Fatty Bases for Suppositories Market to Reach $339.5 Million, Globally, by 2031: Allied Market Research

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Oct 25, 2022, 11:30 ET

Rise in need for better alternatives that could help patients recover from infectious diseases such as allergies, anxiety, constipation, fever and many more, prevalence of modern healthcare industries for improved medications, increase in healthcare infrastructure, and persistent development in antiretroviral suppository drug delivery system are expected to drive the growth of the global fatty bases for suppositories market.

PORTLAND, Ore. , Oct. 25, 2022 /PRNewswire/ -- Allied Market Research published a report titled, "Fatty Bases for Suppositories Market by Base Type (Hard Fat, Water Miscible Base, Emulsifying Bases): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global fatty bases for suppositories market generated $197.9 million in 2021, and is projected to reach $339.5 million by 2031, growing at a CAGR of 5.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

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Drivers, Restraints and Opportunities

COVID-19 Scenario

The outbreak of the COVID-19 has had a negative impact on the growth of the global fatty bases for suppositories market, owing to the occurrence of lockdowns in various countries across the globe. Lockdowns resulted in the closure of various manufacturing facilities, including those of fatty bases for suppositories, which adversely impacted the growth of the market. In addition, shortage of workforce and restrictions on import and export of items due to presence of stringent social distancing restrictions further aggravated the impact on the market. These restrictions were mainly imposed so as to curb the spread of the virus during the pandemic. However, the market is expected to recoup during the forecast period.

The emulsifying bases segment to lead the trail during the assessment period

Based on base type, the emulsifying bases segment held the dominating market share in 2021, holding nearly two-fifths of the global fatty bases for suppositories market share. Moreover, the emulsifying bases sub-segment of base type held the highest market share in 2021 and is likely to continue its domination even during the forecast period. The growth of the segment over the forecast timeframe can be attributed to the emulsifying bases having outstanding qualities such as neutrality, texture stability, and the ability to mix physically with incompatible substances. The water miscible base segment, on the other hand, is expected to cite the fastest CAGR of 6.0% during the forecast period. Water miscible base sub-segment is expected to grow at a fastest CAGR during the forecast period on account of its extensive use in preparation of various ointments as well as in dermatologic ointments.

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The Europe region to occupy a dominant status during the forecast period

Based on region, the market across Europe held the dominating market share in 2021, holding nearly one-third of the global fatty bases for suppositories market share in 2021. The region will continue its dominance even in the next ten years. The European region held the major share of fatty bases for suppositories market in 2021 owing to its well-developed healthcare system and the higher rate of suppository adoption in this region. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 6.39% during the forecast period. The Asia-Pacific fatty bases for suppositories market is anticipated to grow at a fastest CAGR on account of the rise in urological and gynaecological problems in this region.

Prominent Players of the Market Profiled in the Report:

IOI Oleo GmbH
SpecializedRx Products, LLC
CD Formulation
Dow Chemical International Private Limited
Croda International Plc
STEARINERIE DUBOIS
Gattefossé
Tianshui Huayuan Pharmaceutical Equipment technology Co.,ltd

The report analyzes these key players in the global fatty bases for suppositories market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.

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