It would still be possible to fly a predominantly ballistic trajectory, yet use rocket propulsion to decelerate whilst still outside the atmosphere. It would require a huge amount of extra fuel compared to a purely ballistic trajectory, but perhaps still less than achieving a full orbit and de-orbiting again for some destinations.
At global distances a fraction orbital trajectory would use less total rocket delta-V.
More practical would be a trajectory that was a series of small suborbital arcs with skipping off the atmosphere (perhaps with some airbreathing propulsion during the skips.) The thermal protection can cool by radiation between the skips.
