Strategic Opportunities in Thin Film Drug Manufacturing Market to Expand to USD 16.5 Billion by 2034, Driving Industry Growth | Transparency Market Research Inc.
Thin Film Drug Manufacturing Revolutionizes Medication Delivery for Rapid and Convenient Absorption.
Wilmington, Delaware, United States, Transparency Market Research, Inc. , Aug. 21, 2024 (GLOBE NEWSWIRE) — As per the report published by Transparency Market Research, the global thin film drug manufacturing market (박막 의약품 제조 시장) was worth US$ 6.4 Billion in 2023 and is expected to reach
What about Thin Film Drug Manufacturing Market Regional Insights?
- North America generated the largest market value in 2023. The region is expected to maintain its dominance during the forecast period as well.
Growing preference for novel drug delivery systems that enhance patient compliance and convenience, increasing incidence of chronic diseases such as cardiovascular disorders, diabetes, and neurological conditions, technological advancements in drug formulation and manufacturing such as improvements in bioavailability and controlled release mechanisms, and growing trend toward non-invasive treatment options are some of the factors driving the thin film drug manufacturing market share.
According to PhRMA Org, more than 5500 companies were engaged in advanced research of drug delivery technologies in 2022. It further states that the major players spent more than US$ 101.0 Bn in innovation of film-coated drug production.
Key Players in Thin Film Drug Manufacturing Industry
Pfizer, Inc., Novartis AG, Wolters Kluwer, Solvay, AbbVie, Sumitomo Pharma Co., Ltd, IntelGenx Corp., NAL Pharma, ZIM Laboratories Limited, Indivior PLC and MonoSol are some of the leading key players operating in the global industry. They are working on developing next-generation therapies in order to address unmet medical needs and enhance the lives of patients.
Recent Key Developments
In July 2023, Redwood Scientific Technologies Inc., a leading pharmaceutical company based in New York (U.S.), announced the filing of a new patent for an advanced Oral Thin Film (OTF) manufacturing system. The innovation highlights Redwood’s commitment toward development of revolutionary drug delivery systems.
Thin Film Drug Manufacturing Market Segmentation
Product
- Oral Thin Film
- Sublingual Film
- Fully Dissolving Dental/Buccal Film
- Transdermal Thin Film
- Others (Ocular Thin Film, etc.)
Disease Indication
Schizophrenia
- Migraine
- Opioid Dependence
- Nausea & Vomiting
- Others
Distribution Channel
• Hospital Pharmacies
• Drug Stores
• Retail Pharmacies
• E-commerce
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