The market for oral thin film drugs is expected to reach US $6274.7 Million by 2030 registering a CAGR of 9.21% during the period forecast of 2024 to 2032. Oral thin films are drug delivery dosage device that is made up of a mono-polymeric thin film that is deposited in the mouth for a fast release of an active pharmaceutical ingredient (API) when placed on the tongue. The absorbed medicinal chemicals are then sent straight into the circulatory system. The popularity of oral thin film (OTF) medications can be attributed to the ease with which they are dissolved in the body. The increasing proportion of elderly people in the community has resulted in an increase in the demand for innovative approaches to the administration of drugs to treat and prevent chronic conditions such as diabetes. The growth of the market for oral thin film pharmaceuticals is anticipated to be helped along by an increase in the amount of money that businesses invest in research and development (R&D) in order to discover soluble treatments for a variety of diseases. When introduced in less developed nations, OTF medications have the potential to increase revenue for the market.
The rising incidence of Parkinson's disease is expected to stimulate consumer demand for OTFs
The increasing prevalence of target diseases as well as the benefits that come with using thin films is boosting the market for OTFs. For example, the Parkinson's Foundation 2021 estimated that there were more than 10.0 million people living with Parkinson's disease around the world. According to another finding from the same survey, there were approximately one million people in the United States living with Parkinson's disease in the year 2021. Also, the probability of developing Parkinson's disease rises with age; as a result, the growing elderly population around the world is anticipated to have a beneficial impact on the market. In addition, a report published by the Parkinson's Foundation in 2021 projects that there will be an additional 1.2 million people affected with Parkinson's disease by the year 2030. This projection is based on current trends. It is generally agreed that oral thins are among the more successful therapies for Parkinson's disease. As a result, the rising incidence of Parkinson's disease is expected to stimulate consumer demand for oral thins, which will, in turn, drive the expansion of the market.
Growth in investment in R&D of fast-dissolving oral films driving oral thin films market statistics
Oral film that dissolves quickly is the most recent and technologically advanced form of an oral solid dose. It provides increased versatility as well as comfort. Oral films that dissolve quickly improve the efficiency of APIs since they do not require chewing in order to dissolve in the oral cavity within minutes of coming into touch with saliva. Oral films also do not require the use of water during the administration process. Because of the strong blood flow and the ability of the oral mucosa to absorb substances, these medications are absorbed rapidly and have an immediate effect on the body. Because of these advantages, it is anticipated that the oral thin films business will experience growth over the next few years.
Key Opportunities
The opportunity for the OTF market is in the expansion in the global sector that has been fuelled by a high level of tolerance, in addition to great benefits. The growth of the oral thin film market has been fuelled, in part, by the increased investment of major players in research and development (R&D). In order to strengthen their positions in the oral thin film market, major companies in this market are concentrating their efforts on the development of quickly dissolving oral thin films by employing novel platform technologies such as soluleaves, XGEL, and waferTab.
Sublingual Film Products Dominating the Market
According to the most recent findings of an in-depth study on the oral thin films market, the sublingual film product segment held a substantial proportion in the year 2023. The sublingual mucosa has a high level of vascularization, which, along with the thin membrane structure, results in a high level of membrane permeability. The bioavailability of the sublingual mucosa is exceptionally high. Better permeability can be attributed to higher blood flow and lymphatic circulation, which circumvents the first-pass effect and leads to increased systemic bioavailability. Both of these factors contribute to the body's ability to absorb a substance.
Neuro Segment to Dominate the Market by Indication
During the projected period, it is anticipated that the neurological segment disorders indication segment will have the largest share of the oral thin films market. The increased frequency of neurological illnesses around the world is one factor that can be attributed to the growth of this sector. In the European Union, neurological illnesses constitute the third most common reason for both disability and death in people under the age of 65. Therapies that need quick drug absorption, such as those for pain, allergies, sleep disorders, and disorders of the nervous system, are well suited for administration via oral thin films.
North America to Remain as the Global Leader
The market for oral thin film medicines will be further propelled forward in the future by factors such as the growing demand for effective drug delivery routes and the acceptance of these routes in the region. North America is expected to continue its dominance with respect to market revenues across the forecast period. In addition, a study that was published in the journal of the Migraine Research Foundation in September 2023 found that more than 39 million people in the United States suffer from migraines on an annual basis, with women being three times more likely than males to be affected by the condition. On the other hand, favorable regulations, rising levels of knowledge among the general population, and the introduction of innovative products would cause the Asia Pacific to be the geographical region with the most rapid expansion throughout the course of the projected period. The market for thin oral thin film pharmaceuticals is expected to profit further from the growing target population in the region, as well as the significant contributions made by India and China to the advancement of pharmaceutical technology.
Market to Offer Significant Opportunities to Major Players During the Forecast Period
The major companies in the market have increased investment significantly in research and development (R&D), which has been a driving force behind the market's expansion towards oral thin films. Companies of significant size that are active in the market for oral thin films are concentrating their efforts on making investments in the research and development of fast-dissolving oral thin films. This is done with the intention of bolstering their position in the market through the implementation of new platform technologies such as soluleaves, XGEL, and waferTab. Research and development contribute to the creation of novel solutions that have the potential to be more practical, productive, and economical in the delivery of drugs.
Acquestive and Cure Pharmaceutical remain the dominant players that are comparatively active and have strong market presence. Companies such as IntelGen corp are expected to witness significant opportunities during the forecast period. Sumitomo Diaippon and CL pharm are emerging players and are not very active as dominant market players. Tesa and Zim are expected to join the tier 1 market player club during the forecast period.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Oral Thin Film Drugs market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product
| |
Indication
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
