Oral Thin Film Drugs Market Size

The escalating number of elderly individuals is poised to have a favorable impact on market growth, primarily due to the susceptibility of this demographic to various illnesses like schizophrenia, migraine, opioid dependence, and other conditions. This vulnerability among the aging population is expected to bolster the market significantly. In China, for instance, the China National Committee on Aging noted that in 2014, approximately 185 million people were aged 60 or older, constituting around 15.7% of the population. Forecasts project a surge in this demographic to 487 million by 2053, accounting for 36.5% of the population, thereby contributing to the growth of the market in the Asia-Pacific region and other emerging economies.

The United Nations' World Population Prospects report highlights a global population of approximately 962 million individuals aged 60 and above in 2017, making up roughly 13% of the world's populace. Additionally, the World Health Organization (WHO) estimates a substantial increase in the global population aged 60 years and older, nearly doubling from 12% to 22% by 2050. In the United States, it is anticipated that over 20% of the entire population will be aged 65 years or older by 2030. Moreover, the United Nations predicts that Asia will be home to approximately 857,040 elderly individuals by 2050.

This significant surge in the elderly population is directly impacting the oral thin film drugs market. Older individuals are more susceptible to injuries and various health conditions such as schizophrenia, migraine, opioid dependence, and other diseases, often stemming from compromised immunity. Consequently, their increased hospital visits due to these health concerns are positively influencing market growth.

The expanding demographic of elderly individuals presents a significant opportunity for the oral thin film drugs market. This population subset often faces challenges related to immune system decline, making them more susceptible to various health issues. Conditions like schizophrenia, migraines, opioid dependence, and other illnesses tend to affect them more profoundly, leading to an increased demand for effective pharmaceutical solutions.

In China, the considerable increase in the aging population has spurred a need for improved healthcare and medication tailored to address age-related ailments. As the geriatric populace in China and across the Asia-Pacific region rises, there is a concurrent demand for healthcare products and medications, including oral thin film drugs. The shift towards tailored pharmaceutical solutions that cater specifically to the needs of elderly individuals, particularly in this region, is expected to fuel market growth.

Similarly, in the United States, the substantial growth in the population aged 65 years or older by 2030 is indicative of a rising requirement for medications that address age-related health conditions. With a substantial proportion of the population entering the elderly age bracket, pharmaceutical companies and healthcare providers are increasingly focused on developing innovative drug delivery methods, such as oral thin film drugs, to meet the healthcare needs of this demographic.

Moreover, the anticipated surge in the elderly population across the globe underscores the importance of developing drugs that are not only effective but also easily consumable, especially for individuals with swallowing difficulties or aversion to traditional forms of medication. The introduction of oral thin film drugs provides a viable alternative, ensuring ease of administration and improved compliance among the elderly population, further contributing to market growth.