The global oral thin films market is expected to be worth USD 4.08 billion in 2023 and USD 7.27 billion by 2028, growing at a CAGR of 12.22% from 2023 to 2028.
Impact of COVID-19 on the global oral thin films market:
The COVID-19 pandemic has had both positive and negative impacts on the oral thin films market. There was an increased demand for non-invasive drug delivery options among the patients who were facing difficulty in swallowing. The oral thin films market saw growth owing to its ease of use and patient-friendliness, making it a suitable alternative to traditional forms of dosage. Due to their portability, oral thin films allowed patients to take medicines at home without the need for healthcare professionals. Therefore, the growing trend of telemedicine placed emphasis on self-administration, which also boosted the oral thin films market.
However, the COVID-19 pandemic led to disruption in the global supply chains which impacted the production and supply of oral thin films. As the focus of healthcare shifted towards containing COVID-19, the research and development activities in the oral films market were delayed, which affected the timeline for new product launches. Despite the challenges, the increasing adoption of oral thin films among patients, healthcare professionals, and pharmaceutical companies suggests a positive outlook for the market in the post-pandemic period.
MARKET DRIVERS:
The growing patient population suffering from diseases such as Parkinson’s, migraine and others is one of the major factors driving the growth of the oral thin films market. The rising number of diseases will boost the demand for oral drug delivery systems globally. More than 10 million people are affected by Parkinson’s disease globally. Migraine is one of the world’s most common neurological diseases that will affect 148 million people in the coming years globally. Therefore, the rising incidences of such diseases are said to propel the market growth. Many patients, particularly those who have difficulty swallowing pills or capsules, prefer alternative dosage forms that are easier to administer. Oral thin films offer a convenient and versatile delivery platform as it is self-administrable, and have a high dissolution rate, which leads to increased demand. Children and the elderly often face challenges in swallowing traditional solid dosage forms. Therefore, oral thin films provide a suitable alternative for these populations, promoting better medication adherence and patient outcomes.
The rapidly growing investments in research and development (R&D) by leading market players further contribute to the growth of the oral thin film market. Major companies operating in the oral thin films market are focused on investing in research and development of fast-dissolving oral thin films to strengthen their position by implementing new platform technologies. Innovations in film materials, taste-masking techniques, and controlled-release formulations have enhanced the performance, stability, and bioavailability of oral thin films, making them more attractive to pharmaceutical companies and healthcare providers.
Factors such as patient-centric factors, technological advancements, and the expanding therapeutic landscape further boost the growth rate of the market. As more patients and healthcare providers recognize the advantages of oral thin films, the market is expected to grow further in the coming years.
MARKET RESTRAINTS:
However, a few technical restrictions impede the growth and expansion of the oral thin films market. Oral thin films are still in the initial stages of incorporating water-insoluble medications. Excipients are components added to tablets and capsules that help the medication dissolve. On the other hand, oral thin films are a more efficient drug delivery method that relies on polymers to increase the drug's solubility. This could reduce the drug's solubility as compared to other formulations.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 to 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 to 2028 |
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Segments Analysed |
By Type, Disease Indication, Distribution Channel and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
This research report on global oral thin film market has been segmented and sub-segmented based on the following categories.
Global Oral Thin Films Market – By Type:
Based on type, the sublingual film segment is expected to hold the leading share of the global market in the coming years. The benefits of sublingual films such as ease of administration, faster onset of action, and avoidance of first-pass metabolism primarily drive the growth of the sublingual films segment. The growing usage of sublingual films for medications requiring rapid absorption into the bloodstream, such as pain relief, allergy treatments, and anti-nausea drugs further contribute to the segmental growth.
The fast-dissolving oral film segment is anticipated to account for a considerable share of the worldwide market during the forecast period owing to the growing popularity driven by patient convenience and improved compliance, particularly for pediatric and geriatric populations.
Global Oral Thin Films Market – By Disease Indication:
Based on disease indication, the schizophrenia segment is anticipated to occupy the major share of the global market in the coming years. Factors such as the high prevalence of schizophrenia worldwide, convenience and patient-friendly alternative to traditional dosage forms of oral thin films drive the growth of the schizophrenia segment in the global market.
The migraine segment is estimated to capture a substantial share of the global market during the forecast period owing to the high prevalence of migraine worldwide and convenience and ease of use of oral thin films for quick relief during migraine attacks.
