Nutraceutical Oral Thin Films Market: Introduction
- A nutraceutical is a fortified food or food product that provides protection against chronic disease along with physiological benefits. Nutraceuticals may be utilized to support the function or structure of the body, increase life expectancy, delay the aging process, improve health, or prevent chronic diseases. Nutraceuticals that are available in the oral thin films dosage form are known as nutraceutical oral thin films. Highly advanced form of oral solid dosage are nutraceutical oral thin films due to more flexibility and comfort.
- The global nutraceutical oral thin films market can be segmented based on product type, Indication, distribution channel, and region. In terms of product type, the market can be categorized into antioxidants, polyunsaturated fatty acids, prebiotics, probiotics, dietary fiber, and others. Based on indication, the global nutraceutical oral thin films market can be classified into anemia, sickle cell, herpes simplex, suppression, high cholesterol, insomnia, osteoarthritis, others. In terms of distribution channel, the market can be categorized into hospital pharmacies, retail pharmacies, online pharmacies, and others.
Key Drivers, Restrains, and Opportunities of Global Nutraceutical Oral Thin Films Market
- The global market is anticipated to expand at a steady pace due to increased preference for nutraceutical oral thin films. Furthermore, oral dissolving thin film is highly beneficial for psychiatric, geriatric, and pediatric patients since it avoids the risk of suffocation or choking; hence, ensuring patient safety and are easy to administer. Nutraceutical oral thin films dissolve rapidly as compared to other conventional dosage forms. These factors drive the global nutraceutical oral thin films.
- Use of thin films is sometimes limited, largely due to low drug loading capacity for a less potent drug administered at a high dose. Additionally, combining more than one drug concomitantly is a very challenging task in oral thin film formulation, as both the disintegration time as well as the dissolution rate are hindered by the drug in oral films. These attributes hamper the global nutraceutical oral thin films market.
- The whole world is presently struggling with the COVID-19 pandemic. This infection leads to pneumonia, multiple organ failure, severe and acute respiratory disorders, and in severe cases death. The geriatric population is more prone to COVID-19. According to European Review for Medical and Pharmacological Sciences 2020, nutraceuticals can be used as immune-stimulating therapy to fight COVID-19. A combination of elements improve the safety and efficacy and of IL-6 modulatory drugs in the treatment of COVID-19 patients.
- Governments of developing countries are making significant investments to modernize healthcare infrastructure in their respective countries, which is likely to increase access to healthcare. This is expected to increase the awareness regarding nutraceutical oral thin films and drives the market.
North America to Capture Major Share of Global Nutraceutical Oral Thin Films Market
- The global nutraceutical oral thin films market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a dominant share of the global market between 2017 and 2031. This is attributed to an increase in research & development on nutraceutical oral thin films in the region. The market in Europe is projected to expand at a rapid pace from 2021 to 2031. An increase in incidence and mortality rate of chronic diseases, including pneumonia, in emerging markets, such as India and China, is likely to drive the demand for nutraceutical oral thin films in the next few years. Rise in the number of nutraceutical oral thin film manufacturers and favorable government support for raising awareness among people about nutraceutical oral thin films in these countries are anticipated to propel the nutraceutical oral thin films market in Asia Pacific.
Key Players Operating in Global Nutraceutical Oral Thin Films Market
The global nutraceutical oral thin films market is highly concentrated due to the presence of key players. Major manufacturers hold a major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global nutraceutical oral thin films market.
Major players operating in the global nutraceutical oral thin films market are listed below:
- ELMED Life Sciences (P) Limited
- Kingdomway Nutrition, Inc.
- PBM Pharmaceuticals, Inc.
- OLVEA FISH OILS
- Sigma-Tau Pharmaceuticals, Inc.
- Xi'an Henrikang Biotech Co., Ltd.
- Jagdale Industries Pvt. Ltd.
- Haihang Industry
- Wonder Labs
Global Nutraceutical Oral Thin Films Market: Research Scope
Global Nutraceutical Oral Thin Films Market, by Product Type
- Polyunsaturated Fatty Acids
- Dietary Fiber
Global Nutraceutical Oral Thin Films Market, by Indication
- Anemia, Sickle Cell
- Herpes Simplex
- High Cholesterol
Global Nutraceutical Oral Thin Films Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Nutraceutical Oral Thin Films Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.