Apr 22, 2021
Demand for Oral Thin Films Banking on Rising Opioid Dependence and Neurological Disorder Burden: Fact.MR
by Team Fact.MR
Award-winning market research company Fact.MR’s report on the oral thin films market forecasts a healthy growth trajectory, expected to surpass US$ 6 billion by 2031. A robust CAGR of approximately 9% is projected for the 2021-2031 forecast period. As oral drug administration continues to remain the most preferred route, the scope for the market is only expected to broaden in the future.
According to Fact.MR, the market is expected to ride the high wave amid extensive applications to treat neurological disorders and opioid dependence. According to the World Health Organization, around 269 million people, or 5.3% of the global population aged 15-64 years, used drugs at least once in 2018. Among them, around 58 million people used opioids, while more than 35 million people suffered from drug use disorders.
Similarly, according to a Global Burden of Disease Study of 2020, the three most burdensome neurological disorders across the U.S. in terms of disability adjusted life years are strokes (3.58 million), Alzheimer’s disease, and other dementias (2.55 million) and migraine (2.4 million). Hence, manufacturers are introducing a slew of oral thin films to address these aforementioned morbidities, thus heightening growth prospects for the market and its players.
Key Takeaways from Market Study
- Sublingual oral films to remain highly preferred product amid high dissolvability rate
- By indication, neurological disorders treatment is poised to make maximum use of oral thin films
- Over-the-counter sales of oral thin films across retail pharmacies to incline, while online pharmacy sales to rise in equal measure
- Extension of patent protection durations of key pharmaceutical formulations heightening oral thin film manufacturing in the U.S.
- The U.K. to experience high uptake of oral thin films, attributed to rising opioid dependence and abuse cases
- Germany to open new growth frontiers amid deepening nanotechnology in drug manufacturing activities
- Increasing efforts to bolster pharmaceutical research heightening France’s growth prospects
“Rapid advancements in oral drug delivery technology with the objective of improving patient outcomes amongst people experiencing swallowing difficulties will broaden the scope of oral thin films in the long-run,” comments the Fact.MR analyst.
Fact.MR’s report on the oral thin films market has profiled the following prominent players: ZIM Laboratories Ltd., Indivior Plc., Aquestive Therapeutics Inc., LIVKON Pharmaceuticals Pvt. Ltd., Shilpa Therapeutics Pvt. Ltd., Sunovion Pharmaceuticals Inc., NAL Pharma, CURE Pharmaceutical, IntelGenx Corp., Dr. Reddy’s Laboratories, Kyu Pharmaceutical Co. Ltd., Seoul Pharma Co. Ltd., and C.L. Pharm.
- In March 2021, CURE Pharmaceutical’s subsidiary Sera Labs launched a robust national advertising campaign for its Nutri-Strips thin-film product titled Sleep A.S.A.PTM across the US. The Sleep A.S.A.PTM is a non-addictive strip that activates on the tongue and delivers efficient sleep agents including Melatonin and GABA. The campaigns seeks to target 70% of American adults who suffer from sleep deprivation, coinciding with the National Sleep Awareness month.
- Also, IntelGenx Corp. completed its first shipment of 75,000 CBD Filmstrips to Heritage Cannabis Holdings Corp. These films are intended purely for medical grade use across Canada. These strips were produced at IntelGenx’s manufacturing facility under Canadian GPP conditions and registered as a product for sale with Health Canada as a cannabis product.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the oral thin films market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of product (sublingual film, fast dissolving oral film, and buccal film), indication (pain management, neurological disorders, nausea & vomiting, opioid dependence, and others), and distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), across five major regions (North America, Latin America, Europe, Asia Pacific, and MEA).
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For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Healthcare
E-mail: [email protected]