The nausea and vomiting segment is another promising segment among all and is expected to hold a considerable share of the worldwide market in the coming years. The growing usage of oral thin films to manage chemotherapy-induced nausea and vomiting (CINV) and post-operative nausea and vomiting (PONV) drive the growth of the nausea and vomiting segment in the global market.
Global Oral Thin Films Market – By Distribution Channel:
Based on distribution channel, the retail pharmacies segment is predicted to account for the leading share of the global market during the forecast period. Retail pharmacies are population and widely accessible distribution channel for oral thin films, which is one of the major factors propelling the growth of retail pharmacies segment. The convenience of retail pharmacies for consumers to purchase over-the-counter oral thin film products further fuel the growth rate of the retail pharmacies segment.
The online pharmacies segment is expected to witness a promising growth rate in the coming years owing to the growing digitalization and e-commerce trends. The benefits of online pharmacies such as ease of ordering, home delivery and the availability of a wide range of oral thin film products further contributes to the segmental growth.
Global Oral Thin Films Market – By Region:
North America dominated the oral thin films market in 2022 and is expected to hold a significant share of the market during the forecast period. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. In the North American region, the United States accounted for the largest market share as the demand for oral thin films has been continuously increasing in the country for the treatment of rising incidences of diseases like schizophrenia, opioid addiction, migraine, Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). A major section of the population is taking schizophrenia medication therapies, primarily due to hectic lifestyles. Moreover, the presence of highly advanced healthcare infrastructure, key market players in the region, and rising healthcare expenditure are anticipated to fuel the market growth over the forecast period.
The market in the Asia-Pacific is likely to witness the highest growth in the forthcoming years owing to the increase in healthcare expenditure, the presence of local as well as global companies and an increase in demand for oral thin films in the region.
KEY MARKET PLAYERS:
The oral thin film market is a competitive market with several established players. Companies such as Aquestive Therapeutics Inc., IntelGenx Corp., CURE Pharmaceutical, ZIM Laboratories Limited, Johnson and Johnson Services, Pfizer Inc., Novartis AG, GlaxoSmithKline Plc, Indivior Plc, Sumitomo Dainippon Pharma Co. Ltd, Transition Therapeutics, Inc., NAL Pharma, Mylan NV, LIVKON Pharmaceuticals Pvt. Ltd., Seoul Pharmaceuticals, CL Pharm, Shilpa Therapeutics Pvt Ltd., Sunovion Pharmaceuticals Inc., Solvay and LTS Lohmann Therapie-Systeme AG are some of the major companies in the global oral thin films market.
RECENT HAPPENINGS IN THE MARKET:
September 2022, LTS LOHMANN Therapie-Systeme AG, based in Germany and specializing in the development of drug delivery systems such as oral thin films (OTF) acquired Tapemark Inc. for an undisclosed amount. With this acquisition, LTS leveraged Tapemark's premier CDMO with expertise in the oral thin film, unit dosage semi-solid drugs, and iontophoresis products. Tapemark Inc. is a US-based CDMO specializing in transdermal drug delivery systems and oral thin film.
Frequently Asked Questions
The global oral thin films market is expected to be valued at USD 4.08 bn in 2023.
Factors such as increasing demand for patient-friendly drug delivery systems, improved bioavailability and faster onset of action offered by oral thin films, rising prevalence of chronic diseases, and advancements in thin film technology primarily drive the growth of the oral thin films market.
North America and Europe are the regions with the largest share in the oral thin films market due to the presence of well-established pharmaceutical companies, high healthcare expenditure, and a favorable regulatory environment for drug development.
Complex regulatory pathways, high development costs, and the need for specialized manufacturing facilities are some of the major challenges to the oral thin films market. Additionally, the lack of awareness among patients and healthcare providers about oral thin films can also hinder market growth.
The COVID-19 pandemic has led to disruptions in the supply chain and manufacturing processes, affecting the production and distribution of oral thin films. However, the increased focus on patient-centric drug delivery methods during the pandemic has also provided opportunities for market growth.
ZIM Laboratories Limited, Indivior PLC, Sumitomo Dainippon Pharma Co., Ltd., and Pfizer Inc. are some of the major companies in the oral thin films market.
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