Increasing Patient Compliance of Oral Thin Films Market
The global oral thin films market is estimated to be valued at US$ 2895.55 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: The oral thin films market is growing at a CAGR of 5.1% during the forecast period which indicates strong demand. Oral thin films provide immediate drug delivery and are easy to carry and consume without water. This makes them very convenient for on-the-go medication intake. They also have better patient compliance compared to conventional tablets.
Weakness: Oral thin films have lower drug loading capacity compared to tablets which limits their use for medications requiring high dosage. Their efficacy also depends highly on factors like humidity which can affect drug release. Additionally, the manufacturing process of oral thin films is complex and requires specialized equipment.
Opportunity: The market provides opportunities to develop oral thin films for new drug molecules and over the counter medications. Technologies allowing flexible drug loading capacities without compromising stability can capture larger market share. Emerging economies with large patient pools offer high growth opportunities.
Threats: Stringent regulatory approvals for new drug molecules delay product launches. Limited intellectual property protection for formulation technologies increases competition. Drug substitution trends pose pricing pressures in developed regions.
Key Takeaways
The Global Oral Thin Films Market Growth is expected to witness high over the forecast period. Technological advancements to improve drug loading capacities while maintaining desired drug release profiles will boost the market. The global oral thin films market is estimated to be valued at US$ 2895.55 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030.
Regional analysis shows that North America currently dominates due to presence of major players and higher adoption of innovative drug delivery systems. Europe and Asia Pacific are fastest growing markets due to increasing healthcare investments and expansion of pharmaceutical industries in these regions.
Key players operating in the oral thin films market are ANDRITZ, Thyssenkrupp, GEA Group Aktiengesellschaft, Metso, FLSmidth, Buhler Holding AG, Anivi, Carrier Vibrating Equipment, Inc., Mitchell Dryers Ltd, Yamato Sanko Co., Ltd., Kerone Engineering Solutions, Ventilex, FEECO International, Inc, GEM MACHINERY & ALLIED INDUSTRIES, Glatt GmbH, Binzen, Cadworks India Pvt. Ltd., and FEECO International, Inc. These players are focusing on new product launches, expansion in emerging markets and partnerships for sustained growth in the dynamic oral thin films market.
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