Market Size of Global Thin Film Drugs Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thin Film Drugs Market Analysis
The thin film drug market studied was projected to grow with a CAGR of nearly 9.3% over the forecast period.
COVID-19 had a significant impact on the growth of the market during the pandemic period. The demand for thin film products was notably affected due to the launch of innovative and advanced technologies for the treatment of COVID-19 disease. For instance, in May 2022, Thin Film Freezing Pharmaceuticals delivered a platform presentation with data on stabilizing and delivering antivirals, antibodies, and vaccines using thin film freezing technology in the fight against COVID-19 and other viral infections. Thus, the pandemic outbreak led to the introduction of advanced technologies, thereby significantly impacting the market growth during the pandemic period. In addition, the demand for thin film drugs is expected to remain intact owing to the rising focus on treating various chronic disorders, thereby contributing to the market's growth over the forecast period.
The increasing prevalence of diseases such as migraine, schizophrenia, opioid dependence, and others, along with rising demand for effective thin film drugsOpioid, are expected to contribute to the market's growth. For instance, the article published by DN article in January 2022 states that 1 in 7 people worldwide suffers from migraine annually, and 14.7% of people worldwide had migraine in 2021. The same source also mentioned that around 2% of the world's population suffers from chronic migraines annually. Similarly, according to the NCBI article published in June 2022, Opioid use disorders affect over 16 million people worldwide annually. Such increasing prevalence of migraine and Opioids prevalence is expected to drive the demand for thin film drugs, thereby contributing to the market's growth.
Furthermore, the growing investments in research and development of thin film drugs are expected to boost the market growth. For instance, in November 2022, Jurata Thin Film raised initial investment funds totaling USD 4.87 million to develop the thin film drug technology. The funds raised in this investment supported the design and built a pilot-scale manufacturing line capable of fabricating over 1,000 doses of biologic-loaded thin films per hour.
However, the availability of substitute drugs is expected to hinder pharmaceutical companies' market growth over the forecast period.
