The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Pharmaceutical Suppositories Global Market Report 2024, the pharmaceutical suppositories market is expected to show promising growth in the forecast period.

The pharmaceutical suppositories market has experienced substantial growth in recent years, driven by various factors such as increased healthcare expenditure and rising disease prevalence. In this blog, we will delve into the key drivers of market growth, future trends, and notable industry developments.

Market Growth Overview

• Recent Growth:
  • The market grew from $1.6 billion in 2023 to $1.7 billion in 2024, at a CAGR of 6.3%.
  • Growth drivers include increased healthcare expenditure, new regulatory approvals, government initiatives, a rise in constipation prevalence, and increasing disease incidence.
• Future Projections:
  • The market is expected to reach $2.19 billion by 2028, with a CAGR of 6.5%.
  • Future growth will be driven by an increase in the prevalence of kidney damage or failure, and hemorrhoids, alongside technological advancements and strategic partnerships.

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Catalyst for Pharmaceutical Suppositories Market Growth

• Increasing Disease Prevalence:
  • The rising prevalence of diseases is a significant driver for the market. Factors such as geography, climate, and disease-transmitting insects contribute to the higher incidence of various ailments.
  • Suppositories provide an effective drug delivery method, especially beneficial for patients with specific diseases.
• Case in Point:
  • According to the Australian Institute of Health and Welfare, over 4,700 hospitalizations were reported with COVID-19 in 2020–2021. This highlights the increasing need for diverse treatment methods, including suppositories.

Major Players in the Pharmaceutical Suppositories Market

• Key Companies:
  • Major companies in the market include Bayer AG, Pfizer Inc., Novartis International AG, Sanofi S.A., and Intas Pharmaceuticals Ltd.
  • Other notable players are Unither Pharmaceuticals, Cosette Pharmaceuticals, Inc., Aenova Holding GmbH, Delpharm, and Bliss GVS Pharma Ltd.

Transforming the Pharmaceutical Suppositories Market

• Technological Advancements:
  • Companies are leveraging advanced technologies to maintain their market positions.
  • Example: In March 2021, CB21 Pharma launched CANNEFF VAG SUP vaginal suppositories and CANNEFF SUP rectal suppositories for treating various mucous membrane and anorectal canal disorders.
• Product Innovations:
  • Innovations such as new formulations and improved delivery mechanisms are key trends.
  • Focus on patient convenience and adherence is driving product development.

Strategic Acquisitions

• Merck & Co. Acquisition:
  • In April 2023, Merck & Co. acquired Prometheus Biosciences for $10.8 billion. This acquisition is aimed at advancing treatments for ulcerative colitis and Crohn’s disease using monoclonal antibody therapy delivered through suppositories.

Market Segmentation

• By Type:
  • Segments include Rectal Suppositories, Vaginal Suppositories, Urethral Suppositories, and other types.
• By Base:
  • The market is divided into Fatty Base, Water Miscible Bases, and Emulsifying Bases.
• By End-User:
  • End-users include Hospitals and Clinics, Nursing Homes, Home Care, and other settings.

Regional Insights

• Current Leaders:
  • North America was the largest region in the pharmaceutical suppositories market in 2023, driven by high healthcare expenditure and advanced healthcare infrastructure.
• Fastest Growing:
  • Asia-Pacific is expected to be the fastest-growing region during the forecast period, attributed to increasing healthcare awareness and economic growth.

Conclusion

The pharmaceutical suppositories market is poised for significant growth, driven by increased disease prevalence, technological advancements, and strategic industry acquisitions. As healthcare needs continue to evolve, suppositories will remain a crucial drug delivery method, offering effective treatment options for a variety of conditions.

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