Global Thin Film Drug Manufacturing Market: Snapshot
The thin film drugs were recorded with high market acceptance due to its ease of application and high effectiveness. Moreover, developed economies such as the U.S. and countries in Europe recorded significant sale of thin film drugs. Thin film drugs achieve the desired therapeutic results. Therefore, they have gained attention in the market as a potential treatment option. According to the research report, the global thin film drug manufacturing market is expected to be worth US$15,984.3 mn by the end of 2024 from US$7,337.8 mn in 2015. During the forecast years of 2016 and 2024, the global market is projected to exhibit a CAGR of 9.0%.
Demand for thin film drugs is increasing globally, leading to considerable research and development activities in the segment. The Journal of Controlled Release 2015 stated the market for oral thin film products exists with around 10 prescription products and around 29 such thin film products under clinical trials. Thus, the thin film drug manufacturing market is anticipated to expand considerably during the forecast period.
Oral Thin Films to Remain Popular due to Ease of Handling
On the basis of product type, the global thin film drug manufacturing market is segmented into oral thin film, transdermal thin film, and others such as ocular thin film among others. The report indicates that the oral thin film segment will be the most promising one as it comes with maximum advantages. These films deliver drugs through the oral mucosa and are known for ease of transportation, skipping the hepatic first pass effect, convenience of handling, and quick onset of action. In light of these benefits, the oral thin film segment is likely to surge at a significant CAGR of 18.3% between 2016 and 2024. Soaring revenue of this segment is attributable to the growing number of clinical trials and higher number of prescription products. On the other hand, the transdermal thin film segment is also poised to emerge with a substantial share in the global market by the end of the forecast period.
North America Emerges as Leading Regional Market
By geography, global thin film drug manufacturing market has been segmented into North America, Europe, Asia Pacific, Latin America, the and Middle East and Africa. In 2016, North America and Europe accounted for the largest share of the thin film drug manufacturing market. The U.S. dominated the thin film drug manufacturing market in North America, accounting for around 85.3% share in 2016. This dominance is majorly due factors such technological advancements in pharmaceutical research with rising demand of novel drug delivery. The extensive investments in research and development are also likely to benefit the regional market. However, Europe is saturated and growing at slow steady rate while Asia Pacific is anticipated to witness the fast growth during the forecast period with major contribution of countries such as India, Japan and China. New product launches with broaden applications, favorable regulations, and growing awareness are likely to drive the market in Asia Pacific during the forecast period.
Some of the key players in the global thin film drug manufacturing market are Pfizer, Inc., Novartis AG, Wolters Kluwer, Solvay, Allergan plc. Sumitomo Dainippon Pharma Co., Ltd., IntelGenx Corp. The global thin film drug manufacturing market is dominated only by few players, which makes the competitive landscape highly consolidated.
Global Thin Film Drug Manufacturing Market: Overview
This report on thin film drug manufacturing market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture, commercialization, providing services of thin film drug manufacturing products such as oral thin film, transdermal thin film and others as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered in the scope of the study. This section also provides the overall information and data analysis of the global thin film drug manufacturing market with respect to the leading market segments based on major disease indication segment, products segment, distribution channels, and geographies.
Global Thin Film Drug Manufacturing Market: Segmentation
Based on the product type, the thin film drug manufacturing market has been segmented into: oral thin film, transdermal thin film and others. Each of the market segments have been extensively analyzed based on the market related factors such as increasing demand of thin film drug manufacturing products worldwide, and technological advancement. Moreover, historical year-on-year growth have been taken into consideration while estimating the market size. The market size and forecast in terms of US$ million for each segment has been provided for the period from 2014 to 2024. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2016 to 2024, considering 2015 as the base year.
Global Thin Film Drug Manufacturing Market: Drivers and Trends
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the thin film drug manufacturing market and could influence the market in the near future. Market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market across different geographies. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global thin film drug manufacturing market.
Global Thin Film Drug Manufacturing Market: Regional Outlook
Geographically, thin film drug manufacturing market has been segmented into five major regions: North America, Europe, Asia, Latin America, and Middle East and Africa. The market size and forecast for each of these regions has been provided for the period from 2014 to 2024, along with their respective CAGRs for the forecast period from 2016 to 2024, considering 2015 as the base year. The report also provides with market size and forecast for major countries in the respective regions. A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section. This section of the report also provides with market attractiveness analysis, Porter’s five forces analysis, and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global thin film drug manufacturing market.
Key Players Mentioned in this Report are:
The key findings section included in the report would assist existing market players in expanding their market shares, and new companies in establishing their presence in the global thin film drug manufacturing market. The report also profiles key players operating in the thin film drug manufacturing market which are Pfizer, Inc., Novartis AG, Allergan plc, Wolters Kluwer, Solvay, IntelGenx Corp., Sumitomo Dainippon Pharma Co., Ltd., Indivior plc and ZIM Laboratories Limited
The global thin film drug manufacturing market is segmented as follows:
Global Thin Film Drug Manufacturing Market, by Product Type
- Oral Thin Film
- Sublingual Film
- Fully Dissolving Dental/Buccal Film
- Transdermal Thin Film
- Others (ocular thin film, etc.)
Global Thin Film Drug Manufacturing Market, by Disease Indication
- Opioid Dependence
- Nausea & Vomiting
Global Thin Film Drug Manufacturing Market, by Geography
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America (LATAM)
- Rest of LATAM
- Middle East & Africa
- South Africa
- Saudi Arebia
- Rest of MEA