Wilmington, Delaware, United States, Transparency Market Research, Inc. , Aug. 21, 2024 (GLOBE NEWSWIRE) -- As per the report published by Transparency Market Research, the global thin film drug manufacturing market (박막 의약품 제조 시장) was worth US$ 6.4 Billion in 2023 and is expected to reach US$ 16.5 Billion by the year 2034 at a CAGR of 9.0 % between 2024 and 2034.
Thin film drug manufacturing involves creating thin layers of medication that can be administered in various ways, such as orally, sublingually (under the tongue), or transdermally (through the skin). These thin films are designed to dissolve quickly and deliver the drug directly into the bloodstream, offering several advantages over traditional dosage forms like tablets or capsules.
Thin film drugs are employed in a variety of medications, including pain relief, anti-nausea, and treatments for chronic conditions. Moreover, there are various types of thin films. For instance, oral thin films dissolve in the mouth without the need for water, thereby making them convenient for patients who have difficulty swallowing. Moreover, transdermal patches are applied to the skin and deliver medication over a prolonged period and buccal and sublingual films are placed inside the cheek or under the tongue for rapid absorption.
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Thin Film Drug Manufacturing Market – The Sliced Version
The thin film drug manufacturing market is experiencing significant growth driven by several key factors. One of the primary drivers is the increasing demand for innovative drug delivery systems that enhance patient compliance and improve therapeutic outcomes.
Thin film drug delivery offers advantages such as ease of administration, rapid onset of action, and improved bioavailability, thereby making it particularly appealing for pediatric and geriatric populations. As a result, rising prevalence of chronic diseases and the growing need for targeted drug delivery systems are anticipated to boost thin film drug manufacturing market growth.
Moreover, technological advancements such as the development of novel polymers and nanotechnology-based thin films are further enhancing the efficacy and versatility of these drug delivery systems. AI-driven analytics are being deployed to optimize formulation parameters and predict patient responses, leading to more effective and tailored therapies. Hence, the impact of these advancements is expected to be irrevocable, as they not only improve patient outcomes but also reduce healthcare costs by minimizing adverse effects and enhancing drug efficacy.
Such advancements thus indicate a growing focus on personalized medicine and the integration of artificial intelligence (AI) in drug formulation and manufacturing processes.
Looking ahead, the future perspective of the thin film drug manufacturing market appears promising, with continued innovation and increasing adoption of these technologies expected to drive sustained growth. The market is poised to expand further as pharmaceutical companies invest in research to explore new applications and improve existing formulations.
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What about Thin Film Drug Manufacturing Market Regional Insights?
- North America generated the largest market value in 2023. The region is expected to maintain its dominance during the forecast period as well.
Growing preference for novel drug delivery systems that enhance patient compliance and convenience, increasing incidence of chronic diseases such as cardiovascular disorders, diabetes, and neurological conditions, technological advancements in drug formulation and manufacturing such as improvements in bioavailability and controlled release mechanisms, and growing trend toward non-invasive treatment options are some of the factors driving the thin film drug manufacturing market share.
According to PhRMA Org, more than 5500 companies were engaged in advanced research of drug delivery technologies in 2022. It further states that the major players spent more than US$ 101.0 Bn in innovation of film-coated drug production.
Key Players in Thin Film Drug Manufacturing Industry
Pfizer, Inc., Novartis AG, Wolters Kluwer, Solvay, AbbVie, Sumitomo Pharma Co., Ltd, IntelGenx Corp., NAL Pharma, ZIM Laboratories Limited, Indivior PLC and MonoSol are some of the leading key players operating in the global industry. They are working on developing next-generation therapies in order to address unmet medical needs and enhance the lives of patients.
Recent Key Developments
In July 2023, Redwood Scientific Technologies Inc., a leading pharmaceutical company based in New York (U.S.), announced the filing of a new patent for an advanced Oral Thin Film (OTF) manufacturing system. The innovation highlights Redwood's commitment toward development of revolutionary drug delivery systems.
Thin Film Drug Manufacturing Market Segmentation
Product
- Oral Thin Film
- Sublingual Film
- Fully Dissolving Dental/Buccal Film
- Transdermal Thin Film
- Others (Ocular Thin Film, etc.)
Disease Indication
Schizophrenia
- Migraine
- Opioid Dependence
- Nausea & Vomiting
- Others
Distribution Channel
• Hospital Pharmacies
• Drug Stores
• Retail Pharmacies
• E-commerce
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