Pune, India, March 09, 2023 (GLOBE NEWSWIRE) -- The global thin film drugs market size was valued at USD 7.35 billion in 2020. The market is projected to grow from USD 8.16 billion in 2021 to USD 16.27 Billion in 2028, exhibiting a CAGR of 10.5% during the forecast period. Fortune Business Insights™ published this information in a new study, titled, “Thin Film Drugs Market, 2021-2028.”
The surging geriatric population across the globe is anticipated to affect growth positively. As per the United Nations, in 2017, the global old age population was 962 million. It is estimated to double by the end of 2050 and reach 2.1 billion. Hence, the prevalence of Alzheimer’s and Parkinson’s diseases will also increase rapidly, thereby accelerating the demand for thin film drugs.
Key Industry Development:
September 2020: XPhyto Therapeutics Corp. upgraded its oral disintegrating film (ODF) drug delivery program. The company is currently developing ODF dosage forms for THC and CBD based on Vektor Pharma TF GmbH’s platform. It would provide increased patient convenience and product efficacy.
Request a Sample Copy of the Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/thin-film-drugs-market-104883
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 10.5% |
| 2028 Value Projection | USD 16.27 Billion in 2028 |
| Base Year | 2020 |
| Thin Film Drugs Market Size in 2020 | USD 7.35 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 135 |
Key Takeaways
- The adoption of thin-film therapeutics is anticipated to be propelled by the introduction of new product launches.
- The market's growth could benefit tremendously from the increase in the worldwide geriatric population
- In 2020, the global market was dominated by the oral segment.
- In 2020, North America held the dominant market share.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/thin-film-drugs-market-104883
Drivers and Restraints:
Development of Cannabis-based Drugs to Propel Growth
The rising technological advancements occurring in the field of drug delivery systems is set to spur the thin film drugs market growth in the upcoming years. Additionally, numerous start-up firms are investing in the development of cannabis-based drugs. XPhyto Pharma, for instance, is likely to create around 13 drugs by using the thin firm drug delivery method. In Europe, the study is in Phase II clinical trial as of February 2021. However, the lack of high investments in emerging economies may obstruct growth.
Segments:
Retail Pharmacy Segment to Dominate Backed by Easy Availability of Drugs
Our analysts have segmented the market on the basis of product, disease indication, distribution channels, and geography. By product, it is fragmented into transdermal film drugs and oral thin film (OTF) drugs. Based on the disease indication, it is divided into opioid dependence, migraine, schizophrenia, and others. Below is a glimpse of the distribution channel criterion:
By Distribution Channels: it is segregated into hospital pharmacy, retail pharmacy, and others. Amongst these, the retail pharmacy segment dominated in 2020 by earning the largest thin film drugs market share. This growth is attributable to the easy availability of thin film drug delivery models in retail pharmacies because of their possession of generic molecules.
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/thin-film-drugs-market-104883
Report Coverage:
We follow a comprehensive research methodology that focuses majorly on offering accurate information. We have used a data triangulation technique which would help us to provide authentic estimates and gauge the overall market dynamics. Besides, we have gained access to several global and regional paid databases for delivering the latest information so that you can invest only in the crucial zones.
Regional Insights:
Government Initiatives to Innovate Drug Delivery Models will Boost Growth in Europe
North America: The region generated USD 2.66 billion in terms of revenue in 2020. It is expected to grow significantly fueled by the increasing prevalence of neurological disorders, such as Alzheimer’s and Parkinson’s disease in the U.S. As per the Alzheimer's Association, in 2020, 5.8 million Americans belonging to the age group of 65 years and older were living with Alzheimer's dementia. Also, the rising cases of schizophrenia in the region would also propel growth.
Europe: The increasing research and development activities in the region to create thin film drugs would aid growth. Coupled with this, the surging government initiatives and fundings to innovate various drug delivery models would accelerate growth.
Asia Pacific: The region is likely to showcase stable growth because of the rising spending on healthcare infrastructure and increasing old age population. Also, the surging awareness about the benefits of adopting these drugs would bolster regional growth.
Competitive Landscape:
New Product Launches & Partnerships — Vital Strategies of Key Companies
The global market for thin film drugs houses a few dominant companies, such as ZIM Laboratories Limited, Allergan plc., Aquestive Therapeutics, and Pfizer, Inc. They are majorly focusing on new product launches, partnerships, and robust pipeline of molecules to gain a larger customer base.
List of Key Players Mentioned in the Report:
- Pfizer, Inc.(U.S.)
- Allergan (Ireland)
- ZIM Laboratories Limited (India)
- Novartis AG (Switzerland)
- Aquestive Therapeutics (U.S)
- Sumitomo Dainippon Pharma Co. Ltd. (Japan)
- IntelGenx Corp (Canada)
- Wolters Kluwer (Netherlands)
- XPhyto Pharma (Germany)
Get A Quote: https://www.fortunebusinessinsights.com/enquiry/get-a-quote/thin-film-drugs-market-104883
Major Table of Contents:
- Global Thin Film Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Drug Type
- Oral Thin Film Drugs
- Transdermal Thin Film Drugs
- Market Analysis, Insights and Forecast – By Disease Indication
- Schizophrenia
- Migraine
- Opioid Dependence
- Others
- Market Analysis, Insights and Forecast – By Distribution Channel
- Retail Pharmacy
- Hospital Pharmacy
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Thin Film Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis – By Drug Type
- Oral Thin Film Drugs
- Transdermal Thin Film Drugs
- Market Analysis – By Disease Indication
- Schizophrenia
- Migraine
- Opioid Dependence
- Others
- Market Analysis – By Distribution Channel
- Retail Pharmacy
- Hospital Pharmacy
- Others
- Market Analysis – By Country
- U.S.
- Canada
TOC Continued…!
Related Reports:
Nicotine De-Addiction Products Market Size, Share, Revenue Forecast and Opportunities
Drug Delivery Market Size, Share, Revenue Forecast and Opportunities
Softgel Capsules Market Size, Share, Opportunities & Analysis
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
