According to the report, the global oral transmucosal drugs market was valued over US$ 14 Bn in 2020 and is projected to expand at a CAGR of ~6% from 2021 to 2031.
Oral Transmucosal Drugs Market: Introduction
According to the report, the global oral transmucosal drugs market was valued over US$ 14 Bn in 2020 and is projected to expand at a CAGR of ~6% from 2021 to 2031. Rise in prevalence of neurological disorders and chronic diseases, increase in geriatric population, and adoption of novel drug delivery systems are the key factors anticipated to drive the global oral transmucosal drugs market during the forecast period.
North America held a major share of the global oral transmucosal drugs market in 2020, due to easy availability of products, presence of a large number of suppliers, and higher penetration of oral transmucosal drugs compared to other regions. The oral transmucosal drugs market in Asia Pacific is expected to expand at a high CAGR of 7.9% from 2021 to 2031 due to rise in healthcare expenditure and increase in geriatric population.
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Increase in Incidence of Autoimmune Disorders, Respiratory Problems, Cancer, Mucositis to Drive Global Market
The global oral transmucosal drug market is projected to grow at a rapid pace during the forecast period, owing to increase in incidence of autoimmune disorders, respiratory problems, cancer, and mucositis. The number of people affected by autoimmune disorders, respiratory problems, oral cancer, and mucositis continues to rise across the world. This escalates the need of oral transmucosal drugs, as these are able to prevent gastrointestinal degradation and provide rapid onset of action.
Cancer is one of the leading causes of death globally. The number of people being affected by different types of cancer increases every year. According to the WHO, an estimated 70% of deaths due to cancer occur in lower- and middle-income countries. The number of patients with different chronic diseases is rising rapidly across the world. This is likely to increase pre-surgical procedures such as medication, which, in turn, is anticipated to propel the global oral transmucosal drugs market in the near future.
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High Preference for Tablets
In terms of type, the global oral transmucosal drugs market has been classified into tablets, buccal films, liquid & spray, gels, and others. The tablets segment dominated the global oral transmucosal drugs market in 2020, and the trend is projected to continue during the forecast period. The segment’s dominance can be attributed to high demand for buccal tablets, sublingual tablets, and lozenges in the market.
Buccal Drugs to Drive Global Market
Based on route of penetration, the global oral transmucosal drugs market has been categorized into sublingual mucosa, buccal mucosa, gingival tissues, and palatal tissues. The buccal mucosa segment held major share of the global oral transmucosal drugs market in 2020. The segment’s dominance can be attributed to availability of a large number of buccal drugs, as buccal mucosa offers higher permeability and faster onset of action.
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Retail Pharmacies to be Major Distribution Channel
In terms of distribution channel, the global oral transmucosal drugs market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment dominated the market in 2020, owing to high penetration of retail pharmacies or community pharmacies for dispensing of oral transmucosal drugs.
Rise in Incidence of Acute Pain
Based on indication, the global oral transmucosal drugs market has been segregated into cardiovascular disorders, acute pain management, sedation, erectile dysfunctions, diabetes, and others. The acute pain management segment dominated the market in 2020 due to increase in incidence of acute pain across the world. An article published by the Physiopedia in 2018 stated that one in five adults suffer from pain and one in 10 adults are diagnosed with chronic pain each year globally.
North America to Dominate Global Market, Asia Pacific to Offer Significant Opportunities
In terms of region, the global oral transmucosal drugs market has been segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a leading share of the global oral transmucosal drugs market during the forecast period. High awareness about the benefits of oral transmucosal drugs and availability of the drugs are the major factors driving the market in the region.
The oral transmucosal drugs market in Asia Pacific is likely to grow at a rapid pace in the near future. Rise in R&D investment and surge in healthcare expenditure are anticipated to drive the market in the region. Additionally, increase in geriatric population is likely to propel the oral transmucosal drugs market in the region. According to the world population prospects 2019, the proportion of geriatric population would increase from the 28% in 2019 to 38% by 2050 in Japan.
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Growth Strategies of Key Players
Key players operating in the global oral transmucosal drugs market are LTS Lohmann Therapie-Systeme AG, Soligenix, ZIM Laboratories Limited, Access Pharmaceutical Inc., C.L Pharm, Seoul Pharmaceuticals, Cure Pharmaceutical, Aquestive Therapeutics, Inc., Solvay S.A., NAL Pharma, IntelGenx Corp., Izun Pharmaceuticals, Eisai Co., Ltd, AstraZeneca, Otsuka Pharmaceutical Co., Ltd., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., GlaxoSmithKline plc, Mylan N.V., and Bristol-Myers Squibb Company.
These companies engage in research & development activities to develop novel products in order to expand product offerings and customer base. For instance, in January 2021, Cure Pharmaceutical received the U.S. FDA approval for CUREfilm Blue for the treatment of erectile dysfunction (ED). It increased the commercial opportunity for Cure Pharmaceutical in the U.S.
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