The market for oral thin film drugs is anticipated to reach $6274.7 million by 2030, registering a CAGR of 9.21% during the forecast period of 2024 and 2032. Oral thin films are drug delivery dosage devices composed of a mono polymeric thin film that is deposited in the mouth for the rapid release of an active pharmaceutical ingredient (API) when placed on the tongue. The absorbed therapeutic compounds are subsequently distributed directly into the bloodstream. The ease with which oral thin film (OTF) drugs dissolve in the body contributes to their widespread use. The increasing population of senior individuals in society has increased the demand for novel techniques for the delivery of medications to treat and prevent chronic diseases such as diabetes. The expansion of the market for oral thin film drugs is expected to be aided by an increase in the amount of money companies invest in research and development (R&D) to find soluble solutions for a variety of diseases. When offered in less developed countries, OTC drugs have the potential to raise market revenue.
The growing prevalence of target diseases and the advantages of utilizing thin films are driving growth in the market for OTFs. For instance, the Parkinson's Foundation anticipated in 2021 that more than 10.0 million people worldwide were living with Parkinson's disease. According to a second conclusion from the same poll, there will be around one million Americans living with Parkinson's disease in 2021. In addition, the likelihood of developing Parkinson's disease increases with age; as a result, the expanding older population around the world is expected to have a positive effect on the market. In addition, according to a report issued by the Parkinson's Foundation in 2021, there will be an extra 1,2 million people with Parkinson's disease by 2030. This forecast is based on present tendencies. Oral thins are regarded as one of the most effective treatments for Parkinson's disease. As a result, the increased prevalence of Parkinson's disease is anticipated to increase consumer demand for oral thins, hence driving the market growth.
The most modern and technologically advanced form of oral solid dosage is fast-dissolving oral film. It gives enhanced comfort and adaptability. Oral films that dissolve rapidly enhance the efficacy of active pharmaceutical ingredients (APIs) since they do not require chewing to dissolve in the oral cavity within minutes of contact with saliva. Moreover, oral films do not require the use of water during delivery. Because of the high blood flow and the oral mucosa's ability to absorb chemicals, these drugs are swiftly absorbed and exert an immediate effect on the body. As a result of these advantages, it is projected that the business of oral thin films will expand during the next few years.
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The opportunity for the OTF market lies in the worldwide sector's expansion, which has been fueled by a high degree of tolerance and tremendous benefits. The expansion of the oral thin film market has been fueled in part by the increased research and development spending of industry leaders (R&D). In order to enhance their positions in the oral thin film market, market leaders are focusing on the development of rapidly dissolving oral thin films by employing novel platform technologies such as soluleaves, XGEL, and waferTab.
According to the most current findings of a comprehensive analysis of the market for oral thin films, the sublingual film product sector held a significant share in 2023. The sublingual mucosa is highly vascularized, which, in conjunction with the membrane's thin nature, results in a high level of membrane permeability. Sublingual mucosal bioavailability is particularly high. Blood flow and lymphatic circulation increase, which circumvents the first-pass effect and increases systemic bioavailability. Each of these factors contributes to the body's absorption capacity.
Over the forecast period, it is estimated that the indication segment for neurological sector disorders will hold the greatest market share for oral thin films. One element that can be ascribed to the expansion of this industry is the worldwide increase in neurological diseases. In the European Union, neurological disorders are the third leading cause of disability and mortality among people under the age of 65. Treatments that need rapid drug absorption, such as those for pain, allergies, sleep problems, and nervous system disorders, are well-suited for oral thin film delivery.
The growth of the market for oral thin film medications will be fueled by factors such as the rising demand for effective drug delivery channels and the region's acceptance of these routes. In terms of market revenue, North America is likely to maintain its dominance throughout the projection period. However, according to a study published in the journal of the Migraine Research Foundation in September 2023, more than 39 million Americans suffer from headaches annually, with women being three times more likely than men to be affected. On the other hand, favorable laws, rising levels of knowledge among the general public, and the launch of innovative products would allow Asia Pacific to be the region with the fastest growth during the predicted time. The rising target population in the region, as well as India and China's major contributions to the progress of pharmaceutical technology, are anticipated to have a positive impact on the market for thin oral thin film drugs.
Significantly increasing investments in research and development (R&D) by the market's leading firms have propelled the market's expansion towards oral thin films. Significantly sized companies that are participating in the oral thin film market are focusing their efforts on investing in the research and development of fast-dissolving oral thin films. By implementing new platform technologies such as soluleaves, XGEL, and waferTab, the company hopes to strengthen its position in the marketplace. Research and development contribute to the discovery of novel medication delivery technologies that have the potential to be more efficient, productive, and cost-effective. Acquestive and Cure Pharmaceutical continues to be the dominating, relatively active, and highly present market leaders. Throughout the projected period, companies such as IntelGen corp are anticipated to encounter considerable prospects and emerge as prospective competitors. Sumitomo Diaippon and CL pharm are new market entrants that are not as active as market leaders. Throughout the projected period, Tesa and Zim are anticipated to become market leaders.
