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Oral Thin Films Global Market Report 2022
Major players in the oral thin films market are ZIM Laboratories, NAL Pharma, Cure Pharmaceutical, IntelGenx Corp, Kyu Kyu Pharmaceutical Co Ltd, Seoul Pharmaceuticals, CL Pharm, Aquestive Therapeutics Inc, Shilpa Therapeutics Pvt Ltd, Sunovion Pharmaceuticals Inc, Solvay, LTS Lohmann Therapie-Systeme AG, Mylan Inc, LIVKON Pharmaceuticals Pvt.
New York, June 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oral Thin Films Global Market Report 2022" - https://www.reportlinker.com/p06286055/?utm_source=GNW
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The global oral thin film Market is expected to grow from $3.18 billion in 2020 to $3.56 billion in 2021 at a compound annual growth rate (CAGR) of 11.93%. The oral thin film market is expected to reach $5.38 billion in 2026 at a CAGR of 10.88%.
The oral thin films market consists of sales of the oral thin films by entities (organizations, sole traders, and partnerships) that refer to a drug delivery dosage system composed of a mono polymeric thin film applied in the mouth, for a quick release of an active pharmaceutical ingredient (API) when placed on the tongue.The purpose of oral thin film (OTF) is to deliver therapeutic substances into the oral cavity or the stomach tract, where they are absorbed and transported directly to the circulatory system.
Oral thin-film technologies ensure a fast and sustained release of the active substance, ensuring the ideal dose reaches the correct location within the body.
The main types of oral thin films include sublingual film and fast dissolving dental/buccal film.The sublingual film refers to oral thin films that rapidly dissolve under the tongue and are quickly absorbed by blood with the help of tissue.
It is used to treat patients who are recovering from opioid misuse disorder.These oral thin films are used in treatment of schizophrenia, migraine, opioid dependence, nausea and vomiting.
They are sold through hospital pharmacies, retail pharmacies, and other distribution channels.
North America was the largest region in the oral thin film market in 2019.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the oral thin film market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rising demand for thin-film drug delivery systems is propelling the growth of the oral thin film market.Thin films have been identified as a potential alternative to standard dosage forms.
It is a convenient, self-administrable, and fast-dissolving dosage form for the delivery of medications, which makes it a versatile drug delivery platform.Thin films are taken orally and do not require water to swallow to absorb a drug.
OTF is more patient-friendly due to its rapid dissolution rate.Due to these reasons, the demand for thin-film drug delivery systems is increasing which is bringing more demand for oral thin films as well.
For instance, in January 2021, a Turkish Journal of Pharmaceutical Sciences report shows that the global thin-film pharmaceutical products market is expected to increase from $7 billion in 2015 to over $15 billion by the end of 2024. It estimates that there will be an increase of 117% in 10 years. Thus, increasing demand for thin-film drug delivery systems is driving the growth of the oral thin film market.
The rapidly growing investment in research and development (R&D) by leading players has propelled the growth of the oral thin film market.Major companies operating in the oral thin films market are focused on investing in research and development of fast dissolving oral thin films to strengthen their position by implementing new platform technologies such as soluleaves, XGEL, and waferTab.
R&D helps to innovate new solutions that can be more convenient, effective, and efficient for drug delivery. For instance, in October 2020, CURE Pharmaceutical Holding Corp. introduced Nutri-Strips, a revolutionary oral thin-film strip technology to enhance efficiency over OTC vitamins, capsules, soft gels, and gummies for a better consumer experience. As part of its R&D efforts, the company has developed a broad platform of formulations that offer targeted dosing including CURE’s patented and advanced oral thin-film strip technology.
In May 2019, CURE Pharmaceutical, a USA-based innovative drug delivery and development company acquired privately-held Chemistry Holdings Inc for an undisclosed amount.With this acquisition, CURE Pharmaceutical will expand Its technology platform in oral drug delivery, and the company is focused on creating a advacned drug delivery engine with the promise to transform patient experience and wellness.
Chemistry Holdings is a US-based formulation technology company that develops innovative delivery systems for products in the nutraceutical, pharmaceutical, and other industries.
The countries covered in the oral thin film market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06286055/?utm_source=GNW
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