Oral Thin Film Drugs Market Analysis Global Industry, Size, Emerging Factors, Competitive Landscape, Regional Analysis and Forecast to 2023
Market Insights
According to the latest reports published by Market
Research Future Reports, the global oral thin film drugs market is all set to
expand at a CAGR of 10.50% from 2018 to 2023. Oral drug
delivery considered as an essential part of drug delivery and pharmaceutical
industry. Patients with dysphagia (which means difficulty in swallowing)
require oral administration of drugs. Thus, oral thin film medication is
established for a smooth swallow of medicines than capsules or tablets. The
fast dissolving medicines are a better alternative than capsules, syrups, and
tablets. These drugs are beneficial for patients on the go or patients with
swallowing problems. To improve patient compliance various types of vaccines
and hormones, the market players are continually making developments in this
field, which is, in turn, contributing tremendously to the global oral thin
film drugs market to rise in the years to come.
Global Oral
Thin Film Drugs Market: Drivers & Trends
The boosting factor for the growth of oral thin film
drugs market can be credited to the expanding geriatric population coupling
with the need for advanced drug delivery methods. Even, factors such as
continuous investments that are being made in research and development
(R&D) by companies and manufacturers to create easy dissolvable solutions
for other diseases is highly expected to spur the market growth over the
assessment period. With that, the introduction of oral thin film drugs in
developing countries can act as a good revenue source for the oral thin film
drugs market in the years to come.
The sharp rise in the oral thin film drugs market is
noticed in the numbers of the elderly population, where the demands of it are
likely to evoke 2018 to 2023 (forecast period). The
pharmaceutical companies and the manufacturers are actively carrying out
tremendous research and development to switch from their existing drugs to the
fast-dissolving oral thin films drugs. This factor is also highly valuing the market
in the years to come with substantial proliferation rate.
The oral thin film drugs delivery system has been
used for both systemic and local action with the help of several routes such as
oral, buccal, sublingual, ocular, and transdermal routes. Thus, the production
of oral thin films is continually upgraded to the next level with the
advancement in technology. These are being used extensively to offer enhanced
taste masking and with easy absorption. Therefore, the growing reputation of
oral thin films as an emerging, and effective drug delivery system is foreseen
to push the growth of the oral thin film market in the projected time.
On the flip side, the expensive cost of treatments
that involves oral thin films is projected to loom over the market as a serious
threat that could discourage the rise in demand for oral thin films drugs.
Other factors such as the requirement of enormous research investment and
challenges related to the development of drug could hamper the demand in the
global oral thin films market. On the other hand, however, the market is
prognosticated to exhibit stable growth with penetration rate, approval, and
development of more drugs with more advanced characteristics.
Key Players
Some prominent players in the oral thin film drugs market
include Johnson & Johnson Services, Inc. (U.S.), Pfizer Inc.
(U.S.), CURE Pharmaceutical (U.S.), Novartis AG (Switzerland), LTS Lohmann
Therapie-Systeme AG (Germany), GlaxoSmithKline Plc (U.K.) and Indivior Plc
(U.S.).
Segmental Overview
According to the research done by Market Research
Future Reports, the global oral thin film drugs market has been segmented by
product, disease indication, and distribution channel.
By the mode of product, the market is categorized
into sublingual and fast dissolving buccal film.
By the mode of disease indication, the market is
segmented into opioid dependence, migraine, schizophrenia, and nausea and
vomiting, and others.
By the mode of distribution channel in the report
includes hospital pharmacies, retail pharmacies, online drug stores, and
others.
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/oral-thin-film-drugs-market-6547
Regional Analysis
In the reports of MRFR, geographically the oral thin
film drugs market is analyzed among essential regions such as Americas, Europe,
Asia Pacific (APAC), and the Middle East & Africa.
Among these, the Americas accounts the lion's share
of the market in 2017 owing to the factors such as the
existence of well-known players in the healthcare sector, increased healthcare
expenditure of nations such as the U.S., as well as sophisticated healthcare
expenditure.
Then comes the European oral thin film drugs market,
which is also expanding at a higher CAGR over the forecast period owing to some
supportive government healthcare funds that are helping the patients to
overcome diseases. The strong economies of France, Germany, and the U.K.
generally contribute to market revenue, which will extend until 2023 as
well.
The Asia Pacific region is also touted to experience
a robust growth rate of the market owing to developing economies in India,
China, Japan, and more, changing the healthcare sector, and increasing
geriatric population.
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