Press release
Oral Thin Films Market Is Anticipated to Increase at 8.7% CAGR and Reach US$ 7.19 Billion by 2032
The market for oral thin films is anticipated to grow at a CAGR of 8.7% from 2022 to 2032, rising from a market value of US$ 3.12 billion to US$ 7.19 billion.By 2032, the U.S. is anticipated to hold a greater than 25% market share for oral thin films (OTF).
Because it is easy to use, has a low cost of therapy, and has a high rate of patient compliance, the oral route is the most recommended way to administer therapeutic medications. The most popular oral solid dosage forms are tablets and capsules. However, patients who are bedridden, elderly, or children have difficulty ingesting standard oral dosage forms.
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Key Takeaways from Market Study
• The global oral thin films market is set to expand at a CAGR of 8.7% and reach US$ 7,187.1 million by the end of 2032.
• The market evolved at 6.1% CAGR between 2017 and 2021.
• Under product vertical, the orodispersable segment is estimated to be valued at US$ 1.92 billion in 2022.
• North America is the leading regional market with 60.3% share in 2021.
• Consumption of oral thin films is expected to increase at CAGRs of 12.5% and 24.2%, respectively, in Latin America and the Middle East and Africa.
"Surging adoption of novel oral thin films among geriatric & pediatric population boosting market value," says a Fact.MR analyst.
Competitive Landscape:
Prominent market players for oral thin films mostly rely on new product launches based on cutting-edge technological advancements, as well as strategic expansion activities, including mergers & acquisitions, partnerships, and collaborations.
• In August 2020, ZIM Laboratories Ltd. signed a licensing agreement with Hypera Pharma Group to market vitamin D3 in a novel oral thin film.
• In March 2021, Aquestive Therapeutics Inc. demonstrated an extensive review of the science, clinical results, and development strategy of its PharmFilm® oral sublingual film for administering epinephrine. This product is touted to effectively treat allergic reactions, including anaphylaxis.
Fact.MR has provided detailed information about the price points of key manufacturers of oral thin films positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
The characteristics of oral thin films, such as dosage flexibility and ease of administration, attracts users. Oral thin films are also fast-acting and prompt drugs that enter the circulatory system through direct absorption, and even reduce the risk of choking. Furthermore, no special training is required for their administration.
As oral thin films are moisture-sensitive, they require special packaging. Focusing on product innovation and packaging techniques can help manufacturers reduce costs and product damage.
Segmentation of Oral Thin Films Industry Research:
• By Product Type :
o Oromucosal
Sublingual Film
Buccal Film
o Orodispersable
• By Indication :
o Pain Management
o Neurological Disorders
o Nausea & Vomiting
o Opioid Dependence
o Others
• By Distribution Channel :
o Hospital Pharmacies
o Retail Pharmacies
o Online Pharmacies
• By Region :
o North America
o Latin America
o Europe
o East Asia
o South Asia & ASEAN
o Oceania
o MEA
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Questionnaire answered in the Market outlook Report of Oral Thin Films include:
• What is the key strategy deployed by large players to maximize Oral Thin Films growth?
• What are the main challenges faced by players in the Oral Thin Films Demand?
• With the advent of technological advancement, how will the Oral Thin Films landscape change over the forecast period?
• What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Oral Thin Films size?
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