Number of pages: 100 | Report Format: PDF | Published date: March 15, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global oral thin films market was valued at US$ 2.82 billion in 2022 and is expected to register a revenue CAGR of 8.5% to reach US$ 5.41 billion by 2031.
Oral Thin Films Market Fundamentals
The global oral thin films market is expected to experience considerable revenue growth during the forecast years due to increasing demand for easy-to-use drug delivery systems, the rising prevalence of chronic diseases, and the growing geriatric population. Oral thin films offer several advantages over traditional drug delivery methods, including convenience, ease of use, and improved patient compliance. They are also ideal for delivering drugs with a narrow therapeutic window or requiring precise dosing. The market for oral thin films is also expected to benefit from the increasing adoption of personalized medicine. Oral thin films can be customized to meet the specific needs of individual patients, making them an attractive option for personalized drug delivery.
North America is the largest market for oral thin films, followed by Europe and Asia-Pacific. The region is home to a large number of pharmaceutical companies that are investing in the development and commercialization of oral thin films. Additionally, the increasing demand for pain management drugs and a well-established healthcare infrastructure are driving market revenue growth in this region.
However, the high cost of developing and producing oral thin films is a major market challenge. In addition, patients and healthcare providers lack awareness and understanding regarding the benefits and applications of oral thin films.
Oral thin films are a pharmaceutical dosage form designed to dissolve rapidly in the mouth when placed on or under the tongue. Oral thin films are flexible films made from a combination of polymers, plasticizers, and other ingredients dissolved in a solvent and then cast into a thin film. They can deliver various medications, including pain relievers, allergy medications, and vitamins. They offer several advantages over traditional dosage forms, such as improved patient compliance, faster onset of action, and increased convenience.
Oral Thin Films Market Dynamics
The global prevalence of chronic diseases is rising, resulting in an escalating demand for advanced drug delivery systems. Oral thin films offer an attractive alternative to conventional dosage forms by providing a convenient and effective solution for patients with chronic conditions. Additionally, oral thin films provide benefits such as improved bioavailability, faster onset of action, and ease of use compared to traditional dosage forms, driving the adoption of oral thin films. There is a growing demand for non-invasive drug delivery systems that are more convenient than traditional methods. Oral thin films offer a non-invasive drug delivery option. Innovations in drug delivery technology are spurring revenue growth in the oral thin films market, as new and improved products are being developed to meet patient needs. The demand for pain management drugs is also driving the revenue growth of the oral thin films market.
Many pharmaceutical companies are developing oral thin films specifically for pain management, further boosting the revenue growth of oral thin films. The growing demand for personalized medicine is increasing the development of customized oral thin films tailored to patients’ needs. There is growing investment in research & development in oral thin films, with pharmaceutical companies and other stakeholders investing in developing new products and technologies, thus fueling the revenue growth of the global oral thin films market. However, the limited awareness and adoption of oral thin films are restricting the revenue growth of the market. The presence of alternate drug delivery options and the limit on drug dosages are also hindering the revenue growth of the global oral thin films market.
Oral Thin Films Market Ecosystem
The global oral thin films market is analyzed from four perspectives: product, disease indication, distribution channel, and region.
Oral Thin Films Market by Product
Based on the product, the global oral thin films market is segmented into sublingual film and fast dissolving dental/buccal film.
The sublingual film segment dominates the oral thin films market with the largest revenue share. Sublingual films offer a faster and more effective mode of medication delivery by dissolving rapidly in the mouth and allowing direct absorption into the bloodstream through the mucous membranes under the tongue, bypassing the digestive system. The sublingual films are easy to use and can be taken discreetly, making them a popular choice for patients who prefer not to swallow pills or liquids. They also do not require water or special handling, making them convenient for use on the go, increasing the demand for sublingual film. Sublingual films can be used for various applications, including pain management, allergy relief, smoking cessation, and more, thus increasing the demand for sublingual films for different diseases.
