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 outbreak of COVID-19 impacted the market. People suffering from schizophrenia and migraine had a higher risk of mortality from COVID-19. For instance, as per the JAMA Psychiatry journal published in January 2021, adults with a schizophrenia spectrum disorder diagnosis were associated with an increased risk for mortality with COVID-19. Furthermore, according to the University of Manchester health data published in December 2021, people with psychotic disorders, such as schizophrenia, were five times more likely to die from COVID-19 and three times more likely to be hospitalized. The same report also stated that among people with COVID-19, those with psychotic or bipolar disorder had the highest rates of infection leading to hospitalization: 35.8% and 37.3%, respectively, compared to 16.6% among those without severe mental illness. Therefore, the demand for oral thins increased during the initial days of the pandemic as it is one of the effective treatments for such conditions. With the advent of the later strains of the virus the demand kept growing further, and it is likely to keep following that trend during the forecast period as well.

The growing burden of target diseases and the advantages associated with thin films are the primary drivers for the market. For instance, according to Parkinson's Foundation 2021, more than 10.0 million people were living with Parkinson's disease globally. The same report also stated that around 1.0 million were living with Parkinson's disease in the United States in 2021. Moreover, the risk of Parkinson's disease increases with age, and thus the increasing aging population around the world is also expected to positively impact the market. Furthermore, according to the 2021 Parkinson's Foundation report, it is expected that by 2030 there will be an increase of 1.2 million people suffering from Parkinson's disease. Oral thins are considered one of the 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.

Drug delivery via oral thin films offer several advantages which are also the major factors driving the market growth. The primary advantages of these films are dosage flexibility and ease of administration. They are also fast-acting and can cause drugs to enter the circulatory system directly by oral and/or sublingual absorption. This prevents the drugs from being exposed to the harsh conditions of the stomach by allowing this drug delivery system to deliver a greater proportion of the active compound per dose. As per the research article titled 'Current Overview of Oral Thin Films,' published in February 2021, oral thin films have other advantages as well. They can be easily administered by patients themselves or their families, especially for dysphagia, geriatric, pediatric, or bedridden patients. They also provide rapid onset of effects in conditions requiring urgent intervention, such as allergic attacks, asthma, and intraoral diseases. Thus, due to the factors mentioned above the market studied is expected to grow during the forecast period.

Pertaining to the demand growth, various companies are developing oral thin films to expand their portfolio. In September 2021, IntelGenx, announced that Exeltis Healthcare S.L launched RIZAPORT, an oral thin film formulation of rizatriptan benzoate, a 5-HT1 receptor agonist and the active drug in Merck & Co.'s Maxalt. This is especially for those who suffer from migraine-related nausea, estimated to be approximately 80% of the total migraine patient population, and for patients suffering from dysphagia. Simillarly, in May 2022, Rapid Dose Therapeutics announced agreements intended to accelerate the development and commercialization of its QuickStripVax orally dissolvable film. The agreements see Oakland Health, operating as RD Therapeutics, take a 5.0% stake in a newly created RDT subsidiary that will be granted the exclusive worldwide license to sell products derived from the IP behind the QuickStripVax. Such products launches will boost the market growth over the forecast period.

On the other hand, technical limitations of oral thin films are likely to impede the market growth in the near future.

Oral Thin Films 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 having to first pass through the gastrointestinal tract. The Oral Thin Films Market is segmented by Product (Sublingual Film and Other Products), Disease Indication (Opioid Dependence, Nausea and Vomiting, and Other Disease Indications), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.