Dublin, March 12, 2024 (GLOBE NEWSWIRE) -- The "Global Oral Transmucosal Drugs Market by Product Type, Route of Administration, Indication, Distribution Channel, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global oral transmucosal drugs market is poised for substantial growth in the coming years. Industry analysis forecasts the market, which was valued at an impressive USD 16.24 billion in 2023, to more than double, reaching an estimated USD 35.65 billion by 2034. This expansion is anticipated to occur at a compound annual growth rate (CAGR) of 7.41% between 2024 and 2034.
Several key factors are contributing to this robust market growth. The increasing incidence of chronic illnesses worldwide is driving the demand for more effective drug delivery systems, such as oral transmucosal forms, which offer rapid action and improved absorption. Technological advancements in drug delivery technology, incorporating innovations like dissolvable films and mucoadhesive gels, have significantly bolstered the market's potential.
Analyzed across various segments, the tablets category currently leads the market due to the ease of use and patient familiarity with this mode of drug delivery. Additionally, innovations within this segment, such as rapidly dissolving and effervescent tablets, have made it even more popular among consumers.
The report also highlights the prominence of the sublingual mucosa route of administration, which generates substantial market revenue. Its effectiveness is supported by the dense network of blood vessels under the tongue, fostering quick absorption and rapid onset of action for administered drugs.
Market Outlook Across Indications and Distribution Channels
- The neurological disorders segment is identified as a significant revenue contributor due to the pressing need for effective, fast-acting treatments for conditions like migraines and epilepsy.
- Retail pharmacies remain the leading distribution channel, offering easy access for patients to obtain medications although online pharmacies are projected to show the fastest growth rate due to the rising trend of e-pharmacy.
Regional analysis indicates that North America continues to dominate the market on account of its sophisticated healthcare systems and high consumer awareness. Meanwhile, the Asia-Pacific region is expected to exhibit the fastest regional growth, propelled by developments in healthcare infrastructure and an aging population.
Companies Mentioned
- Indivior PLC
- F. Hoffmann-La Roche Ltd.
- Novartis AG
- Pfizer Inc.
- Mylan N.V.
- Eli Lilly and Company
- GlaxoSmithKline plc (GSK)
- Cipla Limited
- Teva Pharmaceutical Industries Ltd.
- Mundipharma International Limited
- Becton, Dickinson and Company
- Insys Therapeutics Inc.
- Midatech Pharma PLC
- Galena Biopharma Inc.
- Cipher Pharmaceuticals Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $16.24 Billion |
| Forecasted Market Value (USD) by 2034 | $35.65 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/7tfevc
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