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The escalating number of elderly individuals is poised to have a favorable impact on market growth, primarily due to the susceptibility of this demographic to various illnesses like schizophrenia, migraine, opioid dependence, and other conditions. This vulnerability among the aging population is expected to bolster the market significantly. In China, for instance, the China National Committee on Aging noted that in 2014, approximately 185 million people were aged 60 or older, constituting around 15.7% of the population. Forecasts project a surge in this demographic to 487 million by 2053, accounting for 36.5% of the population, thereby contributing to the growth of the market in the Asia-Pacific region and other emerging economies.
The United Nations' World Population Prospects report highlights a global population of approximately 962 million individuals aged 60 and above in 2017, making up roughly 13% of the world's populace. Additionally, the World Health Organization (WHO) estimates a substantial increase in the global population aged 60 years and older, nearly doubling from 12% to 22% by 2050. In the United States, it is anticipated that over 20% of the entire population will be aged 65 years or older by 2030. Moreover, the United Nations predicts that Asia will be home to approximately 857,040 elderly individuals by 2050.
This significant surge in the elderly population is directly impacting the oral thin film drugs market. Older individuals are more susceptible to injuries and various health conditions such as schizophrenia, migraine, opioid dependence, and other diseases, often stemming from compromised immunity. Consequently, their increased hospital visits due to these health concerns are positively influencing market growth.
The expanding demographic of elderly individuals presents a significant opportunity for the oral thin film drugs market. This population subset often faces challenges related to immune system decline, making them more susceptible to various health issues. Conditions like schizophrenia, migraines, opioid dependence, and other illnesses tend to affect them more profoundly, leading to an increased demand for effective pharmaceutical solutions.
In China, the considerable increase in the aging population has spurred a need for improved healthcare and medication tailored to address age-related ailments. As the geriatric populace in China and across the Asia-Pacific region rises, there is a concurrent demand for healthcare products and medications, including oral thin film drugs. The shift towards tailored pharmaceutical solutions that cater specifically to the needs of elderly individuals, particularly in this region, is expected to fuel market growth.
Similarly, in the United States, the substantial growth in the population aged 65 years or older by 2030 is indicative of a rising requirement for medications that address age-related health conditions. With a substantial proportion of the population entering the elderly age bracket, pharmaceutical companies and healthcare providers are increasingly focused on developing innovative drug delivery methods, such as oral thin film drugs, to meet the healthcare needs of this demographic.
Moreover, the anticipated surge in the elderly population across the globe underscores the importance of developing drugs that are not only effective but also easily consumable, especially for individuals with swallowing difficulties or aversion to traditional forms of medication. The introduction of oral thin film drugs provides a viable alternative, ensuring ease of administration and improved compliance among the elderly population, further contributing to market growth.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 3.4 Billion |
| Market Size Value In 2023 | USD 3.7 Billion |
| Growth Rate | 9.01% (2023-2032) |
Oral Thin Film Drugs Market Highlights:
Global Oral Thin Film Drugs Market Overview
Oral Thin Film Drugs Market was valued at USD 3.5 billion in 2023 and is projected to grow from USD 3.8 billion in 2024 to USD 6.70 billion by 2032, exhibiting a CAGR of 7.70% during the forecast period (2023 - 2032). The key market drivers boosting the market growth of the oral thin film drugs are technological advancements in drug development and discovery processes, lower bioavailability of solid drugs, and imprecise dosage by liquid formulations.
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Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Oral Thin Film Drugs Market Trends
- Increasing demand for oral thin film drugs delivery systems to enhance the market growth
Oral thin film drug delivery systems are becoming more popular due to their advantages over conventional drug delivery systems, including their larger surface area, precision medication, and pleasant color and flavor. Thin-film drugs are said to be the preferred choice of patients and doctors as they are more patient-friendly and provide high-quality results. Oral thin film medications are accessible to store and transport and have high patient compliance. Moreover, these provide precise and accurate dosing while producing the desired effective result. As a result, the market for thin film drug delivery systems has experienced significant growth. High acceptance and impressive benefits have propelled the oral thin film drugs market revenue.
