The fast melt tablets market is experiencing rapid growth and is projected to continue expanding in the coming years. SkyQuest’s research report is a comprehensive market analysis and provides valuable insights for industry participants. The report covers various market aspects, including production costs, major players, supply chain analysis, product lines, and market segmentation. This makes it a reliable resource for businesses and investors looking to make informed decisions.
Westford USA, March 02, 2023 (GLOBE NEWSWIRE) — North America is dominant in the fast melt tablets market, with the trend followed by Europe. The rise in chronic diseases, such as diabetes, hypertension, and asthma, has increased the demand for fast melt tablets. Another important driver for the market is the growing trend towards self-medication and over-the-counter (OTC) drugs. In addition, the development of new excipients and technologies, such as freeze-drying, has enabled the production of fast melt tablets with improved taste and stability, increasing their acceptance among patients.
As per the latest report by SkyQuest, the pharmaceuticals market is poised for significant growth, with a projected value of US 14068.6 billion by 2028. It indicates a positive growth outlook for various industry segments, including fast melt tablets. Moreover, the fast melt tablets market is expected to grow due to increasing demand for self-administered drugs and the need for efficient drug delivery methods.
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- Pages – 268
- Tables – 90
- Figures – 72
A fast melting tablet is a solid oral dosage form designed to dissolve quickly in the mouth without the need for chewing or water. These tablets are also known as fast or mouth-dispersing tablets and have been developed to cater to the needs of individuals who are on the go or may have difficulty swallowing pills. Fast melting tablets offer several advantages over traditional tablets, as they are easy to consume and do not require water or other liquids.
Prominent Players in Fast Melt Tablets Market
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Novartis AG
- Johnson & Johnson Services Inc.
- AstraZeneca PLC
- Merck & Co., Inc.
- Pfizer Inc.
- Bayer AG
- GlaxoSmithKline plc.
- Dr. Reddy’s Laboratories Ltd.
- Eli Lily and Company
- Takeda Pharmaceutical Company Limited
- Bausch Health
- Kissei Pharmaceutical Co. Ltd.
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Hospital Pharmacies Segment to Register Swift Growth Thanks to Medications Improving Patient Compliance at Hospital Settings
The hospital pharmacies segment is anticipated to capture the most significant share of the fast melt tablets market in 2022 and is projected to witness high growth from 2023 to 2030. Hospital pharmacies are one of the major distribution channels for fast melt tablets, particularly for patients who require immediate medical attention. The hospital pharmacies segment is also expected to witness high growth in the coming years due to healthcare providers’ increasing adoption of fast melt tablets. As more hospitals and medical facilities recognize the benefits of fast melt tablets, the demand for these products in the hospital pharmacies segment will likely increase, driving the market growth.
The fast melt tablets market in North America accounted for the largest share of 42% in 2021. Such swift regonal growth can be attributed to several factors, including the presence of numerous players in the market and the increasing geriatric population in the region. In addition, the North American market is home to several key players in the fast melt tablets industry, who are constantly developing and launching innovative products. This has contributed to the market’s growth, as consumers have a wide range of options. Additionally, the frequent approvals by the US FDA for new and innovative products have further boosted the market growth in the region.
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Anti-Psychotics Segment to Drive Higher Sales owing to Rising Consumption of Fast Melt Tablets among Patients Requiring Anti-Psychotic Medications
The anti-psychotics segment emerged as the top revenue generator in the fast melt tablets market in 2021. This is attributed to the increasing prevalence of mental health disorders, including schizophrenia and bipolar disorder, and the growing demand for effective treatments. The dominance of the anti-psychotics segment is expected to continue from 2023 to 2030. This is due to the increasing incidence of mental health disorders globally and the rising awareness and acceptance of mental health treatments. As more people required such treatment for mental health conditions, the demand for fast melt tablets in the anti-psychotics segment is likely to increase, driving the market growth.
According to recent projections, Europe is expected to witness significant growth in the fast melt tablets market by 2030. This growth is attributed to several factors, including the increasing aging population in the region and the expansion of product promotion aimed at increasing awareness of patient care. In addition to the aging population, the market growth in Europe is also driven by the increased promotion of fast melt tablets to raise consumer awareness of patient care. As more people become well aware of the key benefits of fast melt tablets, the demand for these products will likely increase, leading to further market growth.
SkyQuest has released an extensive research report on the fast melt tablets market, comprehensively analyzing the market and its competitive landscape. This report is a valuable resource for stakeholders looking to make informed decisions in the industry. In addition, the report offers detailed information on each player, including their market share, product portfolio, revenue, and recent developments.
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Key Developments in Fast Melt Tablets Market
- Melt Pharmaceuticals, Inc. has completed the dosing of the last patient in its Phase 2 clinical trial for its lead product candidate, MELT-300. The company is focused on developing innovative solutions for procedural sedation and analgesia, particularly for cataract surgery. MELT-300 is a patented sublingual formulation that does not require needles or opioids to provide effective sedation and pain relief during the procedure. As a result, MELT-300 has the potential to significantly improve patient outcomes while minimizing the risks associated with opioid use.
- Miravo Healthcare, a Canadian healthcare company with a broad range of commercial products and a global presence, has announced the launch of Blexten for pediatric use. The product will be available for patients aged four years and above through its wholly-owned subsidiary, Aralez Pharmaceuticals Canada Inc. Blexten, a medication used to treat the symptoms of allergic rhinitis and chronic spontaneous urticaria (hives). The medication contains bilastine, a potent antihistamine that reduces allergic reactions. The launch of Blexten for pediatric use is expected to relieve children suffering from these conditions.
- Triastek, a Chinese pharmaceutical and 3D printing technology firm, has achieved a significant milestone. Its first 3D-printed drug product, T19, has received Investigational New Drug approval from the U.S. Food and Drug Administration (FDA). The drug product was manufactured using Triastek’s innovative Melt Extrusion Deposition (MED) technology platform. The company also holds global intellectual property (I.P.) rights to the 3D printed formulation. Triastek’s innovative approach to drug manufacturing has the potential to significantly reduce the time and cost associated with traditional drug manufacturing methods.
Key Questions Answered in Fast Melt Tablets Market Report
- What are the specific factors identified as potential drivers of growth in the market, and how much impact are they expected to have during the forecast period?
- In what ways is the current market environment affecting the overall growth of the global market, and what are the primary trends driving this growth?
- Which geographical regions are anticipated to experience the most significant expansion in the global market, and what factors are contributing to this growth in these areas?
- How have the top industry players influencing the market’s future outlook and overall growth trajectory, and what strategies have they employed to achieve this?
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