Overview and Scope
An oral thin film (OTF) is a very thin polymeric film that is applied in the mouth. The purpose of oral thin film (OTF) is to deliver therapeutic substances into the oral cavity or the stomach tract, where they are absorbed and transported directly to the circulatory system.
Sizing and Forecast
The oral thin films market size has grown rapidly in recent years. It will grow from $4.07 billion in 2023 to $4.6 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to patient compliance, pediatric and geriatric patients, rapid drug delivery, chronic diseases, over-the-counter (otc) medications.
The oral thin films market size is expected to see rapid growth in the next few years. It will grow to $7.65 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to specialty pharmaceuticals, precision medicine, mental health medications, oral vaccines, telemedicine services. Major trends in the forecast period include drug delivery technologies, remote care, bioavailability enhancement, travel and on-the-go usage, allergen-free formulations.
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Segmentation & Regional Insights
The oral thin films market covered in this report is segmented –
1) By Type: Sublingual Film, Fast Dissolving Dental/Buccal Film
2) By Disease Indication: Schizophrenia, Migraine, Opioid Dependence, Nausea & Vomiting, Other Disease Indication
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
North America was the largest region in the oral thin film market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the oral thin films market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Rising demand for thin film drug delivery systems is propelling the growth of the oral thin film market. Thin films have been identified as a potential alternative to standard dosage forms. It is a convenient, self-administrable, and fast-dissolving dosage form for the delivery of medications, which makes it a versatile drug delivery platform. Thin films are taken orally and do not require water to be swallowed to absorb a drug. OTF is more patient-friendly due to its rapid dissolution rate. Due to these reasons, the demand for thin-film drug delivery systems is increasing, which is bringing more demand for oral thin films as well. For instance, in January 2021, a Turkish Journal of Pharmaceutical Sciences report shows that the global thin-film pharmaceutical products market is expected to increase from $7 billion in 2015 to over $15 billion by the end of 2024. It estimates that there will be an increase of 117% in 10 years. Thus, increasing demand for thin film drug delivery systems is driving the growth of the oral thin film market.
Key Industry Players
Major companies operating in the oral thin films market include ZIM Laboratories Limited, NAL Pharma, Cure Pharmaceutical Holding Corp., IntelGenx Corp., Kyu Kyu Pharmaceutical Co. Ltd., Sunovion Pharmaceuticals Inc., Seoul Pharma Co. Ltd., Aquestive Therapeutics Inc., Shilpa Therapeutics Pvt. Ltd., Mylan Inc., LIVKON Pharmaceuticals Pvt. Ltd., Panacea Biotec Ltd., Adare Pharmaceuticals Inc., APR Applied Pharma Research SA, BioDelivery Sciences International Inc., Sumitomo Dainippon Pharma Co. Ltd., Indivior PLC, LTS Lohmann Therapie-Systeme AG, Tesa Labtec GmbH, Pfizer Inc., Sanofi S.A., Merck & Co. Inc., Novartis International AG, Roche Holding AG, Johnson & Johnson, GlaxoSmithKline plc, Bayer AG, Eli Lilly and Company, AbbVie Inc., Bristol-Myers Squibb Company, Novo Nordisk A/S, AstraZeneca plc
The oral thin films market report table of contents includes:
1. Executive Summary
2. Oral Thin Films Market Characteristics
3. Oral Thin Films Market Trends And Strategies
4. Oral Thin Films Market – Macro Economic Scenario
5. Global Oral Thin Films Market Size and Growth
…………….
31. Global Oral Thin Films Market Competitive Benchmarking
32. Global Oral Thin Films Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Oral Thin Films Market
34. Oral Thin Films Market Future Outlook and Potential Analysis
35. Appendix
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