Oral Dissolvable Films Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Oral Dissolvable Films market in 2021

The global oral dissolvable films market is expected to witness significant growth in 2021. The market size in 2021 is estimated to be around USD 1.2 billion. The compound annual growth rate (CAGR) of the oral dissolvable films market for the year 2021 is projected to be approximately 5.4%. This growth is attributed to various factors such as the increasing demand for convenient drug delivery systems, technological advancements in film formulations, and the rising prevalence of chronic diseases.

COVID-19 Impact on the Oral Dissolvable Films Market

The COVID-19 pandemic has had a mixed impact on the oral dissolvable films market. On one hand, the pandemic has led to disruptions in the supply chain, manufacturing operations, and distribution networks, affecting the market adversely. Many companies faced challenges in sourcing raw materials and meeting production targets.

On the other hand, the pandemic has also boosted the demand for oral dissolvable films, especially for medications that can be self-administered at home. Patients were hesitant to visit hospitals or clinics for routine check-ups and medications, leading to an increased preference for oral dissolvable films as a convenient and safe drug delivery option.

Overall, the COVID-19 pandemic has highlighted the importance of innovative drug delivery systems like oral dissolvable films and accelerated their adoption in the market.

Oral Dissolvable Films Dynamics

The oral dissolvable films market is driven by several key dynamics that shape its growth trajectory. One of the major drivers is the increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and neurological disorders, which require regular medication. Oral dissolvable films provide a convenient and patient-friendly way to administer these medications.

Technological advancements in film formulations, such as the use of taste-masking agents, fast-dissolving polymers, and improved drug loading capacities, have also contributed to the growth of the market. These innovations have enhanced the bioavailability and efficacy of drugs delivered via oral dissolvable films.

Moreover, the growing geriatric population worldwide, coupled with the rising demand for pediatric dosage forms, has further boosted the demand for oral dissolvable films. These films are easy to swallow and do not require water for administration, making them ideal for older adults and children.

Segments and Related Analysis

The oral dissolvable films market can be segmented based on technology, dosage form, disease indication, and distribution channel. By technology, the market is categorized into oral dispersible films, sublingual films, and buccal films. Each of these technologies offers unique advantages in terms of drug delivery speed, bioavailability, and patient convenience.

In terms of dosage form, the market is divided into prescription films and over-the-counter (OTC) films. Prescription films are typically used for chronic conditions that require regular medication, while OTC films are available for self-administration without a prescription.

Based on disease indication, the market is segmented into pain management, central nervous system disorders, gastrointestinal disorders, and others. Pain management is one of the leading indications for oral dissolvable films, given the quick onset of action and ease of administration.

In the distribution channel segment, the market is classified into hospital pharmacies, retail pharmacies, online pharmacies, and drug stores. The choice of distribution channel depends on factors such as patient access, convenience, and prescription requirements.

By Region Analysis

The global oral dissolvable films market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is the leading market for oral dissolvable films, driven by the high prevalence of chronic diseases, advanced healthcare infrastructure, and favorable reimbursement policies.

Europe is also a significant market for oral dissolvable films, with countries like Germany, France, and the UK at the forefront of adoption. The Asia Pacific region is witnessing rapid growth in the market, fueled by increasing healthcare expenditure, improving access to healthcare facilities, and a growing awareness of novel drug delivery systems.

Latin America and the Middle East & Africa are emerging markets for oral dissolvable films, with opportunities for market players to expand their presence and tap into the growing demand for convenient drug delivery options in these regions.

Key Market Players and Competitive Landscape

Some of the key players in the global oral dissolvable films market include Zydis, CURE Pharmaceutical, IntelGenx, Aquestive Therapeutics, and Applied Pharma Research. These companies are focusing on product innovation, strategic collaborations, and expansion initiatives to strengthen their market position.

The market is highly competitive, with players investing in research and development activities to introduce new formulations, improve drug efficacy, and enhance patient compliance. Strategic partnerships with pharmaceutical companies, healthcare providers, and research institutions are also common strategies adopted by market players to drive growth and innovation.

Recent Happenings in the Oral Dissolvable Films Market

In recent years, the oral dissolvable films market has witnessed several developments and advancements that have shaped the industry landscape. Companies have launched new products, entered into partnerships, and expanded their market presence to capitalize on the growing demand for oral dissolvable films.

For example, in 2020, Zydis Pharmaceuticals introduced a new line of oral dissolvable films for pain management, leveraging its patented technology for fast drug delivery and enhanced patient compliance. This launch was well-received in the market, driving the company's revenue growth.

Similarly, CURE Pharmaceutical collaborated with a leading pharmaceutical company to develop a novel sublingual film for the treatment of neurological disorders. The partnership aimed to leverage CURE's expertise in formulation development and the partner's manufacturing capabilities to bring the product to market quickly.

Overall, these recent developments reflect the growing interest and investment in the oral dissolvable films market, as companies strive to meet the evolving needs of patients and healthcare providers for innovative drug delivery solutions.