Growing Demand for Oral Thin Films Drives the Global Oral Thin Films Market
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| Oral Thin Films Market |
The global Oral Thin Films Market is estimated to be valued at US$ 2,450.6 Mn in 2022 and is expected to exhibit a CAGR of 8.7% over the forecast period 2022-2028, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Oral thin films are an innovative drug delivery system that dissolves in the oral cavity, allowing for rapid and convenient drug administration. They offer numerous advantages such as precise dosage, ease of administration, and improved patient compliance. The growing demand for oral thin films can be attributed to their non-invasive nature and potential applications in the treatment of various diseases, including pain management, mental health disorders, and hormonal imbalances.
B) Market Key Trends:
One key trend driving the growth of the global oral thin films market is the increasing adoption of these films for pediatric and geriatric patients. Oral thin films provide a safer and more convenient alternative to pills, injections, and syrups, especially for patients who have difficulty swallowing or are averse to traditional drug delivery methods. Moreover, the use of oral thin films in children eliminates the need for pediatric dosing adjustments and enables accurate dosage delivery. With a rising geriatric population and a growing emphasis on patient-centric care, the demand for oral thin films is expected to surge in the coming years.
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Segment Analysis:
The Oral Thin Films Market can be segmented based on the type of product and end-user. By product type, the market is dominated by the sub-segment of quick-dissolving films. Quick-dissolving films are gaining popularity due to their convenience and ease of use. These films are designed to dissolve quickly in the buccal cavity, allowing for easy administration and rapid drug absorption. They offer advantages over traditional dosage forms such as tablets or capsules, especially for patients who have difficulty swallowing or require immediate drug action.
Key Takeaways:
The global Oral Thin Films Market Insights is expected to witness high growth, exhibiting a CAGR of 8.7% over the forecast period of 2022-2028. This growth can be attributed to various factors, including the increasing prevalence of chronic diseases, advancements in drug delivery technologies, and a growing geriatric population.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the Oral Thin Films Market. This can be attributed to the presence of a well-established healthcare infrastructure, favorable reimbursement policies, and increasing awareness and acceptance of innovative drug delivery systems in the region.
Key players operating in the Oral Thin Films Market include 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. These key players are focusing on new product launches, collaborations, and partnerships to strengthen their market position and expand their product portfolios. With the increasing demand for oral thin films, these players are anticipated to witness significant growth opportunities in the market.
Overall, the Oral Thin Films Market is expected to witness substantial growth in the coming years, driven by the increasing preference for convenient dosage forms, advancements in drug delivery technologies, and the rising prevalence of chronic diseases. The market is characterized by intense competition, with key players adopting various strategies to maintain their market position and gain a competitive edge.
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