Market Trends of Oral Thin Films Industry
This section covers the major market trends shaping the Oral Thin Films Market according to our research experts:
The Sublingual Film Segment is Expected to Witness Considerable Growth Over the Forecast Period
Sublingual administration involves placing a thin film under the tongue. The drug dissolves and is absorbed into the blood through the tissue. The sublingual route is targeted for the delivery of drugs exhibiting high permeability across the mucosa and is commonly utilized for the treatment of acute disorders. Factors such as the growing burden of targeted diseases (including various neurological disorders and other diseases), research and development activities related to oral thin films, product launches, and collaborative and strategic initiatives undertaken by market players are expected to drive the growth of the sublingual film segment over the forecast period.
The various research studies going on to develop sublingual films for various drugs are also driving the segment's growth. For instance, the Future Science Journal article titled "Development and characterization of sublingual films for enhanced bioavailability of selegiline hydrochloride," published in February 2021, concluded that the selegiline hydrochloride film could provide a potential opportunity for sublingual drug delivery. The positive results from such studies could help develop more drugs in the future.
The segment's growth is also boosted by strategic initiatives such as partnerships and agreements between market players to increase their reach in different geographical regions. For instance, in September 2021, Sunovion Pharmaceuticals Inc. entered an agreement with BIAL, a pharmaceutical company. As per the agreement, Sunovion granted BIAL exclusive commercial license rights in Europe for apomorphine sublingual film (APL-130277). It is approved as KYNMOBI for the acute, intermittent treatment of OFF episodes in Parkinson's disease (PD) patients.
Additionally, the launch of new products by different market players in different regions is propelling the market's growth. For instance, in April 2022, BioXcel Therapeutics announced FDA's approval of IGALMI (dexmedetomidine) sublingual film for acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults. Owing to the abovementioned factors, the sublingual films segment of the oral thin films market is expected to grow over the forecast period.
North America is Expected to Witness Significant Growth Over the Forecast Period
North America is expected to dominate the overall oral thin films market over the forecast period. The growth is due to factors such as rising cases of target diseases, increased use of oral thin films owing to their several advantages, and product launches by key players. For instance, according to the JAMA article published in January 2022, 17.1% of women and 5.6% of men reported having migraine symptoms in 2021 in the United States. Furthermore, according to the Migraine Research Foundation journal published in September 2022, more than 39.0 million Americans suffers from migraine every year, while women are three times more likely to get migraine than men. Moreover, according to the report published by the Government of Canada in July 2020 and as per our analysis, schizophrenia is a psychotic disorder that affects about 1.0% of Canadians. Therefore, such instances indicate considerable market growth in this region.
Key product launches, high concentration of market players or manufacturers, acquisition & partnerships among major players, and increasing cases of target diseases in the region are some of the factors driving the growth of the oral thin films market. Furthermore, the ongoing clinical trials are also driving the growth of the market. For instance, as per clinicaltrials.gov, the study titled 'Vitamin D Replacement Using Oral Thin Film (OTF) Cholecalciferol in Patients Undergoing Hematopoietic Stem Cell Transplantation' was started in June 2021 in the United States and is expected to complete by June 2023. The positive results from the clinical trials could lead to the development of new products and thus boost the growth of the market.
In February 2022, Aquestive Therapeutics announced FDA clearance of an investigational new drug application (IND) for AQST-109 epinephrine oral film, and in September 2022, the company announced that it entered into a license and supply agreement for Libervant (diazepam) Buccal Film with Pharmanovia, across the world. Therefore, owing to the aforementioned factors, the growth of the studied market is anticipated in the North American region over the forecast period.
