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Thin Film Drugs Market Global Sales Are Expected To Reach US$ 43.18 Billion by 2030, as stated by insightSLICE

insightSLICE
·6 min read

PUNE, India , Feb. 25, 2021 (GLOBE NEWSWIRE) -- The Global Thin Film Drugs Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.

The global thin film drugs market size was estimated to be US$ 16.56 billion in 2019 and expected to reach US$ 43.18 billion by 2030 at a CAGR of 9.2%. The technique of thin-film drug delivery makes use of a thin film that dissolves quickly and easily, or an oral drug strip, which gets wet by the saliva in the mouth and swiftly hydrates and adheres to the site of application, a system that is in place to administer drugs via absorption directly in the mouth (buccally or sublingually) and/or through the small intestines (enterically). A thin film is created using hydrophilic polymers, which rapidly dissolves on the tongue or in the buccal cavity, resulting in delivering the drug to the systemic circulation in the body via dissolution when contact is made with the liquid.

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Thin Film Drugs Market Overview:

While the general public might just be familiar with the breath-freshening strips found at grocery stores, many are unaware that similar “thin films” are available, which have an application in the pharmaceutical industry. Referred to as oral thin films (OTFs), they have proven very effective for those patients who have trouble swallowing, because drugs can be delivered without the traditional techniques that require the patient to chew or swallow. Such patients include children, those experiencing nausea, and the growing geriatric community, which together make up about 37 percent of the total worldly population. OTFs are emerging to be a promising new system for the delivery of drugs which can be attributed to their patient-friendly characteristics, precise and flexible dosing, and simple process of manufacturing. While the medical industry is still in the process of optimizing OTF development with the right techniques and expertise, the need for this system is apparent.

Benefits of this system that act as the driving factors for the Thin Film Drugs Market:

This system of drug delivery is an attractive option for patients belonging to varied age demographics, because they don’t need to chew, swallow or drink water in order to ingest the drug. The thin film covers a relatively large surface area, which allows for faster dissolution and disintegration. The thin strips can also be given a more likeable flavor and a more attractive color, for easy administration in the case of children. Because the films can be manipulated for precision dosing, this is useful for several cases, especially in the case of children who often need smaller doses, adults who need partial doses, and in the development of drugs where the production cannot make allowance for larger volume of doses.

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As compared to tablets and capsules, the manufacturing process of OTFs is much simpler and faster because of fewer steps involved in the overall process. This is owing to the fact that these films can be developed with powderless, and even aqueous-based processes, which do not use solvents, which ultimately, allows for continuous processing. Additionally, OTFs are a great alternative to the patent-expiring drugs (product line extensions), as the approval of a new oral film would allow these drugs to claim exclusivity in the drug administration market for another three years. Through the continuous activities of research and development, that take place in the avenue of medicine, new applications for this drug delivery system continue to arise. It was previously thought that OTFs could not carry drugs that are water-insoluble. However, recent research in this field has shown that BCS (Biopharmaceutical Classification System) Class II/IV drugs can actually be incorporated into films that are of the nature of disintegrating orally.

Related report:

Global Intrauterine Devices Market: https://www.insightslice.com/intrauterine-devices-market

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Global Herbal Medicine Market: https://www.insightslice.com/herbal-medicine-market

In addition to the above mentioned advantages of this system, some others include, its cost effective nature, the efforts of scientists towards improving the therapeutic outputs of these drugs, the rapid advancements in related technology, funding from a variety of different organizations and governments, have all proven to act in favor of the Thin Film Drugs Market.

The market segments that lead in the Thin Film Drugs Market:

The global oral thin film therapeutics segment dominates the Drug Type segment of the Thin Film Drugs Market. This can be attributed to the higher revenue sales generated by these types of drugs in the market by key players. This market segment is expected to witness a considerable growth during the forecast period, owing to the increasing number of pipeline products under development, which should be launched in the upcoming years. Innovations taking place in the buccal cavity thin films drugs are also anticipated to boost the thin film drugs market growth. The transdermal thin film drugs segment generated a lower share as compared to its earlier mentioned counterpart. However, upcoming therapies focusing on transdermal thin film delivery is projected to boost the product demand in the coming period.

By the segment of Disease Indication Analysis, the market of Schizophrenia has garnered the maximum market share.

Based on this particular segment, the market is segmented into schizophrenia, migraine, opioid dependence, and others. The market is currently dominated by the schizophrenia and migraine market segments. The drug delivery El is highly adopted in patients suffering from schizophrenia owing to underlying factors such as the difficulty in swallowing tablets and liquids, fast absorption of the drug into the mucosal membrane, and ease of administration.

Based on the categorization of distribution channels, the market of thin film drugs was segmented into retail pharmacies, hospital pharmacies, and others. The retail pharmacy segment dominates this particular market segment in terms of revenue. The factors that have given rise to the dominance of this market segment are the higher availability of drug products through retail channels. The majority of products under the thin film drug delivery model is generic molecules and is hence widely available in the retail pharmacy.

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The major players in the Thin Film Drugs Market include GSK, LTS, J&J, Indivior, Pfizer, Sanofi, Church & Dwight, tesa Labtec, Tapemark, Prestige Bands, Sun Pharma, MonoSol, BioDelivery, Arx, ZIM, NAL Pharma, AdhexPharma, Aavishkar, IntelGenx Corp, APR.

About us: insightSLICE is a market intelligence and strategy consulting company. The company provides bespoke and off the shelf market research studies. The prime focus of the company is on strategy consulting to provide end-to-end solutions. For more details please contact our research and consulting team at info@insightslice.com.

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