Oral Dissolving Film Market Size, Share, Growth, and Industry Growth, By Type (Oromucosal Film and Orodispersible Film), By Application (Hospitals and Clinics, Drug Stores, and E-commerce), Regional Forecast To 2028

Updated On: 13 March 2023

REPORT OVERVIEW

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The global oral dissolving film market size was USD 391.5 million in 2021 and, the market is projected to touch USD 767.3 million by 2028, with a growing CAGR of 9.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with oral dissolving film experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

An oral dissolving film is an advanced form of drug that is induced with an alternative to traditional forms such as capsules, liquids, and tablets. This drug delivery system is researched by pharmaceutical companies globally. The pharmacological and pharmaceutical properties of the drug require in-depth research for the development of thin film formulation. This drug delivery is proven to be beneficial in individuals who experienced trouble while swallowing the tablets or got the feeling of vomiting and nausea. The oral dissolving film market is expected to experience exponential growth owing to its quick-dissolving nature. 

Oral dissolving film allows the medicine to pass the first stage of metabolism and makes it more bioavailable. The strip dissolves, and the drug is ready to enter the bloodstream buccally, enterically, or sublingually. The formulation of oral dissolving film includes performance and aesthetic characteristics such as plasticizers, strip-forming, saliva agents, flavoring agents, stabilizing agents, pharmaceutical ingredients, and sweetening agents. 

COVID-19 Impact: Supply Disruption Hampered Growth in the Market

The research, development, and operational skills of pharmaceutical businesses have been greatly disrupted by the abrupt COVID-19 outbreak in numerous nations throughout the world. This pause in R&D operations is the result of the greater attention being paid to creating drugs and vaccines to combat COVID-19. The thin-film medication's sales increase has stayed constant during the pandemic, though. The first two quarters of 2020 saw a small decline in sales revenue for businesses like Zim Laboratories. However, in the second half of 2020, the company's revenue recovered and significantly improved.

LATEST TRENDS

"Various R&D Activities in the Product to Bolster Market Growth"

There are several aspects that influence the worldwide market. However, improvements in this new drug delivery are expected to be the main factor driving the market. Due to its growing popularity, numerous businesses all around the world are concentrating their investments on this new method of drug delivery. Important startup businesses are concentrating, in particular on thin-film drug delivery methods for cannabis-based medications. Due to how simple these medicines are to administer, older people over the world are increasingly adopting thin-film therapies. Therefore, major players are also concentrating on these medication delivery techniques for illnesses like Parkinson's and Alzheimer's, which are common in the geriatric population. Thus, an increase in the number of elderly people globally could have a significant positive impact on the oral dissolving film market growth in the years to come.

Segmentation

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• By Type Analysis

By type, the market is segmented into oromucosal film and orodispersible film.

• By Application Analysis

Based on application, the market is classified into hospitals and clinics, drug stores, and e-commerce.

The E-commerce section is anticipated to hold a major part of the market due to the easy availability of the product on e-commerce platforms. 

DRIVING FACTORS

"Government’s Emphasis on Development of Advanced Healthcare Facilities to Surge Growth"

Governments and healthcare organizations have been working to provide COVID patients with effective medical care. Medication repurposing is seen as a benefit of modern drug delivery technologies such as thin oral films. However, the market expansion is being constrained by the interruption of supply chains and research initiatives brought on by workforce shortages and lockdowns. The expanding uses of oral thin films and the increasing prevalence of the disorders mentioned are the main drivers of market expansion. Over 10 million people worldwide suffer from Parkinson's disease, according to Parkinson's Foundation 2020. By 2020, there will be one million Americans with Parkinson's disease. Additionally, because Parkinson's disease incidence rises with age, an aging population globally has a beneficial impact on oral dissolving film market growth.

"Rapid Adoption of the Product to Boost Product Demand"

The demand for oral dissolving film is expected to increase due to its convenience in consumption. The market is anticipated to expand as a result of the escalating demand for easy medication delivery methods. It is forecasted to be a possible substitute for conventional dosage forms. It is a flexible drug delivery platform because it is a practical, self-consumable, and quickly dissolving dosage form for the administration of pharmaceuticals. Thin films are swallowed orally and do not need water to be absorbed. OTF has a quicker rate of dissolution, making it patient-friendly. These factors are expected to foster the oral dissolving film market growth.

RESTRAINING FACTORS

"Various Technical Limitations to Limit the Growth of the Market"

The oral thin films have a few technical restrictions that may limit the market expansion. Drugs that are insoluble in water are only now beginning to be integrated into oral thin films. Excipients that are estimated to aid in the drug's dissolution can be included in tablets and capsules. However, oral thin films are a more efficient drug delivery technique that relies heavily on polymers to make drugs more soluble. On comparing to other formulations, this could lessen the solubility of the drug.

REGIONAL INSIGHTS

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"North America to Lead the Market Due to Rising Demand for Medication Therapies"

North America is expected to hold a major part of the oral dissolving film market share due to the rising population approaching medication therapies, generally due to hectic lifestyles. Additionally, the countries existing in the region offer advanced medical care coupled with the escalating influence of government on healthcare expenses. The region holds approximately 30% of the total market share.

Asia Pacific is estimated to hold approximately 30% of the total oral dissolving film market share owing to the existence of a large geriatric population coupled with rising healthcare expenses and infrastructure supplements. 

KEY INDUSTRY PLAYERS

"Key Players to Focus on Product Development for Global Market Growth"

The businesses are working on developing new eco-friendly and high-efficiency products to offer better effectiveness and greater value. Companies are striving to develop products that offer easier portability. Businesses also use innovation, acquisitions, and investments to try to increase sales. They are raising their production capacity in order to better serve their various markets. The marketplace is competitive as a result of the existence of numerous huge firms. A big worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics.

List of Market Players Profiled

• Aquestive Therapeutics (U.S.)
• Kyukyu Pharmaceutical (Japan)
• BioDelivery(BDSI) (U.S.)
• IntelGenx (Canada)
• Tapemark (U.S.)
• Shilpa Therapeutics (India)
• CL Pharm (U.S.)
• Lubrizol Life Science (U.S.)
• Adhex Pharma (France)
• DK Livkon (India)
• Arx Pharma (U.S.)
• Aavishkar (Ireland)
• ZIM Laboratories (India)
• Umang Pharmaceuticals (India)
• Cure Pharmaceutical (U.S.)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research.

• The pandemic's aftereffects and the subsequent lockdown.
• The market's most recent trend is currently fueling expansion.
• The factors are most likely to stimulate market growth.
• The reasons the market is expected to grow more slowly.
• A comprehensive regional analysis of the market is conducted.

Significant players and their business offices are also covered in the article.