Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "North America Pharmaceutical Suspension Market Size, Share & Trends Analysis Report By Type, By Distribution Channel, By End User, By Indication (Cancer, Neurological, Infectious Diseases, Gastrointestinal, and Others), By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The North America Pharmaceutical Suspension Market is expected to witness market growth of 3.3% CAGR during the forecast period (2023-2030).
Pharmaceutical suspensions are extensively used in pediatric medicine, addressing the challenge of administering medications to children with difficulty swallowing tablets or capsules. Liquid suspensions offer a palatable and easily swallowable alternative, ensuring accurate dosing for pediatric patients. Elderly individuals often face challenges associated with swallowing solid dosage forms. Pharmaceutical suspensions provide a convenient solution for geriatric patients who may experience difficulties in medication administration. This use enhances patient compliance and ensures elderly individuals receive their medications effectively.
Pharmaceutical suspensions are employed to improve the bioavailability of drugs with poor solubility. Converting poorly soluble compounds into suspensions increases the surface area for absorption, enhancing therapeutic efficacy. This application is crucial for drugs with low bioavailability that may otherwise exhibit suboptimal clinical outcomes. Taste masking is a significant application of pharmaceutical suspensions, particularly in pediatric formulations. Many drugs have unpleasant tastes that can be a barrier to medication adherence, especially in children. Suspending such drugs in a liquid form allows for the addition of flavoring agents, making the medication more palatable and increasing patient acceptance.
Cancer treatment often involves personalized medicine, and pharmaceutical suspensions in Canada allow customized formulations tailored to individual patient needs. The liquid nature of pharmaceutical suspensions allows for targeted drug delivery to specific tumour sites in Canada. This precision in drug delivery can enhance the therapeutic effect while minimizing side effects on healthy tissues in Canada. Hence, the factors mentioned above will drive the regional market growth.
The US market dominated the North America Pharmaceutical Suspension Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $18,546 million by 2030. The Canada market is experiencing a CAGR of 5.6% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 4.7% during (2023 - 2030).
Based on Type, the market is segmented into Parenteral, Oral, and Others. Based on Distribution Channel, the market is segmented into Drug Store & Retail Pharmacies, Hospital Pharmacies, and Online Providers. Based on End User, the market is segmented into Hospitals and Clinics, Home Care Settings, and Others. Based on Indication, the market is segmented into Cancer, Neurological, Infectious Diseases, Gastrointestinal, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Merck & Co., Inc.
- Bayer AG
- Sanofi S.A.
- Pfizer, Inc.
- Novartis AG
- AstraZeneca PLC
- Glenmark Pharmaceuticals Limited
- Teva Pharmaceutical Industries Ltd.
- Eli Lilly And Company
- Lupin Limited
Market Report Segmentation
By Type
- Parenteral
- Oral
- Others
By Distribution Channel
- Drug Store & Retail Pharmacies
- Hospital Pharmacies
- Online Providers
By End User
- Hospitals and Clinics
- Home Care Settings
- Others
By Indication
- Cancer
- Neurological
- Infectious Diseases
- Gastrointestinal
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
For more information about this report visit https://www.researchandmarkets.com/r/t7au6p
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