Twopip Research

Pharmaceutical Suppositories Global Market Report 2024

The pharmaceutical suppositories market size has grown strongly in recent years. It will grow from $1.6 billion in 2023 to $1.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The expansion observed in the historical period can be attributed to the rise in healthcare expenditure, new regulatory approvals for marketing suppositories, government initiatives, the increased prevalence of constipation, and the growing incidence of diseases. The pharmaceutical suppositories market size is expected to see strong growth in the next few years. It will grow to $2.19 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The anticipated growth in the forecast period can be attributed to an increase in the prevalence of kidney damage or failure and a rise in the prevalence of hemorrhoids. Key trends expected in the forecast period include strategic partnerships, technological advancements, product innovation, and a focus on patient convenience and adherence.The pharmaceutical suppositories market is poised for growth, driven by the increasing prevalence of diseases. The rise in disease prevalence is attributed to factors such as geography, climate, and insect vectors transmitting the causative agents. Pharmaceutical suppositories play a crucial role in treating the growing number of patients afflicted by various diseases. This drug delivery method involves inserting a small, cylindrical, or conical device into the body, typically into the rectum, where it dissolves or melts, releasing the medication to address the disease. For instance, the Australian Institute of Health and Welfare reported over 4,700 hospitalizations due to COVID-19 infection in 2020–2021, with viral pneumonia, COVID-19 infection, and related symptoms being the most common primary diagnoses. Thus, the escalating prevalence of diseases is a significant driver for the growth of the pharmaceutical suppositories market.The pharmaceutical suppositories market is anticipated to benefit from the increasing size of the aging population. A substantial portion of the elderly population is bedridden, making them susceptible to various health complications, including constipation and urinary tract infections. Suppositories play a crucial role in providing proper nursing care to bedridden individuals, contributing to market growth. According to the World Health Organization, by 2030, 1 in 6 people globally will be aged 60 years or older, and by 2050, the world's population of people aged 60 years and older will double to reach 2.1 billion. The number of individuals aged 80 years or older is expected to triple between 2020 and 2050, reaching 426 million. Hence, the aging population is poised to drive demand and support the growth of the pharmaceutical suppositories market.A key trend gaining popularity in the pharmaceutical suppositories market is technological advancements. Major companies in the market are leveraging advanced technologies to maintain their competitive position. For instance, CB21 Pharma, a subsidiary of CBDepot, introduced CANNEFF VAG SUP vaginal suppositories and CANNEFF SUP rectal suppositories, utilizing advanced technologies to enhance therapy for vaginal mucous membrane disorders and proctological procedures, respectively.A prominent trend gaining traction in the pharmaceutical suppositories market is the emphasis on product innovation. Major players in the pharmaceutical suppositories market are actively engaged in developing inventive products to fortify their market positions. In April 2021, Teva Pharmaceuticals Inc., a subsidiary of Teva Pharmaceutical Industries Ltd. based in the United States, launched its generic version of Casana 1 (mesalamine) suppository medication in the U.S. This 1000 mg potency drug is designed for the treatment of active ulcerative proctitis, also known as ulcerative rectal colitis, in adults. It is essential to note that the use of CANASA in conjunction with nonsteroidal anti-inflammatory drugs (NSAIDs) may lead to kidney problems, and when combined with azathioprine or 6-mercaptopurine, it may cause blood-related issues. Consequently, specific tests are recommended during the course of treatment with CANASA.In April 2023, Merck & Co., Inc., a pharmaceutical company headquartered in the United States, completed the acquisition of Prometheus Biosciences for a total consideration of $10.8 billion. This strategic acquisition positions Merck to participate in the Phase 2 trial for treatments targeting ulcerative colitis and Crohn’s disease through Prometheus's monoclonal antibody therapy delivered via suppositories. Prometheus Biosciences, a U.S.-based biotechnology company, specializes in developing precision therapies for immune-mediated diseases, leveraging innovative suppository-based approaches.Major companies operating in the pharmaceutical suppositories market report are Bayer AG, Pfizer Inc., Novartis International Ag, Sanofi S.A., Intas Pharmaceuticals Ltd.,Unither Pharmaceuticals, Cosette Pharmaceuticals, Inc., Aenova Holding GmbH, Delpharm, Bliss GVS Pharma Ltd., JoinHub Pharma, Sun Pharmaceutical Industries Ltd., Cipla Ltd., Divis Laboratories Ltd., Dr. Reddys Laboratories Ltd., Apollo Hospitals Enterprise Ltd., Torrent Pharmaceuticals Ltd., Amgen, Bristol Myers Squibb, Chiesi Farmaceutici, CSPC Pharmaceutical Group, Esteve Química, Humanwell Healthcare (Group) Co, Jiangsu Hengrui Pharmaceutical, GlaxoSmithKline (GSK), Nordic Pharma Group, Phoenix Pharma Group, DocMorris, Medpex, AstraZeneca, Abbott Laboratories, Mylan, Zentiva, Merck & Co, Teva Pharmaceutical Industries Ltd., AbbVie Inc., Apotex, Gilead Sciences, Roche, EMS Pharma, Biolab Farmaceutica, Boehringer Ingelheim, JRS Pharma, Roquette, Odan Laboratories Ltd., Axantia, Fresenius Kabi South Africa (Pty) Ltd., Kiara Health (Pty) Ltd., IBD Africa, Menarini Group, Padagis LLC.North America was the largest region in the pharmaceutical suppositories market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pharmaceutical suppositories market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the pharmaceutical suppositories market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.The primary categories of pharmaceutical suppositories include rectal suppositories, vaginal suppositories, urethral suppositories, and others. Rectal suppositories are medication delivery systems inserted into the rectum, utilizing bases such as fatty, water-miscible, and emulsifying bases. These suppositories find application in various healthcare settings, including hospitals, clinics, nursing homes, home care, and other end-users.The pharmaceutical suppositories market research report is one of a series of new reports that provides pharmaceutical suppositories market statistics, including pharmaceutical suppositories industry global market size, regional shares, competitors with pharmaceutical suppositories market share, detailed pharmaceutical suppositories market segments, market trends, and opportunities, and any further data you may need to thrive in the pharmaceutical suppositories industry. This pharmaceutical suppository market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.The pharmaceutical suppositories market consists of sales of conventional suppositories, in vitro fertilization, and vardenafil. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.This product will be delivered within 3-5 business days.