Several factors influence the market CAGR of oral thin film drugs. However, improvements in this novel drug delivery are the main factor predicted to drive the market. Due to its growing popularity, numerous businesses worldwide are concentrating their investments on this new method of drug delivery. Key startup companies primarily focus on oral thin-film drug delivery route options for cannabis-based drugs. For example, XPhyto Pharma is working on 13 drugs that will be delivered via thin film. All its products are undergoing Phase II clinical trials in European nations as of February 2021. XPhyto Pharma is currently evaluating the generic form of in Phase 2 clinical trial to treat Alzheimer's disease. Another factor that is expected to influence market growth is the use of thin-film drug delivery methods by significant market players to extend the patent of critical molecules.
Oral Thin Film Drugs Market Segment Insights
Oral Thin Film Drugs Product Insights
Based on product, the market segmentation of oral thin film drugs includes fast-dissolving buccal film and sublingual. The sublingual segment held the majority share in 2022, contributing to around ~65-67% of the oral thin film drugs market revenue owing to the growing demands and adoption of oral medication. Sublingual films are thin, adhesive sheets placed under the tongue to absorb drugs. They can deliver prescriptions and vaccines directly into the bloodstream, bypassing the need to swallow. The sublingual film, a transdermal patch or gum, is a drug-delivery device that delivers medication through skin contact and enables rapid absorption by target organs. Sublingual films can be inserted under the tongue for absorption or systemic dissolution. The factors driving this segment's growth are its rapid adoption and rising usage in emergency care.
April 2022:Sublingual film, manufactured by BioXcel Therapeutics, has been approved by the FDA for treating adult patients with acute agitation brought on by schizophrenia or bipolar I or II disorder for the oral thin film drugs industry.
Oral Thin Film Drugs Disease Indication Insights
Based on disease indication, the oral thin film drugs market segmentation includes opioid dependence, nausea & vomiting, schizophrenia, and migraine. The schizophrenia segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Drug delivery is widely used in patients with schizophrenia due to underlying factors like difficulty swallowing tablets and liquids, quick drug absorption into the mucosal membrane, and simplicity of administration. The drug delivery method is also popular among migraine patients due to its effectiveness and rapid pain relief.
Oral Thin Film Drugs Distribution Channel Insights
Distribution channels have bifurcated the oral thin film drugs market data into retail pharmacies, hospital pharmacies, and online drug stores. Retail pharmacies dominated the market in 2022 and are expected to be the fastest-growing segment during the projected period 2022-2030, owing to an end-user preference for retail pharmacies, easy availability of a broad range of products, and a rise in the number of retail pharmacies in developing nations. The greater accessibility of pharmaceutical products through retail channels was a factor in this segment's dominance.
Figure 2: Oral Thin Film Drugs Market, by Distribution Channel, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Oral Thin Film Drugs Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North America Oral Thin Film Drugs market accounted for USD 1.55 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The key factors driving the market in the region are higher penetration of oral thin film drugs, product availability, and the presence of a substantial of suppliers compared to the other regional areas. Moreover, the rising prevalence of schizophrenia in developed countries such as the United States is expected to fuel regional market growth in the coming years.
Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: ORAL THIN FILM DRUGS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
European oral thin film drugs market accounts for the second-largest market share. Numerous elements, including the rising incidence of Parkinson's disease, impact the market's expansion in Europe. Moreover, more extensive research and development activities on thin-film drugs are expected to propel market growth in European countries. In addition, increased European government funding for innovative drug delivery models is expected to drive the oral thin film drugs industry in the coming years. Further, the German market of oral thin film drugs held the largest market share, and the UK market of oral thin film drugs was the fastest-growing market in the European region.
