
Thin Film Drugs Industry Research Report 2025
Description
Summary
Thin-film drug delivery uses a dissolving film or oral drug strip to administer drugs via absorption in the mouth and/or via the small intestines. A film is prepared using hydrophilic polymers that rapidly dissolves on the tongue or buccal cavity, delivering the drug to the systemic circulation via dissolution when contact with liquid is made.
According to APO Research, The global Thin Film Drugs market was valued at US$ million in 2024 and is anticipated to reach US$ million by 2031, witnessing a CAGR of xx% during the forecast period 2025-2031.
North American market for Thin Film Drugs is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Asia-Pacific market for Thin Film Drugs is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Europe market for Thin Film Drugs is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
The major global companies of Thin Film Drugs include GSK, LTS, J&J, Indivior, Pfizer, Sanofi, Church & Dwight, tesa Labtec and Tapemark, etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Thin Film Drugs, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Thin Film Drugs.
The Thin Film Drugs market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Thin Film Drugs market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
Key Companies & Market Share Insights
In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2020-2025. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.
Thin Film Drugs Segment by Company
GSK
LTS
J&J
Indivior
Pfizer
Sanofi
Church & Dwight
tesa Labtec
Tapemark
Prestige Bands
Sun Pharma
MonoSol
BioDelivery
Arx
ZIM
NAL Pharma
AdhexPharma
Aavishkar
IntelGenx Corp
APR
Thin Film Drugs Segment by Type
Transdermal Film
Oral Thin Film
Others
Thin Film Drugs Segment by Application
Hospitals
Drugstores
Others
Thin Film Drugs Segment by Application
Hospitals
Drugstores
Others
Thin Film Drugs Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Russia
Netherlands
Nordic Countries
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Saudi Arabia
Israel
United Arab Emirates
Turkey
Iran
Egypt
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Thin Film Drugs market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Thin Film Drugs and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Thin Film Drugs.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Provides the analysis of various market segments product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 6: Detailed analysis of Thin Film Drugs companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 7, 8, 9, 10, 11: North America, Europe, Asia Pacific, South America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 12: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including revenue, gross margin, product introduction, recent development, etc.
Chapter 13: The main points and conclusions of the report.
Please Note: Single-User license will be delivered via PDF from the publisher without the rights to print or to edit.
Thin-film drug delivery uses a dissolving film or oral drug strip to administer drugs via absorption in the mouth and/or via the small intestines. A film is prepared using hydrophilic polymers that rapidly dissolves on the tongue or buccal cavity, delivering the drug to the systemic circulation via dissolution when contact with liquid is made.
According to APO Research, The global Thin Film Drugs market was valued at US$ million in 2024 and is anticipated to reach US$ million by 2031, witnessing a CAGR of xx% during the forecast period 2025-2031.
North American market for Thin Film Drugs is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Asia-Pacific market for Thin Film Drugs is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
Europe market for Thin Film Drugs is estimated to increase from $ million in 2025 to reach $ million by 2031, at a CAGR of % during the forecast period of 2025 through 2031.
The major global companies of Thin Film Drugs include GSK, LTS, J&J, Indivior, Pfizer, Sanofi, Church & Dwight, tesa Labtec and Tapemark, etc. In 2024, the world's top three vendors accounted for approximately % of the revenue.
Report Scope
This report aims to provide a comprehensive presentation of the global market for Thin Film Drugs, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Thin Film Drugs.
The Thin Film Drugs market size, estimations, and forecasts are provided in terms of revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. This report segments the global Thin Film Drugs market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.
Key Companies & Market Share Insights
In this section, the readers will gain an understanding of the key players competing. This report has studied the key growth strategies, such as innovative trends and developments, intensification of product portfolio, mergers and acquisitions, collaborations, new product innovation, and geographical expansion, undertaken by these participants to maintain their presence. Apart from business strategies, the study includes current developments and key financials. The readers will also get access to the data related to global revenue, price, and sales by manufacturers for the period 2020-2025. This all-inclusive report will certainly serve the clients to stay updated and make effective decisions in their businesses.
