What Will The Pharmaceutical Suppositories Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s pharmaceutical suppositories market report forecasts the pharmaceutical suppositories market size to grow to $1.97 Billion by 2027, with a CAGR (compound annual growth rate) of more than 5%.
Learn More On The Pharmaceutical Suppositories Market Report 2023 – https://www.thebusinessresearchcompany.com/report/pharmaceutical-suppositories-global-market-report
Pharmaceutical Suppositories Market Size Forecast
The global pharmaceutical suppositories market is expected to grow from $1.51 billion in 2022 to $1.59 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pharmaceutical suppositories market is expected to grow to $1.97 billion in 2027 at a CAGR of 5.4%.
North America held the largest pharmaceutical suppositories market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Pharmaceutical Suppositories Market Driver – Increase In The Prevalence Of Diseases
According to the Australian Institute of Health and Welfare, over 4,700 hospitalisations in 2020-2021 were reported to have COVID-19 infection. The most common primary diagnosis recorded alongside other infectious diseases was viral pneumonia (24% of cases), “COVID-19 infection” (19%), and symptoms including cough (9.9%), fever (6.6%), and breathing problems (4.8%). As a result, the rising prevalence of diseases is propelling the pharmaceutical suppositories market forward.
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Key Pharmaceutical Suppositories Market Trend – Technological Advancement
Major pharmaceutical suppositories companies are using advanced technologies to maintain their market position. For example, in March 2021, CB21 Pharma, a subsidiary of CBDepot, a US-based manufacturer and B2B provider of high-end cannabis products, launched CANNEFF VAG SUP vaginal suppositories and CANNEFF SUP rectal suppositories. CANNEFF VAG SUP is used as a supplement to proctological procedures, proctitis, cryptitis, anal fissures, and perianal fistula to aid in the healing processes of anorectal canal disorders.
Pharmaceutical Suppositories Market Segment
1) By Type: Rectal Suppositories, Vaginal Suppositories, Urethral Suppositories
2) By Base: Fatty Base, Water Miscible Bases, Glycero Gelatin Base, Soap Glycerin Suppositories, Polyethylene Glycol Bases, Emulsifying Bases, Witepsol, Massa Esterium, Massuppol
3) By End-User: Hospitals, Clinics, Nursing Home, Home Care, Other End Users
Pharmaceutical Suppositories Market Major Players and Strategies
Major players in the pharmaceutical suppositories market are Bayer AG, Bliss GVS Pharma Ltd., Cadila Healthcare Ltd., Church & Dwight Co. Inc., Cosette Pharmaceuticals Inc., Glenmark Pharmaceuticals Ltd., Intas Pharmaceuticals Ltd., Novartis International AG., Pfizer Inc., Sanofi SA, Delpharm, ATRAL Pharmaceutical, Aenova Holding GmBH, Famar Group, Unither Pharmaceuticals SAS, and Priyans Drugs.
The Pharmaceutical Suppositories Global Market Report 2023 covers regional data on pharmaceutical suppositories market size, pharmaceutical suppositories market trends and drivers, opportunities, strategies, and pharmaceutical suppositories market competitor analysis. The countries covered in the pharmaceutical suppositories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
A pharmaceutical suppository is a small block of medication that is inserted into the vagina or rectum and dissolves slowly at body temperature.
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