by 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 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Oral thin films are thin sheet or film-like polymer strips containing active pharmaceutical ingredients (APIs) that can be applied over the tongue, buccal cavity or other mucosal tissue for their absorption and delivery in body. These films are easily dissolved/disintegrated in mouth without water and provide quick onset of action, improved patient compliance due to convenient usage.
Market key trends:
Rising prevalence of diseases such as nausea, migraine, cough & cold along with growth in demand for orally disintegrating drug delivery systems are major factors driving growth of oral thin films market. In addition, thin film drug delivery provides rapid absorption of the drug molecules and bypass first pass effect providing improved bioavailability. Moreover, oral thin films are highly preferred over conventional tablets as it eliminates risk of choking or difficulty in swallowing. Also, self-administration of oral films improves patient compliance in comparison to other dosage forms.
SWOT Analysis
Strength: Oral thin films provide rapid drug absorption and bypass first-pass metabolism providing quick onset of action. They are easy to administer and have high patient compliance compared to conventional oral drugs.
Weakness: Development of oral thin films require specialized manufacturing facilities and processes which increases production costs. Drug loading capacity is also relatively low in oral thin films.
Opportunity: Increasing patient preference for convenient drug delivery formats and rising geriatric population susceptible to dysphagia provides significant growth opportunities. Growing adoption of digital printing technologies for personalized medicine further expands the market.
Threats: Limited shelf life and stability compared to conventional dosage forms. Stringent regulatory pathways for approval of new drug-film combinations acts as a barrier.
Key Takeaways
Global Oral Thin Films Market Demand is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing demand for convenient dosage formats and rising geriatric population susceptible to dysphagia.
Regional analysis: North America is expected to dominate the global oral thin films market owing to increasing adoption of advanced drug delivery systems and presence of major players. However, Asia Pacific is anticipated to exhibit fastest growth due to rising healthcare spending, large patient pool and growing generic markets in the region.
Key players operating in the oral thin films market are 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. Leading players are focusing on new product launches, expanding manufacturing facilities and diversifying their product portfolios through acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