Thin Film Drugs Segment by Company
GSK
LTS
J&J
Indivior
Pfizer
Sanofi
Church & Dwight
tesa Labtec
Tapemark
Prestige Bands
Sun Pharma
MonoSol
BioDelivery
Arx
ZIM
NAL Pharma
AdhexPharma
Aavishkar
IntelGenx Corp
APR
Thin Film Drugs Segment by Type
Transdermal Film
Oral Thin Film
Others
Thin Film Drugs Segment by Application
Hospitals
Drugstores
Others
Thin Film Drugs Segment by Application
Hospitals
Drugstores
Others
Thin Film Drugs Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Russia
Netherlands
Nordic Countries
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Saudi Arabia
Israel
United Arab Emirates
Turkey
Iran
Egypt
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Thin Film Drugs market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Thin Film Drugs and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Thin Film Drugs.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Provides the analysis of various market segments product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 6: Detailed analysis of Thin Film Drugs companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 7, 8, 9, 10, 11: North America, Europe, Asia Pacific, South America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 12: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including revenue, gross margin, product introduction, recent development, etc.
Chapter 13: The main points and conclusions of the report.
Please Note: Single-User license will be delivered via PDF from the publisher without the rights to print or to edit.
Table of Contents
130 Pages
- 1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
- 2 Market Overview
- 2.1 Product Definition
- 2.2 Thin Film Drugs by Type
- 2.2.1 Market Value Comparison by Type (2020 VS 2024 VS 2031)
- 2.2.2 Transdermal Film
- 2.2.3 Oral Thin Film
- 2.2.4 Others
- 2.3 Thin Film Drugs by Application
- 2.3.1 Market Value Comparison by Application (2020 VS 2024 VS 2031)
- 2.3.2 Hospitals
- 2.3.3 Drugstores
- 2.3.4 Others
- 2.4 Assumptions and Limitations
- 3 Thin Film Drugs Breakdown Data by Type
- 3.1 Global Thin Film Drugs Historic Market Size by Type (2020-2025)
- 3.2 Global Thin Film Drugs Forecasted Market Size by Type (2026-2031)
- 4 Thin Film Drugs Breakdown Data by Application
- 4.1 Global Thin Film Drugs Historic Market Size by Application (2020-2025)
- 4.2 Global Thin Film Drugs Forecasted Market Size by Application (2026-2031)
- 5 Global Growth Trends
- 5.1 Global Thin Film Drugs Market Perspective (2020-2031)
- 5.2 Global Thin Film Drugs Growth Trends by Region
- 5.2.1 Global Thin Film Drugs Market Size by Region: 2020 VS 2024 VS 2031
- 5.2.2 Thin Film Drugs Historic Market Size by Region (2020-2025)
- 5.2.3 Thin Film Drugs Forecasted Market Size by Region (2026-2031)
- 5.3 Thin Film Drugs Market Dynamics
- 5.3.1 Thin Film Drugs Industry Trends
- 5.3.2 Thin Film Drugs Market Drivers
- 5.3.3 Thin Film Drugs Market Challenges
- 5.3.4 Thin Film Drugs Market Restraints
- 6 Market Competitive Landscape by Players
- 6.1 Global Top Thin Film Drugs Players by Revenue
- 6.1.1 Global Top Thin Film Drugs Players by Revenue (2020-2025)
- 6.1.2 Global Thin Film Drugs Revenue Market Share by Players (2020-2025)
- 6.2 Global Thin Film Drugs Industry Players Ranking, 2023 VS 2024 VS 2025
- 6.3 Global Key Players of Thin Film Drugs Head Office and Area Served
- 6.4 Global Thin Film Drugs Players, Product Type & Application
- 6.5 Global Thin Film Drugs Manufacturers Established Date
- 6.6 Global Thin Film Drugs Market CR5 and HHI
- 6.7 Global Players Mergers & Acquisition
- 7 North America
- 7.1 North America Thin Film Drugs Market Size (2020-2031)
- 7.2 North America Thin Film Drugs Market Growth Rate by Country: 2020 VS 2024 VS 2031
- 7.3 North America Thin Film Drugs Market Size by Country (2020-2025)
- 7.4 North America Thin Film Drugs Market Size by Country (2026-2031)
- 7.5 United States
- 7.5 United States
- 7.6 Canada
- 7.7 Mexico
- 8 Europe
- 8.1 Europe Thin Film Drugs Market Size (2020-2031)
- 8.2 Europe Thin Film Drugs Market Growth Rate by Country: 2020 VS 2024 VS 2031
- 8.3 Europe Thin Film Drugs Market Size by Country (2020-2025)
- 8.4 Europe Thin Film Drugs Market Size by Country (2026-2031)
- 8.5 Germany
- 8.6 France
- 8.7 U.K.
