The rising prevalence of chronic diseases among patients such as diabetes and other major driving factors is expected to favor the rise in the global oral thin films market
Reports and Insights has published a new report titled, “Oral Thin Films Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Oral Thin Films Market, By Product (Sublingual Film, Fast Dissolving Oral Film, Dental/Buccal Film), By Type (Strips, Tablets), By Patient Type (Geriatric, Pediatric), By Disease Indication (Schizophrenia, Migraine, Opioid Dependence, Nausea & Vomiting, Others), By DIstribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global oral thin films market in 2020 is estimated for more than US$ xx Bn and expected to reach a value of US$ xx Bn by 2028 with a significant CAGR of xx%.
Whilst the extensive range of public might be acquainted with the breath-freshening strips typically found at convenience stores, a great deal of people are unfamiliar that resembling “thin films” also have an application in the pharmaceutical industry. Presented as oral thin films (OTFs), they have been certified to be extremely beneficial for patients who have difficulty swallowing, as drugs can be delivered without the need to swallow or chew. Such patient types comprise children as well as growing geriatric population, those experiencing nausea – entirely 37 percent of the population worldwide. While the industry is still a work in progress of optimizing OTF development with the correct expertise and methods, the necessity for this system is evident.
The oral thin films (OTFs) is an innovative way discovered by pharmaceutical scientists and researchers to deliver drugs to the pediatric as well as geriatric patients where the thin films are either dissolved or absorbed in the mouth.
An oral thin film (OTF) can be understood as an extremely thin film consisting of a mono or multi-layer polymeric matrix that is consumed through the mouth. Owing to the swift and smooth dissolution of OTF drugs, it has gained immense popularity all across the global markets. Attributing to which, the global oral thin films market is projected to rise significantly over the following years.
Moreover, the rising geriatric population has further paved its way to a higher demand for innovative methods of drug delivery to avoid chronic diseases such as diabetes among the population. Such factors are further contributing positively to the market growth of oral thin films. In addition to that, the rapidly growing investment in research and development (R&D) by leading players across the market to develop dissolvable solutions for other diseases is further projected to propel the growth of the global oral thin films market over the future years.
Reports and Insights Study identifies some of the key participating players in the oral thin films market globally are MonoSol Rx, Tesa Labtec GmbH, Pfizer, Inc., Novartis AG, Wolters Kluwer, Solvay, Allergan plc., Sumitomo Dainippon Pharma Co., Ltd., IntelGenx Corp, Transition Therapeutics, Inc., among others.
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