PUBLISHER: The Business Research Company | PRODUCT CODE: 1620138
PUBLISHER: The Business Research Company | PRODUCT CODE: 1620138
Thin film drug manufacturing involves creating pharmaceutical products as thin, flexible films that dissolve quickly in the mouth. This approach enhances drug absorption and improves patient compliance by offering a convenient and effective delivery method. It is particularly useful for medications that need a rapid onset of action or those that are difficult to swallow.
The primary types of thin film drug manufacturing are oral thin films, transdermal films, and other variations. Oral thin films dissolve on the tongue or inside the mouth, enabling rapid absorption of medication for conditions such as nausea, pain, or mental health disorders. These films are used for various conditions, including schizophrenia, migraines, opioid dependence, and nausea and vomiting. They are distributed through multiple channels, including hospital pharmacies, drug stores, retail pharmacies, and e-commerce platforms.
The thin film drug manufacturing market research report is one of a series of new reports from The Business Research Company that provides thin film drug manufacturing market statistics, including thin film drug manufacturing industry global market size, regional shares, competitors with a thin film drug manufacturing market share, detailed thin film drug manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the thin film drug manufacturing industry. This thin film drug manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The thin film drug manufacturing market size has grown strongly in recent years. It will grow from $7.33 billion in 2023 to $7.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth observed during the historic period can be attributed to increasing patient demand for convenient drug delivery, a rising prevalence of chronic diseases, regulatory approvals for innovative dosage forms, escalating healthcare costs and the need for cost-effective solutions, and improvements in the bioavailability and efficacy of thin film formulations.
The thin film drug manufacturing market size is expected to see strong growth in the next few years. It will grow to $11.28 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth during the forecast period can be attributed to the rising prevalence of chronic conditions, advancements in formulation science and materials engineering, increasing demand for personalized and targeted drug delivery, supportive regulatory pathways and favorable reimbursement policies, and greater adoption of e-commerce for drug distribution. Key trends in this period include the development of smart and responsive drug delivery systems, a focus on combining multiple drugs into a single film, the evolution of more sustainable and eco-friendly manufacturing processes, integration of digital technologies with thin film drug delivery, and innovative solutions for taste masking and enhancing patient experience.
The growing global elderly population is expected to drive the expansion of the thin-film drug manufacturing market. This increase is driven by factors such as longer life expectancies, medical advancements, better nutrition and healthcare, and shifts in family structures and societal norms. Thin-film drug manufacturing addresses the needs of the aging population by providing improved medication adherence, ease of use, precise dosage control, rapid dissolution, and enhanced stability. These features support better management of chronic conditions and overall health in older adults. For example, in January 2024, the Population Reference Bureau, a U.S.-based nonprofit organization, projected that the number of Americans aged 65 and older would rise from 58 million in 2022 to 82 million by 2050. As a result, the increasing elderly population is driving the growth of the thin-film drug manufacturing market.
Leading companies in the thin-film drug manufacturing market are focusing on innovative products, such as oral thin-film technologies, to improve patient compliance and ease of use. Oral thin-film technologies involve creating films that dissolve rapidly in the mouth, delivering medication through the mucous membranes for quick absorption. These films offer a convenient and effective alternative to traditional oral dosage forms such as tablets and capsules. For instance, in April 2023, IntelGenx Corporation, a Canada-based pharmaceutical company, received FDA approval for RIZAFILM, a new formulation for treating acute migraines. This oral thin film dissolves quickly, potentially providing faster relief than traditional tablets, and enhances bioavailability. This innovation improves patient compliance by offering a more convenient and user-friendly option for managing migraine attacks.
In April 2023, DifGen Pharmaceuticals LLC, a US-based pharmaceutical company, acquired Aveva Drug Delivery Services Inc. for an undisclosed amount. This acquisition is intended to boost DifGen's manufacturing capabilities, allowing it to offer complex dosage forms and ensure a reliable local supply of affordable, high-quality medications. Aveva Drug Delivery Services Inc., based in the US, specializes in developing and manufacturing transdermal delivery systems and oral dissolvable films.
Major companies operating in the thin film drug manufacturing market are Novartis AG, Merck KGaA, Dr. Reddy's Laboratories, Indivior PLC, LTS Lohmann Therapie-Systeme AG, Aquestive Therapeutics, Zim Laboratories Ltd, Tapemark, AdhexPharma, MonoSol Rx, Aavishkar Oral Strips Pvt Ltd., APR Applied Pharma Research SA, Cynapsus Therapeutics Inc., Jurata Thin Film Inc., Nova Thin Film Pharmaceuticals LLC, Vektor Pharma TF GmbH, TFF Pharmaceuticals Inc., NAL Pharma, IntelGenx Corp, D.K. Livkon Healthcare Pvt Ltd.
North America was the largest region in the thin film drug manufacturing market in 2023. The regions covered in the thin film drug manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the thin film drug manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The thin film drug manufacturing market consists of sales of buccal films, sublingual films, intranasal films, and topical films. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Thin Film Drug Manufacturing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on thin film drug manufacturing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for thin film drug manufacturing ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The thin film drug manufacturing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.