to grow due to factors including the rising prevalence of targeted diseases, studies and research associated with oral thin films, new product introductions, and cooperative and strategic initiatives implemented by market players. Asia-Pacific is predicted to experience rapid industry growth. Increased geriatric population, rise in healthcare spending, and widespread distribution of oral thin film manufacturers locally and internationally are driving market growth in the area.

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