According to the report, the global oral film market was valued at USD 2.6 billion in 2019.The compound annual growth rate from 2020 to 2030 is expected to be around 9%.Oral film drugs are a promising drug delivery form, which deliver drugs by adhering to the oral mucosa.Rising demand for thin film drug delivery systems, substantial R&D, and strategic alliances between new technology owners and large pharmaceutical companies are the major factors expected to drive the global oral thin film market over the forecast period.North America accounted for a major share of the global oral film market in 2019 owing to higher penetration of oral film technology and increased focus on new product launches by industry players in the region.
The oral film market in Europe is expected to grow at a high CAGR of 11.2% from 2020 to 2030 owing to increasing number of elderly patients suffering from dysphagia and increasing introduction of oral films in the region.
Demand for thin-film drug delivery systems is on the rise due to advantages such as larger surface area, precise drug delivery, and pleasing color and flavor than traditional drug delivery systems.Thin-film drugs are reported to be the first choice for patients and medical practitioners because they are more patient-friendly and provide high-quality results.Oral film medications provide high patient compliance and are easy to store and transport.Furthermore, these provide precise and accurate dosing with the desired effective results.Therefore, the market for thin film drug delivery systems is quite attractive.High acceptance and significant advantages further drive the global oral film market.
In terms of product, the global oral film market has been segmented into sublingual film, instant oral film, and buccal film.The sublingual film segment dominated the global oral film market in 2019 and this trend is expected to continue over the forecast period.Significant research activities, robust product pipeline, and high market adoption of sublingual films are expected to drive the segment over the forecast period.
In terms of indications, the global oral film market has been segmented into pain management, neurological disorders, nausea and vomiting, opioid dependence, and others.The neurological disease segment accounted for a major share of the global oral film market in 2019.Rising prevalence of neurological disorders is expected to drive the segment over the forecast period.The average prevalence of neurological diseases in India is about 2,394 per 100,000 people, according to data published by the National Center for Biotechnology Information.
Based on distribution channel, the global oral film market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.The retail pharmacy segment dominated 2019 owing to higher end-user preference for retail pharmacies, easy availability of various products, and increasing number of retail pharmacies in developing countries.
In terms of regions, the global oral film market has been segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa.North America is expected to account for a major share of the global oral film market during the forecast period.Higher penetration of oral films, product availability, and presence of a large number of suppliers are the major factors driving the market in this region compared to other regions.The Asia Pacific market is expected to expand at a high CAGR in the near future owing to the presence of local and global players and increasing demand for oral films in the region.The European oral film market is likely to expand rapidly in the near future.Japan and China are expected to be lucrative markets for oral films during the forecast period.The presence of a large geriatric patient population with dysphagia in these countries coupled with increasing healthcare spending is expected to drive the market in Asia Pacific over the next few years.
The key players operating in the global oral film market are ZIM Laboratories Limited, Indivior plc, Aquestive Therapeutics, Inc., LIVKON Pharmaceuticals pvt.Ltd, Shilpa Therapeutics Pvt.Ltd, Sunovion Pharmaceuticals, Inc., NAL Pharma, Cure Pharmaceutical, IntelGenx Corp., Dr. Reddy's Laboratories, Kyu Pharmaceutical Co Ltd, Seoul PharmaCo and CL Pharm.These companies engage in research and development to develop new products to expand product offerings and custo.
Post time: May-16-2022