Pharmaceutical Suppositories Market Projected to Reach USD 2.8 Billion by 2032 | CAGR of 5.7% from 2023 to 2032

Allied Market Research published a report, titled, “Pharmaceutical Suppositories Market by Type (Rectal Suppositories, Vaginal Suppositories, Urethral Suppositories), by Base (Fatty Bases, Water Miscible Base, Emulsifying Bases), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Sales), by End User (Hospitals and Clinics, Home Care, Nursing Home), by Prescription Type (OTC, Prescribed Suppositories): Global Opportunity Analysis and Industry Forecast, 2023–2032″.

According to the report, the global pharmaceutical suppositories market valued at $1.6 billion in 2022 and is estimated to reach $2.8 billion by 2032, exhibiting a CAGR of 5.7% from 2023 to 2032.

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What Drivers Pharmaceutical Suppositories Market Growth ?

The global pharmaceutical suppositories market is experiencing growth propelled by technological advancements, an increasing prevalence of chronic diseases, and a rising adoption and awareness of suppositories. However, market expansion faces obstacles in the form of manufacturing complexities and limited drug compatibility. Not all medications can be efficiently delivered through suppositories due to stability and solubility issues. Conversely, ongoing technological advancements in suppository formulations are poised to present lucrative opportunities for the pharmaceutical suppositories market in the forecast period.

The hospitals & clinics segment to maintain its lead position during the forecast period.

In 2022, hospitals & clinics dominated the pharmaceutical suppositories market, contributing nearly three-fifths of the revenue. This trend is expected to continue during the forecast period, driven by hospitals’ growing preference for suppository products and increased government initiatives for chronic disease treatment. However, the home care segment is projected to experience the highest CAGR of 6.3% due to rising patient preference for home-based healthcare, user-friendly drug delivery methods like suppositories, and the aging population’s inclination towards self-administration of medications at home.

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North America to maintain its dominance by 2032 

In 2022, North America led the pharmaceutical suppositories market, contributing almost two-fifths of the global revenue. This was driven by a well-developed healthcare industry, the presence of leading manufacturers, and a high adoption rate of suppositories in the region. Conversely, the Asia-Pacific region is projected to experience the fastest CAGR of 7.5% from 2023 to 2032. This growth is attributed to the increasing geriatric population, a rise in cases of constipation and hemorrhoids, and improvements in healthcare infrastructure in the region.

Leading Market Players:

• Bayer AG
• Bliss GVS Pharma Ltd
• Viatris Inc.
• Church and Dwight Co. Inc.
• Glenmark Pharmaceuticals Limited
• Intas Pharmaceuticals Ltd.
• Cadila Healthcare Ltd
• Novartis AG
• Pfizer Inc.
• Sanofi S.A.

Key findings of the study 
• On the basis of type, the rectal suppositories segment dominated the pharmaceutical suppositories market size in terms of revenue in 2022. However, the vaginal suppositories segment is anticipated to grow at the fastest CAGR during the forecast period.
• On the basis of base, the emulsifying bases segment held largest market share in 2022 and is expected to remain dominant throughout the forecast period.
• On the basis of distribution channel, the hospital pharmacies segment dominated the pharmaceutical suppositories industry in terms of revenue in 2022. However, the online sales segment is anticipated to grow at the fastest CAGR during the forecast period.
• On the basis of end user, the hospitals & clinics segment dominated the market in terms of revenue in 2022. However, the home care segment is anticipated to grow at the fastest CAGR during the forecast period.
• On the basis of prescription type, the prescribed suppositories segment held the largest pharmaceutical suppositories industry share in 2022. However, the OTC segment is anticipated to grow at the fastest CAGR during the forecast period
• On the basis of region, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pharmaceutical suppositories market analysis from 2022 to 2032 to identify the prevailing pharmaceutical suppositories market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the pharmaceutical suppositories market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global pharmaceutical suppositories market trends, key players, market segments, application areas, and market growth strategies.

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