As per the research report, the size of the Asia Pacific Thin Film Drugs Market is valued at USD 3.69 billion in 2023 and is expected to reach USD 6.03 billion by 2028 at 10.32% CAGR during the forecast period 2023 to 2028.
Essential factors such as growing demand for drug delivery systems, considerable research, and development, strategic alliances between companies of new technologies and large pharmaceutical companies are anticipated to drive the APAC thin films drugs market during the forecast period. The demand increases due to various advantages such as more significant surface area, quick absorption rate, and pleasant color and taste over other conventional drug delivery systems. Thus, thin-film drugs are considered the preferred choice of patients and physicians because they are more patient-friendly and provide good quality results.
With solid business prospects in the Asia-Pacific region, major companies are focusing on expanding their product portfolio, diversifying business operations, reducing costs, satisfying users, and improving the reliability of thin-film coated drugs. As a result, lower manufacturing costs for thin-film drugs and increased research for newer polymeric thin films are predicted to increase the demand for thin-film drugs. In addition, the efficient therapeutic production of drugs over traditional medicines offers a lucrative opportunity for market growth.
Increased penetration of oral thin-film technology has led to new product launches by various market players in the APAC region. In addition, the APAC region is home to a large population in India and China. As a result, massive demand for better healthcare facilities, a high spending rate, more geriatric patients with dysphagia, and evolving pharmaceutical industries will drive the market in Asia-Pacific in the coming years.
However, the high costs associated with the treatment are holding back the market's growth. Moreover, the lack of proper healthcare facilities in certain under-developed and developing countries where thin film drugs may not be will challenge the APAC thin film drugs market in the years to come.
This research report on the APAC Thin Film Drugs Market has been segmented and sub-segmented into the following categories:
By Product:
By Disease Indication:
By Distribution Channel:
By Country:
Geographically, Chinese thin film drugs market is anticipated to reach a projected market size of US $ 0.89 billion by 2027, at a CAGR of 8.0% during the analysis period of 2022 to 2027. This region will have dominant market growth due to various factors such as higher penetration of thin films drugs, product availability, funds for research and development, and a large number of manufacturing units compared to other APAC regions; these factors will drive the market in China. In addition, the efficient therapeutic production of drugs over traditional drugs offers a lucrative opportunity for market growth.
Among other notable geographic markets include Japan and Singapore, with each forecast increasing by 7.1% and 6.1% respectively over the period 2022 - 2027. Even regional markets in Taiwan, Australia, and India will grow with the growing rate of chronic diseases, improving the pharmaceutical sector, and evolution of medical technologies. The increased prevalence of neurological disorders is anticipated to stimulate the APAC thin film drugs during the prognostic period.
According to a study published by the National Center for Biotechnology Information, it is reported that in India, the prevalence of neurological disorders was approximately 2,400 per 100,000 population. The hospital industry in India is projected to reach about $ 132.85 billion from USD 61,795 million during 2020-2025, increasing at a compound annual rate of 16-17%. The Indian government aims to improve public health spending to 2.5% of the GDP by 2025.
Due to all the factors above, India thin film drugs market is expected to account for a significant share of the APAC thin films drugs market during the analysis period. In addition, the major international companies invest in this region, making huge investments for market growth and development.
KEY MARKET PLAYERS:
Top companies leading in the APAC Thin Film Drugs Market profiled in the report are Pfizer Inc., Novartis AG, Wolters Kluwer, Solvay, Allergan plc., Sumitomo Dainippon Pharma Co. Ltd., Indivior Plc., MonoSol Rx, IntelGenx Corp., ZIM Laboratories Limited, and IntelGenx Corp.,
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