- 8.8 Italy
- 8.9 Spain
- 8.10 Russia
- 8.11 Netherlands
- 8.12 Nordic Countries
- 9 Asia-Pacific
- 9.1 Asia-Pacific Thin Film Drugs Market Size (2020-2031)
- 9.2 Asia-Pacific Thin Film Drugs Market Growth Rate by Country: 2020 VS 2024 VS 2031
- 9.3 Asia-Pacific Thin Film Drugs Market Size by Country (2020-2025)
- 9.4 Asia-Pacific Thin Film Drugs Market Size by Country (2026-2031)
- 9.5 China
- 9.6 Japan
- 9.7 South Korea
- 9.8 India
- 9.9 Australia
- 9.10 China Taiwan
- 9.11 Southeast Asia
- 10 South America
- 10.1 South America Thin Film Drugs Market Size (2020-2031)
- 10.2 South America Thin Film Drugs Market Growth Rate by Country: 2020 VS 2024 VS 2031
- 10.3 South America Thin Film Drugs Market Size by Country (2020-2025)
- 10.4 South America Thin Film Drugs Market Size by Country (2026-2031)
- 10.5 Brazil
- 10.6 Argentina
- 10.7 Chile
- 10.8 Colombia
- 10.9 Peru
- 11 Middle East & Africa
- 11.1 Middle East & Africa Thin Film Drugs Market Size (2020-2031)
- 11.2 Middle East & Africa Thin Film Drugs Market Growth Rate by Country: 2020 VS 2024 VS 2031
- 11.3 Middle East & Africa Thin Film Drugs Market Size by Country (2020-2025)
- 11.4 Middle East & Africa Thin Film Drugs Market Size by Country (2026-2031)
- 11.5 Saudi Arabia
- 11.6 Israel
- 11.7 United Arab Emirates
- 11.8 Turkey
- 11.9 Iran
- 11.10 Egypt
- 12 Players Profiled
- 12.1 GSK
- 12.1.1 GSK Company Information
- 12.1.2 GSK Business Overview
- 12.1.3 GSK Revenue in Thin Film Drugs Business (2020-2025)
- 12.1.4 GSK Thin Film Drugs Product Portfolio
- 12.1.5 GSK Recent Developments
- 12.2 LTS
- 12.2.1 LTS Company Information
- 12.2.2 LTS Business Overview
- 12.2.3 LTS Revenue in Thin Film Drugs Business (2020-2025)
- 12.2.4 LTS Thin Film Drugs Product Portfolio
- 12.2.5 LTS Recent Developments
- 12.3 J&J
- 12.3.1 J&J Company Information
- 12.3.2 J&J Business Overview
- 12.3.3 J&J Revenue in Thin Film Drugs Business (2020-2025)
- 12.3.4 J&J Thin Film Drugs Product Portfolio
- 12.3.5 J&J Recent Developments
- 12.4 Indivior
- 12.4.1 Indivior Company Information
- 12.4.2 Indivior Business Overview
- 12.4.3 Indivior Revenue in Thin Film Drugs Business (2020-2025)
- 12.4.4 Indivior Thin Film Drugs Product Portfolio
- 12.4.5 Indivior Recent Developments
- 12.5 Pfizer
- 12.5.1 Pfizer Company Information
- 12.5.2 Pfizer Business Overview
- 12.5.3 Pfizer Revenue in Thin Film Drugs Business (2020-2025)
- 12.5.4 Pfizer Thin Film Drugs Product Portfolio
- 12.5.5 Pfizer Recent Developments
- 12.6 Sanofi
- 12.6.1 Sanofi Company Information
- 12.6.2 Sanofi Business Overview
- 12.6.3 Sanofi Revenue in Thin Film Drugs Business (2020-2025)
- 12.6.4 Sanofi Thin Film Drugs Product Portfolio
- 12.6.5 Sanofi Recent Developments
- 12.7 Church & Dwight
- 12.7.1 Church & Dwight Company Information
- 12.7.2 Church & Dwight Business Overview
- 12.7.3 Church & Dwight Revenue in Thin Film Drugs Business (2020-2025)
- 12.7.4 Church & Dwight Thin Film Drugs Product Portfolio
- 12.7.5 Church & Dwight Recent Developments
- 12.8 tesa Labtec
- 12.8.1 tesa Labtec Company Information
- 12.8.2 tesa Labtec Business Overview
- 12.8.3 tesa Labtec Revenue in Thin Film Drugs Business (2020-2025)
- 12.8.4 tesa Labtec Thin Film Drugs Product Portfolio
