Oral Thin Film Drugs Market Outlook
The global oral thin film drugs market is estimated to register a robust CAGR of approximately 8.10% during the assessment period, says Market Research Future (MRFR).
Scientists in the pharmaceutical sector have developed a new way of drug delivery through thin films, which are either absorbed or dissolved in the mouth. Because of the speedy termination of OTF drugs, they have gained popularity. The global market for oral thin film drugs has recorded enormous growth in recent years. The growing geriatric population globally is the primary aspect causing an upsurge in market growth. Furthermore, major market leaders’ rising investment in research and development (R&D) is another major factor driving the market’s growth.
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Oral Thin Film Drugs Market Segment Analysis
The global market for oral thin film drugs has been split into numerous segments based on product, distribution channel, and region.
Based on product, the global oral thin film drugs market is divided into migraine, opioid dependence, disease indication, fast-dissolving buccal film, schizophrenia, nausea and vomiting, sublingual, and others.
The global oral thin film drugs market is divided into online drug stores, hospital pharmacies, retail pharmacies, and others based on the distribution channel.
Oral Thin Film Drugs Market Regional Analysis
The global oral thin film drugs market is studied across five major regions, including Asia-Pacific (APAC), the Middle East and Africa (MEA), Europe, North America, and South America.
The MRFR research report suggests that the North American region will secure the top position in the global oral thin film drugs market over the forecasted era. The United States holds the maximum share in the net regional market share. The major portion of the population driving the regional market’s growth is turning toward schizophrenia drug treatments mainly due to rushed ways of life. Furthermore, the country provides strongly developed clinical consideration, for early treatment abilities, along with the association of the public authority in growing medical services consumption is also anticipated to boost the regional oral thin film drugs market growth over the coming years.
Oral Thin Film Drugs Market Competitive Outlook
The global oral thin film drugs market is recognized to have a strong and competitive landscape. The market has witnessed enormous growth in mergers and acquisitions in recent years as the players are focused on growing their global oral thin film drugs market presence. The market players are making heavy investments in R&D activities to stand out in the intense competition across the global oral thin film drugs market. The list of prominent leaders in the global oral thin film drugs market includes Indivior Plc (U.S.), GlaxoSmithKline Plc (U.K.), Novartis AG (Switzerland), Pfizer Inc. (U.S.), LTS Lohmann Therapie-Systeme AG (Germany), CURE Pharmaceutical (U.S.), Johnson and Johnson Services, Inc. (U.S.), and several others.
Recent Developments
IntelGenx Corp. has disclosed that Exeltis Healthcare S.L., the company’s commercialization partner in the European Union (“EU”) for a unique treatment of acute migraines, RIZAPORT®, has launched the product in the Spanish market. RIZAPORT® refers to a patented oral thin film of a 5-HT1 receptor agonist, rizatriptan benzoate, and the active drug in Merck & Co.’s Maxalt®.
Core One Labs Inc. happily announced that Akome Biotech Ltd., its wholly-owned subsidiary, has entered a consulting agreement with the Universitat de Barcelona, Laboratory of Medicinal Chemistry, Faculty of Pharmacy and Food Sciences of Barcelona, Spain. As per the terms of the agreement, a full professor at the University’s Unit of Medicinal Chemistry, Professor Maria Carmen Escolano, and her team will offer technical guidance for the in vitro development of Akome’s psychedelic based bioactive compounds focusing on Parkinson’s Disease, Major Depressive Order, Alzheimer’s Disease., and Stroke.
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a vertically integrated drug delivery and product development company, CURE Pharmaceutical Holding Corp., has disclosed its partnership agreement with Biopharmaceutical Research Company (BRC), an active Drug Enforcement Administration (DEA) license holder, for the production of federally-compliant cannabis-based medical products.
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