ALBANY, New York, April 25, 2018 /PRNewswire/ --
Transparency Market Research (TMR) has published a new report titled, "Oral Thin Films Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026". According to the report, the global oral thin films market was valued at US$ 2,100.0 Mn in 2017 and is anticipated to expand at a CAGR of 13.0% during the forecast period from 2018 to 2026. The global market is driven by development of new products and technological advancements in the manufacturing process of oral thin films. The oral thin films market in North America is expected to expand at a high CAGR of 13.0% from 2018 to 2026. This is attributed to unmet market needs, and high adoption rate of oral thin films in the region.
Emerging and Novel Platform for Effective Drug Delivery
Oral thin films are solid dosage forms for fast or sustained release in the oral cavity. The U.S. FDA describes it as a flexible polymeric strip that contains active pharmaceutical ingredients (APIs), which are intended to be placed on the tongue for fast dissolution in the saliva before swallowing for delivery in the gastrointestinal tract. The oral thin film development on pharmaceuticals dosage form is considered as part of novel drug delivery systems. Usage of polymeric film in the manufacture of oral thin films presents advantages such as improved systemic absorption and taste masking. Gastrointestinal degradation of acid sensitive drugs can be prevented through the usage of oral thin films, which keep the drug unbroken till it dissolves. Oral thin film is an emerging and novel platform for effective drug delivery.
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Shift from Oral Tablets to Oral Thin Films to Drive Demand
In terms of product, the global oral thin films market has been classified into sublingual films and fast dissolving dental/buccal films. The most commonly used technologies in the manufacture of oral thin film drugs are hot melt extrusion, solvent casting, and printing technologies such as flexographic printing and inkjet printing technology. The sublingual films segment recorded high market adoption due to ease of application and high effectiveness. Furthermore, developed economies such as the U.S. and countries in Europe recorded substantial sales of sublingual films. Oral thin films achieve the preferred therapeutic results. Therefore, these have gained attention in the market as a potential treatment option. Demand for oral thin film is rising across the globe. Presently, 10 products are available in the market and awareness about oral thin films is high among the population due to exclusive benefits. Oral thin films are easy to take as compared to oral tablet, do not need water for administration, present a good taste, and improve medication safety by reducing side effects. Hence, these are suitable for patients with swallowing difficulties, such as the elderly, children, and patients with neuron motor diseases.
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Rise in Prevalence of Diseases such as Schizophrenia, Migraine, and Opioid Dependence to Augment the Market
Based on disease indication, the global oral thin films market has been divided into schizophrenia, opioid dependence, migraine, nausea & vomiting, and others. The schizophrenia segment dominated the global market in 2017. The trend is anticipated to continue during the forecast period. Opioid dependence is likely to be the second largest segment in terms of market share during the forecast period. The segment is expected to account for 25.0% share of the market by 2025. Growth of the segment is attributed to increase in number of people suffering from opioid dependence.
North America will dominate the Global Market: High Acceptance of Oral Thin Films in the U.S.
Geographically, the global oral thin films market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to account for major share of the market owing to presence of key players in the region and increase in research and development activities and new drug approvals. Shift in trend from oral tablets to oral thin films is expected to drive the market in North America. Moreover, the U.S. is home to major pharmaceutical companies. The high acceptance rate of oral thin films in U.S. market as compared to Europe oral thin films market is attributed to early introduction of technology in U.S. and both prescribed and over the counter forms of oral thin films were first launched in U.S.
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Increase in Competition among Existing Players and Launch of New Products to Drive the Market
Key players covered in this report are ZIM Laboratories Limited, Indivior plc, Aquestive Therapeutics, Inc., Sumitomo Dainippon Pharma Co., Ltd., IntelGenx Corp., Pfizer, Inc., Novartis AG, Allergan plc, NAL Pharma, and Solvay. Companies operating in the global oral thin films market focus on strategic collaborations to develop new products in emerging markets such as Asia Pacific and Latin America.
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