The global thin film drugs market size was valued at USD
7.35 billion in 2020 and is projected to grow from USD 8.16 billion in 2021 to
USD 16.27 billion in 2028, exhibiting a CAGR of 10.5% in the 2021-2028 period.
The Thin Film Drugs Market research report for 2028
highlights the important market trends in the industry. In addition to looking
at entry barriers, sales channels, distributors, and Porter's Five Forces
Analysis, this market analysis also looks at market size, market share, growth
rate, future trends, market drivers, opportunities, challenges, and risks. The
research shows changes in CAGR figures over the market's projection period. The
leading brands or companies are generally accountable for the modifications in
the market landscape through their innovations, product launches, joint
ventures, mergers, and acquisitions, which modify the perception of the
industry's global face.
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This Thin Film Drugs Market Report provides its clients with
authentic data that aids in making important decisions by providing a market
outlook. This report also keeps track of all recent market advancements and
innovations. It provides information on the challenges faced when starting a
business and offers advice on how to deal with impending difficulties.
Major Market Players Profiled in the Report include:
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Market Drivers:
Cannabis-based drug
development to spur growth
The market for thin film drugs is expected to grow in the
coming years as a result of the increasing technological developments taking
place in the area of drug delivery systems. Numerous startup companies are also
funding the creation of cannabis-based medicines. For instance, XPhyto Pharma
anticipates using the thin firm drug delivery method to produce about 13
different medications. As of February 2021, the study is undergoing a Phase II
clinical trial in Europe. Growth could be hampered, though, by the absence of
significant investments in emerging economies.
Segments:
Retail Pharmacy
Segment to Dominate Supported by Simple Drug Access
Based on the product, disease indication, distribution
channels, and geographic regions, our analysts have segmented the market. It is
divided into transdermal film drugs and oral thin film (OTF) drugs based on the
final product. It is divided into opiate dependence, migraine, schizophrenia,
and other conditions based on the disease indication. An example of the
distribution channel criterion is given below:
Hospital pharmacies, retail pharmacies, and other types of
pharmacies are divided according to distribution channels. In 2020, the retail
pharmacy market segment dominated this group by capturing the largest market
share for thin film drugs. Thin film drug delivery models are easily accessible
in retail pharmacies due to their possession of generic molecules, which is
responsible for this growth.
Regional Perspectives:
European growth will
be boosted by government initiatives to develop novel drug delivery systems.
North America:
In terms of revenue, the region brought in 2.66 billion USD in 2020. It is
anticipated to experience significant growth, driven by the rising incidence of
neurological diseases like Alzheimer's and Parkinson's disease in the United
States. According to the Alzheimer's Association, 5.8 million Americans 65
years of age and older had Alzheimer's dementia as of 2020. Growth would also
be aided by the increasing number of schizophrenia cases in the area.
Europe: The
region's expanding research and development efforts to produce thin film
medications will support growth. Along with this, the escalating government
funding and initiatives to develop novel drug delivery systems would speed up
growth.
Asia Pacific:
Due to rising infrastructure spending on healthcare and an ageing population,
the region is expected to experience stable growth. Additionally, the growing
understanding of the advantages of using these drugs would support regional
development.
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Questions Answered in the Thin Film Drugs Market Research
Report
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