The Asia-Pacific Oral Thin Film Drugs Market is expected to grow at the fastest CAGR from 2022 to 2030. Factors such as a larger senior patient pool, rising healthcare spending, and improved infrastructure support market growth in this region. An increase in awareness of thin-film therapeutic applications is expected to propel the market during the forecast timeframe. Other factors driving the regional development of the oral thin film drugs industry include key product launches, a higher concentration of market players or manufacturers, acquisitions, partnerships among significant players, and an increase in cases of target diseases in the region. Moreover, China’s market of oral thin film drugs held the largest market share, and the Indian market of oral thin film drugs was the fastest-growing market in the Asia-Pacific region.
Oral Thin Film Drugs Key Market Players & Competitive Insights
Major market players in the oral thin film drugs industry are investing in the research and development of fast-dissolving oral thin film drugs to improve their competitive advantage by introducing new platform technologies, including soluleaves, XGEL, and waferTab. R&D contributes to developing novel drug delivery solutions that are more convenient, beneficial, and efficient. A robust pipeline of molecules, contractual agreements, mergers & acquisitions, and unique product launches are key market development strategies major market players use to increase customer reach.
Companies are rushing to develop and launch new products to increase their market share. The oral thin film drugs market major players such as IntelGenx Corp., C.L. Pharma, CURE Pharma, ZIM Laboratories Ltd, and others are working to increase market demand by investing heavily in research and development activities. Manufacturing companies locally to cut operating costs is one of the vital business strategies manufacturers use in the oral thin film drugs industry to benefit customers and expand the international market sector.
CURE Pharmaceutical is an advanced drug delivery, and development firm focused on enhancing drug efficacy, safety, and patient experience through patented technology drug dosage forms and delivery methods. CURE has an industry-leading full-service cGMP manufacturing facility. It is a leading developer and manufacturer of the most advanced oral thin film drugs delivery system (CureFilm) on the market today. CURE has collaborated with top pharmaceutical firms and created several products using innovative delivery systems. CURE has established partnerships in the United States, Israel, Canada, and Germany, among other markets, to advance a variety of therapeutic categories, including pharmaceutical cannabis. CURE Pharma Holding Corporation received patent authorization from the United States Patent and Trademark Office in November 2021 for its CUREfilm Blue Advanced technologies, an oral solubilized film of USPTO.
LTS LOHMANN Therapie-Systeme AG, a business based in Germany that specializes in creating and manufacturing drug delivery systems like oral thin films (OTF), purchased Tapemark Inc. in September 2022 for an undisclosed sum. With this acquisition, LTS took advantage of Tapemark's top CDMO, which has experience with products for iontophoresis, unit dosage semi-solid drugs, and oral thin film drugs. Tapemark Inc is a CDMO headquartered in the United States that specializes in topically applied drug delivery systems and oral thin film drugs.
Key Companies in the oral thin film drugs market include
- Johnson & Johnson Services
- Pfizer Inc
- CURE Pharmaceutical
- LTS Lohmann Therapie-Systeme AG
- GlaxoSmithKline Plc
- Indivior Plc
- Novartis AG
Oral Thin Film Drugs Industry Developments
October 2022: IntelGenx Corp, a leading pharmaceutical oral thin film drugs delivery Company, partnered with Atai Life Sciences to develop new composition on IntelGenx polymer film technology solutions and utilize Atai's digital therapy for situational settling and adjusting patient support.
August 2022: Libervant Buccal Film from AquestiveTherapeutics has been approved by the FDA for the short-term management of episodic, stereotypical episodes of prevalent seizure activity.
July 2022: TFF Pharmaceuticals increased the size of its facilities by renting a facility in Austin, Texas, to meet the growing demand for oral thin film drugs freezing technologies.
Oral Thin Film Drugs Market Segmentation
Oral Thin Film Drugs Product Outlook
- Fast Dissolving Buccal Film
- Sublingual
Oral Thin Film Drugs Disease Indication Outlook
Oral Thin Film Drugs Distribution Channel Outlook
- Retail Pharmacies
- Hospital Pharmacies
- Online Drug Stores
Oral Thin Film Drugs Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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