Oral Thin Films Market Size (2024 - 2029)

Oral Thin Films Market Analysis

The Oral Thin Films Market size is estimated at USD 3.01 billion in 2024, and is expected to reach USD 4.75 billion by 2029, growing at a CAGR of 9.56% during the forecast period (2024-2029).

The growing burden of target diseases and the advantages associated with thin films are the primary drivers for the oral thin films market. For instance, in August 2023, an article published in the Frontiers in Molecular Neuroscience mentioned that more than 10.0 million people were living with Parkinson's disease globally. Additionally, in December 2022, the Parkinson's Foundation reported that the new study represented a 50% higher incidence of Parkinson's disease in the United States, with 90,000 diagnoses each year as compared to the earlier year's estimates of 60,000 annual diagnoses. Moreover, the risk of Parkinson's disease increases with age; thus, the rising aging population worldwide is also expected to impact the market positively. Furthermore, it is likely that by 2030, there will be an increase of 1.2 million people who have Parkinson's disease. Oral thin films are considered one of the most effective treatments for Parkinson's disease. Therefore, the increasing prevalence of Parkinson's disease is anticipated to propel the demand for oral thins, thereby surging market growth over the coming years.

Drug delivery via oral thin films offers several advantages, which are the major factors driving market growth. For instance, in July 2023, an article published in the Journal of Pharmaceuticals mentioned various advantages of oral thin films used for mental disorders, such as faster disintegration and dissolving ability in the oral cavity, quicker onset action through oral mucosa, and flexible packaging, which facilitates transportation and storage and accuracy in the administration of dose and easy swallowing. They directly cause drugs to enter the circulatory system through oral and sublingual absorption. This prevents the medication from being exposed to the harsh conditions of the stomach by allowing this drug delivery system to deliver a more significant proportion of the active compound per dose. Thus, due to the abovementioned factors, the market studied is expected to grow during the forecast period.

To cater to the growth in demand, various companies are developing oral thin films to expand their portfolio. For instance, in September 2023, Gensco Pharma, in collaboration with IntelGenx, launched RizaFilm, an oral dissolvable film formulation of rizatriptan available for treating acute migraine. Similarly, in May 2022, Rapid Dose Therapeutics announced agreements to accelerate the development and commercialization of its QuickStripVax orally dissolvable film. The agreements resulted in Oakland Health, operating as RD Therapeutics, taking a 5.0% stake in a newly created RDT subsidiary that would be granted the exclusive worldwide license to sell products derived from the IP behind the QuickStripVax. Such product launches are expected to boost market growth over the forecast period.

On the other hand, the technical limitations of oral thin films are likely to impede market growth for a short period over the coming years.

Oral Thin Film Industry Segmentation

As per the scope, oral thin films (OTF) are thin, flexible films targeted for drug delivery. The thin films are taken orally and dissolve immediately in the mouth or are applied to the mucosa. For transmucosal films, the active substance enters the bloodstream directly via the oral mucosa without first passing through the gastrointestinal tract.

The oral thin films market is segmented by product, disease indication, distribution channel, and geography. By product, the market is segmented into sublingual film and other products. By disease indication, the market is segmented into opioid dependence, nausea and vomiting, and other disease indications. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and other distribution channels. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. For each segment, the market size is provided in terms of value (USD).