- 12.8.5 tesa Labtec Recent Developments
- 12.9 Tapemark
- 12.9.1 Tapemark Company Information
- 12.9.2 Tapemark Business Overview
- 12.9.3 Tapemark Revenue in Thin Film Drugs Business (2020-2025)
- 12.9.4 Tapemark Thin Film Drugs Product Portfolio
- 12.9.5 Tapemark Recent Developments
- 12.10 Prestige Bands
- 12.10.1 Prestige Bands Company Information
- 12.10.2 Prestige Bands Business Overview
- 12.10.3 Prestige Bands Revenue in Thin Film Drugs Business (2020-2025)
- 12.10.4 Prestige Bands Thin Film Drugs Product Portfolio
- 12.10.5 Prestige Bands Recent Developments
- 12.11 Sun Pharma
- 12.11.1 Sun Pharma Company Information
- 12.11.2 Sun Pharma Business Overview
- 12.11.3 Sun Pharma Revenue in Thin Film Drugs Business (2020-2025)
- 12.11.4 Sun Pharma Thin Film Drugs Product Portfolio
- 12.11.5 Sun Pharma Recent Developments
- 12.12 MonoSol
- 12.12.1 MonoSol Company Information
- 12.12.2 MonoSol Business Overview
- 12.12.3 MonoSol Revenue in Thin Film Drugs Business (2020-2025)
- 12.12.4 MonoSol Thin Film Drugs Product Portfolio
- 12.12.5 MonoSol Recent Developments
- 12.13 BioDelivery
- 12.13.1 BioDelivery Company Information
- 12.13.2 BioDelivery Business Overview
- 12.13.3 BioDelivery Revenue in Thin Film Drugs Business (2020-2025)
- 12.13.4 BioDelivery Thin Film Drugs Product Portfolio
- 12.13.5 BioDelivery Recent Developments
- 12.14 Arx
- 12.14.1 Arx Company Information
- 12.14.2 Arx Business Overview
- 12.14.3 Arx Revenue in Thin Film Drugs Business (2020-2025)
- 12.14.4 Arx Thin Film Drugs Product Portfolio
- 12.14.5 Arx Recent Developments
- 12.15 ZIM
- 12.15.1 ZIM Company Information
- 12.15.2 ZIM Business Overview
- 12.15.3 ZIM Revenue in Thin Film Drugs Business (2020-2025)
- 12.15.4 ZIM Thin Film Drugs Product Portfolio
- 12.15.5 ZIM Recent Developments
- 12.16 NAL Pharma
- 12.16.1 NAL Pharma Company Information
- 12.16.2 NAL Pharma Business Overview
- 12.16.3 NAL Pharma Revenue in Thin Film Drugs Business (2020-2025)
- 12.16.4 NAL Pharma Thin Film Drugs Product Portfolio
- 12.16.5 NAL Pharma Recent Developments
- 12.17 AdhexPharma
- 12.17.1 AdhexPharma Company Information
- 12.17.2 AdhexPharma Business Overview
- 12.17.3 AdhexPharma Revenue in Thin Film Drugs Business (2020-2025)
- 12.17.4 AdhexPharma Thin Film Drugs Product Portfolio
- 12.17.5 AdhexPharma Recent Developments
- 12.18 Aavishkar
- 12.18.1 Aavishkar Company Information
- 12.18.2 Aavishkar Business Overview
- 12.18.3 Aavishkar Revenue in Thin Film Drugs Business (2020-2025)
- 12.18.4 Aavishkar Thin Film Drugs Product Portfolio
- 12.18.5 Aavishkar Recent Developments
- 12.19 IntelGenx Corp
- 12.19.1 IntelGenx Corp Company Information
- 12.19.2 IntelGenx Corp Business Overview
- 12.19.3 IntelGenx Corp Revenue in Thin Film Drugs Business (2020-2025)
- 12.19.4 IntelGenx Corp Thin Film Drugs Product Portfolio
- 12.19.5 IntelGenx Corp Recent Developments
- 12.20 APR
- 12.20.1 APR Company Information
- 12.20.2 APR Business Overview
- 12.20.3 APR Revenue in Thin Film Drugs Business (2020-2025)
- 12.20.4 APR Thin Film Drugs Product Portfolio
- 12.20.5 APR Recent Developments
- 13 Report Conclusion
- 14 Disclaimer
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