The fast-dissolving dental/buccal film segment accounts for the second-largest revenue share of the oral thin films market. Dental/buccal film allows for precise drug delivery, enabling accurate dosing and enhanced bioavailability. This makes them an appealing option for pharmaceutical companies looking to improve the efficacy of their products. Fast-dissolving dental/buccal films have emerged as a viable alternative to traditional oral medications as more patients seek non-invasive drug delivery options, propelling the segment’s revenue growth.
Oral Thin Films Market by Disease Indication
Based on the disease indication, the global oral thin films market is segmented into schizophrenia, migraine, opioid dependence, nausea & vomiting, and others.
With the highest revenue share, the schizophrenia segment dominated the oral thin films market. The rising incidence of schizophrenia patients globally increases the demand for effective treatment and delivery mechanisms. According to the WHO, about 24 million people, or 1 in every 300 people, are affected by schizophrenia globally. Schizophrenia patients often face difficulty adhering to medication due to symptoms like cognitive impairment and lack of insight. Oral thin films provide a convenient, easy-to-use option that may help enhance patient compliance. The rapid dissolution of oral thin films in the mouth facilitates swift medication delivery, making it a suitable option for individuals experiencing acute schizophrenia symptoms. Additionally, compared to injections and other invasive methods, the non-invasive nature of oral thin films makes it a more socially acceptable and less stigmatizing option for schizophrenia patients.
The migraine segment is expected to grow at a lucrative rate during the forecast period. The prevalence of migraine has been increasing globally, with more people being diagnosed with this condition. According to the National Center for Biotechnology Information, approximately 1 billion individuals are affected by migraine every year globally. Oral thin films are an effective and convenient treatment option for migraine. These films dissolve rapidly in the mouth and deliver the medication directly to the bloodstream, quickly relieving migraine symptoms. Moreover, patients suffering from migraine experience nausea during an attack, so the oral route of drug delivery can be preferable to other routes. The development of innovative technologies and advancements in drug delivery systems have introduced more effective and targeted therapies for migraine. Oral thin films are one such technology that has gained popularity due to their ease of use and effectiveness.
Oral Thin Films Market by Distribution Channel
Based on distribution channel, the global oral thin films market is segmented into hospital pharmacies, retail pharmacies, and other distribution channels.
The retail pharmacies segment accounted for the largest revenue share of the oral thin films market in 2022. Patients may easily visit retail pharmacies, and since these pharmacies have oral thin films products, it is easier for patients to buy and utilize these products. To improve patient outcomes and satisfaction, retail pharmacists counsel and advise patients on using oral thin film products. Most insurance policies cover prescription drugs purchased at retail pharmacies, making it simpler and cheaper for patients to purchase oral thin film products from these pharmacies.
Oral Thin Films Market by Region
The global oral thin films market has been geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The North America region accounted for a significant market revenue share in 2022. The growing cases of targeted diseases in North America are boosting regional revenue growth. The development of innovative drug delivery technologies, including oral thin films, has enabled the delivery of drugs in a more targeted and efficient manner. This has increased the adoption of oral thin film products in the region. Patients in North America are increasingly seeking more comfortable and patient-friendly, non-invasive drug delivery options. Oral thin films, a non-invasive drug delivery system, are gaining traction among patients, contributing to the market’s revenue growth. The governments in the region are taking initiatives to spread awareness related to the advantages of oral thin films, which are boosting regional revenue growth. Moreover, increased healthcare spending and improved access to healthcare services, with well-developed healthcare infrastructure, are fueling the revenue growth of the North America market. Key players in the North America oral thin films market are forming strategic collaborations and partnerships to enhance their product offerings and expand their market presence. These efforts are leading to market expansion in the region.
Oral Thin Films Market Competitive Landscape
The prominent players operating in the global oral thin films market are:
Oral Thin Films Market Strategic Developments
The prominent players operating in the global oral thin films market are CURE Pharmaceutical, ZIM Laboratories Limited, C.L. Pharm Co. Ltd., IntelGenx Corp., and Aquestive Therapeutics, Inc.
The sublingual film segment dominates the global oral thin films market.
North America accounts for the largest market share in terms of revenue.
The global oral thin films market is expected to reach US$ 5.41 billion by 2031.
The global oral thin films market is estimated to register a revenue growth of 8.5% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain