The global fatty bases for suppositories industry is expected to surge during 2020-2027 timeframe as fats excipients play a role in drug delivery. Hard fat sub-segment is expected to be the fastest growing during the forecasted years. The North American region is estimated to hold a dominant share in the market.
New York, USA, June 14, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global fatty bases for suppositories market is anticipated to gain $6,565.1 million revenue by 2027, rising from a market share of $5,246.5 million in the year 2019, at a healthy growth rate of 2.7% during 2020-2027 estimated timeframe. The report includes various market factors such as key trending developments, segmentation of the market, drivers & restraints, SWOT scrutiny, Porter’s five forces analysis, Covid-19 impact on the market, significant market players, forecasts, regional outlook, and much more. Apart from this, the research methodology used in the report is a combination of both primary and secondary research techniques.
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Aspects Impacting the Market Growth
The fatty bases for suppositories market worldwide is expected to enhance during the estimated timeframe as fat excipients play a vital role during drug delivery in geriatric and pediatric patients. The rectal passage serves as an alternative for drug delivery amongst the old-age population. Moreover, several advantages of the fat suppositories such as the ability to get absorbed into the lymphatic system and absorption of less molecular weight drugs are predicted to boost the market growth during the forecasted years. Furthermore, an increase in the number of product launches is projected to propel market growth. For example, in July 2017, Cipla, a pharmaceutical company, introduced rectal suppositories which are oil-based, to diagnose patients suffering from the malarial disease. Apart from this, properties of fat suppositories such as neutrality to mucous membranes, chemical & physical stability, and compatibility with compounds are projected to surge the market growth during the predicted timeframe.
However, the lack of willingness and acceptability to utilize rectal products by the users is projected to hinder the market growth during the analyzed timeframe. Nevertheless, there are a lot of research activities in the queue for generating an antiviral suppository drug. Multiple pharmaceutical companies and biotech facilities are preparing rectal and vaginal microbicides that offer excellent antiviral therapies. These factors are anticipated to produce opportunities in the market.
The report divides the market into segments based on excipient type and region.
Hard Fat Sub-Segment to be the Fastest Growing
The excipient segment is classified into macrogol, hard fat, water & glycerol, cocoa butter, and gelatin. Amongst these, the hard fat sub-segment was recorded to be the highest market shareholder in 2020, and the sub-segment is projected to gather a revenue of $3,039.1 million by the end of 2027, increasing from a market size of $2,385.4 million in 2019. The sub-segment growth is due to a range of properties of the hard fat. Hard fat can exhibit a range of firmness levels, melting points, and dissolving rates, depending on the molecular weight.
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Regional Insights of the Market
The major regions of the market are LAMEA, Europe, North America, and Asia-Pacific. Amongst these, the North American region is projected to register a revenue of $2,410.2 million by the end of 2027, rising from a market size of $1,988.5 million in 2019. The market growth is due to the rise in urological & gynecological diseases in the area. For instance, as per a report by CDC (Center for Disease Control), the BV (Bacterial Vaginosis) is one of the commonest viral infections amongst women in the United States. These aspects are projected to drive the global market during the forecasted years.
Major Players of the Market
The prominent players of the global fatty bases for suppositories market are -
Bliss GVS Pharma Ltd.
Aenova Holding GmBH
LGV (Laboratories Mayoly Spindler).
These players are devising strategies such as product launches, mergers & acquisitions, collaborations, and much more to gain an upper edge in the market.
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