Oral Thin Film Drugs Market to Exhibit Significant Opportunity Assessment During the Forecast to 2027

Orally Dissolvable Thin Film (ODF) or sublingual/ wafers is a drug delivery mechanism, developed with paper-thin polymer films that carry pharmaceutical agents. Besides, ease in administering, ODF drugs deliver multiple benefits, such as they do not require water or swallowing, and they dissolve quickly in the oral cavity with the active ingredient rapidly absorbed & diffused directly in the bloodstream.

The absorbed active ingredient can bypass the liver’s first-pass effect, improving therapeutic outcomes & efficacy through enhanced bioavailability. ODF drugs facilitate excellent patient compliance and are suitable for a wide range of patients, including geriatric & pediatric patients who experience difficulty swallowing. Resultantly, the ODF drugs are gaining immense popularity worldwide.

The global oral thin film drugs market is proliferating, mainly due to the increasing popularity of these wafers for their effective administering of medicines. According to a leading research firm -Market Research Future (MRFR), the global oral thin film drugs market is estimated to grow significantly by 2023, registering a CAGR of 10.50% throughout the forecast period (2018-2023).

Get Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/6547 

The growth of personalized medicine and dietary supplements market led by the rising geriatric populace and increasing prevalence of various diseases is are some of the driving forces behind the growth of the market. Also, the expanding geriatric population and their need for advanced drug delivery methods are commutatively supporting market growth.

The burgeoning pharmaceutical industry and rising investments by pharma companies in R&D to develop easily dissolvable solutions are expected to spur market growth in the future. The introduction of OTF drugs in developing countries can act as a good revenue source for the OTF drugs market. Tremendous advancements in medical technologies and drug manufacturing techniques are boosting the growth of the market.

On the other hand, high costs and complexities associated with the production of ODF drugs are projected to pose challenges to the growth of the market. Also, unclear regulatory policies in some of the countries might act as significant headwinds for the growth of the global oral thin film drugs market.

Nevertheless, multiplying numbers of pharma companies and their investments to foster the production rate of ODF drugs would support the growth of the market by bringing the production cost down.

Major Players:

Players leading the global oral thin film drugs market include Johnson & Johnson Services, Inc. (US), Pfizer Inc. (US), CURE Pharmaceutical (US), Novartis AG (Switzerland), LTS Lohmann Therapie-Systeme AG (Germany), GlaxoSmithKline Plc (UK), and Indivior Plc (US), among others.

Segmentation:

The oral thin film drugs market can be segmented by product, disease indication, and distribution channel.

  • By form, the market is segmented into fast dissolving buccal film and sublingual. The fast dissolving film segment accounted for 58% share in the oral thin film drugs market in 2017. This can be credited to the potential of OTF drugs in dissolving rapidly and its efficacy and safety. It can enjoy good dividends at a 11.31% CAGR over the forecast period. On the other hand, the sublingual segment can enjoy a 9.34% CAGR to touch a valuation of USD 1,622.3 million by 2023.
  • By disease indication, the market is segmented into migraine, schizophrenia, opioid dependence, and nausea and vomiting, and others. Among these, the schizophrenia segment accounted for 36% market share in 2017. It can generate market demand at a 10.34% CAGR over the forecast period. On the flip side, the migraine segment can grow at a robust pace owing to high prevalence of migraine attacks.
  • By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, online drug stores, and others. The retail pharmacies segment accounted for 46.9% market share in 2017.  This can be attributed to the increasing patient population and their respective treatment at hospitals. In addition, the low cost of drugs at these pharmacies compared to hospital pharmacies can thrust the segment valuation to USD 1,930.9 million by 2023. But the online drug stores segment is expected to generate returns at a 11.66% CAGR over the forecast period.

Geographical Analysis

North America leads the global oral thin film drugs market, creating USD 1,608.2 MN market valuation. The significant market share of the region attributes to the burgeoning precision medicines market and the superior infrastructure & ability to implement new developments in the system quickly. North American oral thin film drugs market in the region is expected to reach USD 2,676 MN by 2023, registering a CAGR of 10.72% from 2018-2023.

Get Access Full Report @ https://www.marketresearchfuture.com/reports/oral-thin-film-drugs-market-6547 

The oral thin film drugs market in Europe stands the second-largest position globally. Huge investments in research and development give the regional market a much-desired kickstart. Germany, heading with its advanced technology, contributes to the growth of the regional market hugely. Furthermore, the UK and France, with the increasing investment in personalized medicines and pharmaceutical industry, drive the oral thin film drugs market in the region, at a large scale. The oral thin film drugs market in Europe is estimated to reach USD 769.9 MN, with a CAGR of over 9.44% during the review period.

The Asia Pacific oral thin film drugs market is emerging as a promising market, globally led by the rapidly improving economic conditions in the region. India and China, backed by their revamping healthcare sectors and burgeoning pharmaceutical industries, contribute to the regional market, majorly. The APAC oral thin film drugs market is projected to grow further at a CAGR of 11.24% during the forecast period.

Comments are closed