ORAL THIN FILMS MARKET ANALYSIS

The global oral thin films market is facing various challenges such as patent expirations of major drugs, surge in generics competition and rising costs of new drug development. Additionally, poor drug absorption of oral thin films for lipid-based formulations and lack of awareness among consumers about these films have hindered the market growth. High prices of thin film manufacturing equipment and R&D costs associated with drug delivery through oral thin films pose significant challenges for new players in this market. In February 2020, according to an article by contract pharma, the oral thin films (OTF) market faces challenges from expiring patents on major drugs and high costs of new drug development. Reformulating drugs for OTF delivery are becoming harder with more patents expiring. Developing new OTF formulations is costly, compounded by stringent regulations and patent expirations. Dr. Shanmugam emphasizes the need for specialized expertise and a targeted approach to OTF development to overcome these hurdles. Innovative strategies and robust R&D are crucial for sustaining the oral thin film market growth.

Market Opportunities: Strategic alliance and collaboration opportunities

Strategic actions like alliances and agreements amongst industry participants to broaden their presence in various geographic areas also contribute to the segment's growth. For instance, Sunovion Pharmaceuticals Inc., global biopharmaceutical company and BIAL, a pharmaceutical business, signed a deal in September 2021. According to the terms of the deal, Sunovion Pharmaceuticals Inc. gave BIAL the sole right to commercially license the apomorphine sublingual film (APL-130277) in Europe for the acute, intermittent treatment of episodes in people with Parkinson's disease (PD), it is approved under the brand name KYNMOBI.