by Oral thin films are solid, thin film formulations of active pharmaceutical ingredients that dissolve or disintegrate rapidly in the oral cavity without water. Oral thin films are easy to administer, have better patient compliance, and provide rapid drug absorption via buccal or sublingual routes as compared to traditional tablets and capsules. Rising chronic disease burden, increasing geriatric population, growing need for non-invasive drug delivery methods especially for pediatric and geriatric patients and advantages of oral thin films over traditional dosage forms are some of the key factors driving the growth of oral thin films market.
The global oral thin films market is estimated to be valued at US$ 2895.55 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing preference for alternative drug delivery systems and advantages of oral thin films over traditional dosage forms are the key drivers fueling the growth of global oral thin films market. Oral thin films provide a lot of advantages over conventional oral dosage forms such as tablets and capsules. They have better sensory characteristics like texture, taste, flavor etc. which increase patient compliance especially for pediatric and geriatric patients who have difficulty in swallowing conventional tablets and capsules. Oral thin films also provide rapid dissolution in the oral cavity without water and thereby provide rapid absorption and onset of action as compared to conventional formulations. This makes them more suitable for applications demanding instant drug delivery in emergency conditions. Additionally, oral thin films have potential applications for clinically relevant conditions like anaphylaxis, migraine attacks, cough & cold, nausea etc. where rapid action of the drug is desired.
Segment Analysis
The global oral thin films market is dominated by the drug abuse deterrent sub segment which holds around 35% share of the overall market. This is because oral thin films play a crucial role in drug abuse as they dissolve quickly in the oral cavity without being crushed or chewed, thus deterring drug abuse.
PEST Analysis
Political: The oral thin films market is moderately regulated by governments across the world. Various governments provide funding and grants for R&D in novel drug delivery solutions like oral thin films.
Economic: The growth of the oral thin films market is driven by the rising disposable incomes and healthcare spending globally. The demand is expected to surge further with increasing awareness about the benefits of oral thin films.
Social: Changing lifestyles and busy schedules have increased the demand for convenient dosage forms like oral thin films which eliminate the need for water. The stigma around certain medical conditions is also reducing, boosting the adoption of oral thin films.
Technological: Continuous innovations are taking place in the manufacturing processes of oral thin films. Technologies allowing printing of multiple drugs and formulations on a single oral thin film are gaining popularity.
Key Takeaways
The Global Oral Thin Films Market Demand is expected to witness high growth at a CAGR of 5.1% during the forecast period of 2023 to 2030. The global oral thin films market is estimated to be valued at US$ 2895.55 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030.
Regionally, North America dominates with over 40% share owing to early adoption of innovative drug delivery formats and strong healthcare infrastructure. The Asia Pacific region is growing at the fastest pace due to rising medical expenditures and increasing chronic disease prevalence in countries like India and China.
Key players operating in the oral thin films market are ANDRITZ (Austria), Thyssenkrupp (Germany), GEA Group Aktiengesellschaft (India), Metso (Finland), FLSmidth (Denmark), Buhler Holding AG (Switzerland), Anivi (Spain), Carrier Vibrating Equipment, Inc. (U.S.), Mitchell Dryers Ltd (U.K.), Yamato Sanko Co., Ltd. (Japan), Kerone Engineering Solutions (India), Ventilex.(Netherlands), FEECO International, Inc (U.S.), GEM MACHINERY & ALLIED INDUSTRIES (India), Glatt GmbH, Binzen (Germany), Cadworks India Pvt. Ltd.(India) ,FEECO International, Inc. (U.S.).
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
