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| Oral Thin Films Market |
Oral thin films are polymeric sheets used to deliver medications to the oral cavity. They rapidly dissolve on contact with saliva, without the need for water, providing convenience compared to tablets and capsules. Their thin, flexible nature also makes them easy to carry discreetly. Pharmaceutical companies are increasingly utilizing oral thin films for pain relievers, nausea medications and other drugs.
The global
Oral Thin Films Market is estimated to be valued at US$ 3335.68 Mn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Increasing demand for convenient dosage forms is one of the key factors driving
the growth of the oral thin films market. Unlike tablets and capsules, oral
thin films do not need water to swallow and rapidly dissolve in the mouth,
providing ease of administration. Their thin, flexible nature makes them highly
portable and non-invasive compared to other oral medications. This has made
oral thin films preferable for patients with dysphagia or swallowing
difficulties. Manufacturers are extensively focusing on developing oral thin
films for a wider range of drugs to capitalize on this growing demand. The
rapid dissolution and absorption in the oral cavity also enables faster onset
of action. These advantages have heightened the adoption of oral thin films
among the geriatric population and pediatric patients.
Segment Analysis
The global oral thin films market is dominated by the antiepileptic,
analgesics, and anti-Parkinson subsegments. The analgesics subsegment accounts
for the largest market share and is expected to continue dominating the market
during the forecast period. This is attributed to the increasing demand for
pain management drugs owing to the rising geriatric population suffering from
arthritis and other chronic conditions requiring long-term pain relief medication.
Key Takeaways
The global Oral
Thin Films Market Share is
expected to witness high growth during the forecast period of 2024-2031. The
global Oral Thin Films Market is estimated to be valued at US$ 3335.68 Mn in
2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 to
2031.
North
American region is currently the fastest growing regional market for oral thin
films. This is owing to the increasing adoption of innovative drug delivery
formulations and rising investments from major market players in the region.
Key players operating in the oral thin films market are Purdue Pharmaceuticals
L.P., Titan Pharmaceuticals, Inc., Pfizer Inc., Mallinckrodt, Pfizer Inc.,
Assertio Holdings, Inc., Par Pharmaceutical, Amneal Pharmaceuticals LLC, Trevena,
Inc., Lupin, and Endo Pharmaceuticals, Inc. The key players are focusing on new
product launches and strategic collaborations to strengthen their market
position. For instance, in January 2022, Lupin launched Tizanidine
hydrochloride Orally Disintegrating Film.
For more insights, read- https://www.pressreleasebulletin.com/oral-thin-films-market-trends-size-and-share-analysis/
For more details on the report, Read- https://cmiinfopiece.blogspot.com/2024/01/plant-based-meat-market-growth.html
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