Oral thin films (OTF) are loaded with active substance that are used for drug delivery via mouth
Market Snapshot
As per the assessment by Market Research Future (MRFR), the global oral thin film drugs market is estimated to secure a valuation of USD 4,068.7 million and is expected to expand at a CAGR of 10.50% during the forecast period from 2018 to 2023.
Oral thin films (OTF) are loaded with active substance that are used for drug delivery via mouth. OTF drugs easily dissolve with saliva, therefore it is likely to gain traction, which can boost the oral thin film drugs market outlook 2020. Further, the minimal invasive attribute of OTF drugs is projected to be another key market driving factor. These drugs are likely to have a high acceptance rate due to its ease of application and high efficiency, which can induce major market gains during the forecast period. In addition, the incessant technical development in OTF drugs is likely to boost its demand and develop the market.
On the contrary, the high cost of treatment is projected to obstruct the market growth during the review period. However, its clinical benefits and rising geriatric population are likely to combat hampering causes, and boost the demand for OTF drugs.
Market Segmentation
The segment analysis of the global oral thin film drugs market is done by disease indication, product, and distribution channel.
The diseases indication based segments of the global oral thin film drugs market are migraine, schizophrenia, opioid dependence, and nausea and vomiting, and others. Among these segments, the migraine segment is estimated to grow at a robust pace during the forecast period.
The product-based segments of the global oral thin film drugs market are Fast Dissolving Buccal Film and sublingual.
The distribution channel based segments of the global oral thin film drugs market are retail pharmacies, hospital pharmacies, online drug stores, and others. The retail pharmacies are likely to procure the valuation of USD 1 9309.9 million by 2023.
Regional Analysis
Based on the region, the global oral thin film drugs market report is segmented into Europe, North America, Asia-Pacific, and the Middle East and Africa.
As per the research by MRFR, the OTF drugs market is likely to be led by the Americas during the forecast period owing to the presence of globally renowned players. Further, the developed healthcare sector with increased expenditure to avail medical facilities are projected to be other potent factors in market development in the region. The analysis reveals that the expansion of retail pharmacies in the region can assist the Americas in procuring the CAGR of 10.72% during the review period.
Europe is predicted to witness robust growth during the review period owing to the increased favorable initiatives taken by the government of various developed countries situated in the region. Further, rising healthcare funds are anticipated to drive the regional market significantly.
The APAC region is estimated to be a lucrative market during the forecast period owing to the presence of developing economies. The growing geriatric population in the region is estimated to play a crucial role in augmenting the regional market.
The MEA region is likely to experience slow growth due to the presence of sluggish economies, majorly in Africa. However, the well-developed countries like the UAE, Qatar, and others can make a significant contribution owing to sufficient healthcare budget.
Key Players
The renowned players of the global oral thin film drugs market are Indivior Plc (U.S.), Novartis AG (Switzerland), LTS Lohmann Therapie-Systeme AG (Germany), CURE Pharmaceutical (U.S.), GlaxoSmithKline Plc (U.K.), Pfizer Inc. (U.S.), and Johnson & Johnson Services, Inc. (U.S.).
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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