The oral thin films market in North America is projected to expand at a high CAGR during the forecast period from 2018 to 2026.
Albany, NY -- (SBWIRE) -- 05/29/2018 -- Oral thin film is considered as an emerging and novel platform for effective drug delivery. They have gained attention in the market as a potential treatment option and in the present scenario, demand for oral thin film is rising across the globe. A recent business and commerce study has been broadcasted to the wide repository of Market Research Hub (MRH), which has detected that the demand for oral thin films is expected to expand at a CAGR of 13.0% from 2018 to 2026. The research study is headlined as "Oral Thin Films Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026", which presents a complete perspective on global market's evolution throughout the above-mentioned forecast period.
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In this 201-page in-depth study, the readers will further gain access to vital information about current trends and future suggestions of the market across various geographies. Some of the prime regions highlighted in the study are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. With an extensive forecast period of 2018-2026, the study analyzes market size based on volume (in tons) and revenue (US$ Mn), considering 2016 as the base year. According to the study projections, the global oral thin films market was valued at US$ 2,100.0 Mn in 2017 and is anticipated to reach over US$ 6,000.0 Mn by 2025.
Factors Fueling Market Growth
Oral thin films are solid dosage forms for fast or sustained release in the oral cavity and are used to treat a wide range of disease indications such as erectile dysfunction, schizophrenia, migraine, opioid dependence, and nausea & vomiting. The demand has been increasing because they are easy to take as compared to oral tablet, do not need water for administration, present a good taste, and improve medication safety by reducing side effects.
As per the report findings, rising development of new products and technological advancements in the manufacturing process of oral thin films. From a geographical standpoint, the oral thin films market in North America is expected to expand at a high CAGR of 13.0% from 2018 to 2026. This growth is primarily attributed to unmet market needs, and high adoption rate of oral thin films in the region.
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Moving further, the study highlights opportunities present in the market on the basis of market segmentation into product, disease indication, and distribution channel. In terms of product, the global oral thin films market has been categorized into sublingual films and fast dissolving dental/buccal films. By distribution channel, the global market has been divided into hospital pharmacies, drug stores, retail pharmacies, and e-commerce. In addition, the research also finds that rising awareness about the latest health care technologies for disease diagnosis and treatment, high purchasing power, and affordability of products are projected to boost demand for oral thin films in various applications.
Moreover, a brief analysis of key players functioning in the global oral thin films has been offered to readers. Key players outlined in the study include Indivior plc, Allergan plc, Sumitomo Dainippon Pharma Co., Ltd., IntelGenx Corp., Pfizer, Inc., Aquestive Therapeutics, Inc., ZIM Laboratories Limited, Novartis AG, NAL Pharma, and Solvay
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