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Oral Transmucosal Drugs Market Size, Share, Growth & Trends 2024-2033 | Competitive Outlook
Oral Transmucosal Drugs Market Size
According to The Business Research Company's, The oral transmucosal drugs market size has grown strongly in recent years. It will grow from $36.34 billion in 2023 to $39.70 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%. The growth in the historic period can be attributed to advancements in diagnostic capabilities, aging demographics, environmental pollutants, genetic susceptibilities, enhanced detection rates, faster relief facilitated by fast drug absorption, and better adherence.
The oral transmucosal drugs market size is expected to see strong growth in the next few years. It will grow to $56.83 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to advancements in personalized medicine, increasing research on novel drug delivery systems, expanding geriatric population, growing awareness of oral health, rising demand for non-invasive treatments, and evolving regulatory landscapes. Major trends in the forecast period include adoption of novel formulations, personalized medicine approaches, telehealth advancements, integration of digital health technologies and technological innovations in pharmaceuticals.
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Market Drivers and Trends:
The rising incidence of Parkinson's disease is expected to propel the growth of the oral transmucosal drug market going forward. Parkinson's disease refers to a progressive neurological condition causing tremors, stiffness, and movement difficulties due to a reduction in dopamine-producing cells in the brain. The rising prevalence of Parkinson's disease is due to aging demographics, environmental pollutants, genetic susceptibilities, and advancements in diagnostic capabilities that enhance detection rates. Oral transmucosal drugs support Parkinson's disease treatment by facilitating fast drug absorption and overcoming digestive challenges, leading to faster relief, better adherence, and possibly fewer motor complications. For instance, in December 2022, according to the Parkinson's Foundation, a US-based non-profit organization, approximately 1 million individuals in the United States currently have Parkinson's disease (PD), which is expected to increase to 1.2 million by 2030. Therefore, the rising incidence of Parkinson's disease is driving the growth of the oral transmucosal drug market.
Major companies operating in the oral transmucosal drug market focus on developing innovative drug delivery solutions, such as sublingual vitamin spray, to enhance drug delivery efficacy, improve patient convenience, and optimize therapeutic outcomes. A sublingual vitamin spray is an oral transmucosal drug delivery system that provides vitamins directly into the bloodstream via the mucous membranes under the tongue. This method bypasses the gastrointestinal tract and liver metabolism, allowing for rapid and efficient absorption of the vitamins. For instance, in October 2022, Vestige Marketing, an India-based wellness and fitness company, introduced Absorvit, a sublingual vitamin spray that provides swift absorption and rapid results. This innovative product offers 3-10 times greater absorption than traditional oral methods. It contains upgraded forms and precise doses of essential vitamins, including B12, C, D, and multivitamins, ensuring optimal nutrition delivery. Absorvit represents a convenient and efficient way to supplement vital nutrients, enhancing overall wellness.
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Major Key Players of the Market:
Pfizer Inc., Merck & Co. Inc., AbbVie Inc., Sanofi-Aventis LLC, AstraZeneca PLC, Abbott Laboratories, Novartis AG, GlaxoSmithKline plc, Eli Lilly & Company Ltd., Boehringer Ingelheim International GmbH, Viatris Inc., Teva Pharmaceutical Industries Ltd., Biogen Inc., Actavis Pharma Inc., Sun Pharmaceutical Industries Limited, Dr. Reddy's Laboratories Ltd., Endo Pharmaceuticals Inc., Lupin Limited, Zydus Lifesciences Limited, Mallinckrodt Pharmaceuticals Plc, Glenmark Pharmaceuticals Limited, Jubilant Life Sciences Limited, Torrent Pharmaceuticals Ltd., Alembic Pharmaceuticals Ltd, Wockhardt Ltd.
Oral Transmucosal Drugs Market 2024 Key Insights:
• The oral transmucosal drugs market size is expected to see strong growth in the next few years. It will grow to $56.83 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%.
• Parkinson's Disease Driving Growth In Oral Transmucosal Drug Market
• Innovative Sublingual Vitamin Spray Revolutionizes Nutrient Delivery
• North America was the largest region in the oral transmucosal drugs market in 2023
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