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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Oral thin films are a new class of drug delivery system that provides faster onset of action than conventional oral tablets. They dissolve rapidly in the mouth without water and can deliver drugs through buccal, sublingual or gastric absorption. This allows enhanced bioavailability and ease of administration for patients who have difficulty in swallowing tablets. Oral thin films can accommodate both hydrophilic and hydrophobic drug molecules and are widely used for delivery of anti-emetics, CNS stimulants, migraine treatments and other applications.
Market key trends:
One of the major trends in the Oral Thin Films market is the development of abuse-deterrent formulations. Manufacturers are focusing on incorporating tamper-resistant technologies to prevent intentional misuse and abuse of opioids and other controlled substances. Another key trend is the increasing adoption of plant-based polymers for manufacturing oral thin films. Plant-based polymers are beneficial as they offer advantages like biodegradability and compatibility with various active pharmaceutical ingredients. Advancements in printing technologies are also allowing accurate drug layering and high-speed production of oral thin films.
Porter’s Analysis
Threat of new entrants: Low capital requirement and intellectual property protection make it easy for new players to enter the market.
Bargaining power of buyers: Buyers have high bargaining power due to availability of substitutes and undifferentiated products.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and access to raw materials.
Threat of new substitutes: Threat of substitutes is low as oral thin films offer advantages over traditional oral forms.
Competitive rivalry: High as the market is fragmented with many regional and international players operating.
Key Takeaways
Global Oral Thin Films Market Demand is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period 2023 to 2030, due to increasing preference for alternate drug delivery systems.
Regional analysis: North America dominated the market and is expected to continue its dominance over the forecast period. This is attributed to rising consumer awareness about oral thin films and presence of major players. Asia Pacific is expected to be the fastest growing market due to increasing healthcare expenditure and focus on alternate drug delivery systems.
Key players: 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. C L Pharm and Cure Pharmaceutical are prominent players offering an extensive product portfolio of oral thin films for various therapeutic applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
