The oral thin films market studied is anticipated to register a CAGR of nearly 8.1%, during the forecast period. Certain factors that are driving the market growth include the rising prevalence of the indicated diseases and the advantages associated with thin films.
Governments and healthcare institutions have been striving to render efficient medical treatment to COVID patients. Advanced drug delivery systems like oral thin films are being considered a boon for the repurposing of drugs. However, the disruption of supply chains and research programs due to lack of labor and lockdowns is restraining the market growth.
The rising burden of the indicated diseases and widening applications of oral thin films are primary factors for the market growth. According to Parkinson’s Foundation 2020, more than 10 million people worldwide are living with Parkinson’s disease. About one million are living with Parkinson’s disease in the United States by 2020. Moreover, the incidence of Parkinson’s disease increases with age, the aging population around the world positively impacts the market growth.
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According to the Migraine Research Foundation, in 2018, the migraine had affected 39 million men, women, and children in the United States, and around 1 billion people, globally. Migraine is found to affect about 28 million women in the United States.
The incidence of nausea and motion sickness is also increasing due to several factors, including a rise in the number of travelers across the globe and increased incidences of cardiovascular diseases in the geriatric population, which majorly cause motion sickness. For instance, according to the United Nations World Tourism Organization (UNWTO), international tourist arrivals increased by 5.4% in 2018 compared to 2017, and this tendency is expected to continue throughout the forecast period, which demands higher requirements for motion sickness treatment globally.
All these factors are expected to drive the growth in demand for oral thin films, across the globe, over the forecast period.
However, there are few technical limitations to these oral thin films that restrain the market growth. The incorporation of water-insoluble drugs into oral thin films is still in starting stages. Tablet and capsules can carry excipients that helps the drug to dissolve. On the other hand oral thin films are a more streamlined drug delivery systems primarily dependent on polymers to increase the solubility of the drug. This may reduce the drug solubility compared to other forms.
Key Market Trends
The Sublingual Film Segment Holds a Significant Share of the Market
Pharmaceutical scientists throughout the world are trying to explore thin films as a novel drug delivery tool. Thin films have been identified as an alternative approach to conventional dosage forms. The sublingual route is targeted for the delivery of drugs exhibiting high permeability across the mucosa and is utilized for the treatment of acute disorders. Systemic drug delivery is achieved by the diffusion of the active ingredients through the ventral surface of the tongue and the floor of the mouth.
Tailorable Sublingual films are also available in the market having characteristics including dissolution rates, adhesion, film thickness, material composition, taste-masking, and Active Pharmaceutical Ingredient absorption rates. Dissolution may be triggered for a specific biological fluid, pH, or other condition. Multi-layered product constructions were available for optimum bio-availability and stability.
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Additionally, market players in this segment are continuously launching new products to gain a competitive edge. For instance, In February 2019, Mylan N.V. has launched Buprenorphine and Naloxone Sublingual Film, in the United States and in the same month of 2019, Dr. Reddy’s Laboratories Ltd also launched the generic version of the Indivior’s Suboxone Sublingual Film in the United States.
North America Dominates the Market
In the North American region, the United States accounted for the largest market share, as a major section of the population is approaching schizophrenia medication therapies, primarily due to hectic lifestyles. Moreover, the country offers highly advanced medical care, for early treatment capabilities, along with the involvement of the government in increasing healthcare expenditure. This is driving the growth of the market studied.
Moreover, new product launches and the presence of the key market players are anticipated to fuel the market growth over the forecast period. In November 2019, Aquestive Therapeutic’s Exservan Oral Film received early-action approval from the US Food and Drug Administration (FDA) for the treatment of amyotrophic lateral sclerosis (ALS), an orphan disease.
The oral thin film market is competitive and consists of a few major players. Companies are involved in rapid product developments and launches to maximize their market shares. Companies, like Aquestive Therapeutics Inc., IntelGenx Corp., LTS Lohmann Therapie-Systeme AG, NAL Pharma, Novartis AG, Solvay, Mylan NV, and ZIM Laboratories Limited, among others, hold a substantial share in the market.
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