Press release
Thin Film Drugs Market With Key Players 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.
Thin Film Drugs Market
In the year 2018, Global Thin Film Drugs Market was valued at USD 18.98 Billion. By the year 2023, it is expected to reach USD 29.2 Billion at pace of 9.0% CAGR.
Thin film drugs are the best substitute when compared to tablet or capsule as they are made of hydrophilic polymers that dissolves rapidly when kept in the buccal cavity or mouth. These drugs have the ability to deliver the drug directly in the systemic circulation of the body.
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Underlying Causes
The growth for Thin Film Drugs market is driven due to factors like low manufacturing costs of thin film drugs, rising demand for effective drug delivery systems across the globe, increasing geriatric population globally, rising prevalence of chronic diseases, advancement of technologies in the medical industry. In addition, growing research activities to develop newer polymeric thin films, rising demand for thin film drugs, and convenience of transportation and storage encouraged patients to opt for these drugs which is expected drive the market growth. However, high cost involved in the treatment, and lack of awareness about these drugs in the developing countries is the restraining factors for Global Thin Film Drugs Market.
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Geographic Segmentation:
Based on geography the Flexible Packaging market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the global Thin Film Drugs market due to increasing investments for R&D activities, advancement of technology in pharmaceutical industry, and rising demand for thin film drugs are the driving factors in this region. Asia-Pacific is expected to witness highest growth rate for Thin Film Drugs market during the forecast period.
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Key Players:
Leading companies for Global Flexible Packaging market are Allergan plc., Sumitomo Dainippon Pharma Co. Ltd., Indivior Plc., MonoSol Rx, IntelGenx Corp., IntelGenx Corp, ZIM Laboratories Limited., Pfizer Inc., Novartis AG, Wolters Kluwer, and Solvay.
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