Thin Film Drugs Market is poised to touch USD 26.79 billion by 2022 | Market Data Forecast
The global Thin Film Drugs market is
anticipated to grow at 9.00% CAGR from 2017 to 2022 and it is estimated that
the global market was valued at USD 17.41 billion in 2017 and is expected to
reach USD 26.79 billion by 2022.
Thin film drugs are made of hydrophilic
polymers that readily dissolve on the buccal cavity. These drugs are
administered orally and enter the systemic circulation of the body upon
absorption on the tongue.
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The growing demand for efficient drug
delivery systems has amplified the uptake of thin film drugs due to their
efficiency and effectiveness. The convenience of transportation and storage has
encouraged patients to opt for these drugs. Thin film drugs also permit precise
dosages to accomplish desired outcomes and thereby aid the market growth. The
growing investments in research and development of newer polymeric thin films
as a method of drug deliver has also invigorated the market growth. Thin film
drugs are poised to gain attention in the healthcare industry as eliminate the
drawbacks associated with conventional forms of dosages such as inconvenience
of administration, lower bioavailability, and patient non-compliance among
others.
The global Thin Film Drugs market is
segmented on the basis of Product, Disease Indication and Distribution Channel.
On the basis of Product, the market is segmented into Oral Thin Film, and
Transdermal Thin Film. The Oral Thin Film sub segment is further segmented into
Sublingual Film and Fully Dissolving Dental/Buccal Film. In 2017, the oral thin
film sub segment held the largest share of the Product market segment followed
by transdermal thin film. On the basis of Disease Indication, the market is
segmented into Schizophrenia, Migraine, Opioid Dependence, and Nausea and
Vomiting. On the basis of Distribution Channel, the market is segmented into
Hospital Pharmacies, Drug Store, Retail Pharmacies, and E-Commerce.
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On the basis of geography,
the Thin Film Drugs market is segmented into North America, Europe, Asia
Pacific, Latin America and Middle East and Africa. North America accounted for
the largest share of the Thin Film Drugs market owing to factors such as
advancements in pharmaceutical research coupled with extensive investments in
research and development. Moreover, a steadily rising demand of novel drug
delivery is further expected to aid the growth of the regional market.
The market is dominated by
companies like Pfizer Inc., Novartis AG, Wolters Kluwer, Solvay, Allergan plc.,
Sumitomo Dainippon Pharma Co. Ltd., Indivior Plc., MonoSol Rx, IntelGenx Corp.,
ZIM Laboratories Limited, and IntelGenx Corp.
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