Colonoscopy Bowel Preparation Drugs Market to Surpass US$ 2.4 Billion, Globally, by the End of 2027 - Coherent Market Insights
The increasing incidence of chronic gastrointestinal disorders such as colorectal cancer is expected to drive growth of the global colonoscopy bowel preparation drugs market during the forecast period.
SEATTLE, March 20, 2020 /PRNewswire/ -- According to Coherent Market Insights, the global colonoscopy bowel preparation drugs market was valued at US$ 1,574.9 million in 2018 and is expected to exhibit a CAGR of 4.9% over the forecast period (2019-2027).
Key Trends and Analysis of the Colonoscopy Bowel Preparation Drugs Market:
Key trends in the market include rising prevalence of colorectal cancer and increasing adoption of growth strategies such as acquisitions, collaborations, and product launches by the market players.
The increasing incidence of chronic gastrointestinal disorders such as colorectal cancer is expected to drive growth of the global colonoscopy bowel preparation drugs market during the forecast period. For instance, according to the World Health Organization 2020 statistics, globally, colorectal cancer is the third most commonly diagnosed cancer in males and the second in females, with around 1.8 million new cases of colorectal cancer diagnosed in 2018 and almost 861,000 deaths occurred in 2018.
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Several market players are focused on product launches, which is expected to propel the market growth. For instance, in September 2018, Salix Pharmaceuticals, Ltd., an operating division of Bausch Health Companies Inc., launched PLENVU, the first and only 1 liter PEG bowel cleansing preparation for colonoscopies in the U.S.
Moreover, increasing adoption of partnerships and acquisition strategies by market players is expected to propel the market growth over the forecast period. For instance, in February 2019, Bausch Health Companies Inc. acquired certain assets of Synergy Pharmaceuticals Inc., a company focusing on the development of drugs to treat gastrointestinal disorders. As a result of this acquisition, it expanded the gastrointestinal product portfolio of Bausch Health Companies Inc. and its presence in the global market.
Key Market Takeaways:
- The global colonoscopy bowel preparation drugs market is expected to exhibit a CAGR of 4.9% during the forecast period (2019-2027), owing to rising prevalence of colorectal cancer. For instance, according to the World Health Organization 2020 statistics, globally, colorectal cancer is the third most commonly diagnosed cancer in males and the second in females, with around 1.8 million new cases of colorectal cancer diagnosed in 2018 and almost 861,000 deaths occurred in 2018.
- Key players are focused on adopting growth strategies such as product launches, collaborations, and acquisitions for enhancing their product offerings in the potential market, which in turn is expected to propel the market growth over the forecast period. For instance, in February 2020, Norgine B.V. entered into an exclusive license and distribution agreement with Faes Farma S.A., for the distribution and commercialization of PLENVU, a colon cleansing preparation, in Latin America.
Key players operating in the global colonoscopy bowel preparation drugs market include—
Ferring B.V., Bayer AG, Braintree, Bausch Health Companies Inc., and Norgine B.V.
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Market Segmentations:
- Global Colonoscopy Bowel Preparation Drugs Market, By Drug Type:
- Isosmotic Agents
- High-volume Polyethylene Glycol Preparations
- Sulfate-free PEG-ELS
- Low-volume PEG Preparations
- Hyposmotic Agents
- Hyperosmotic Agents
- Oral sodium Sulfate
- Magnesium Citrate
- Sodium Phosphate
- Combination Agents
- Sodium Picosulfate/Magnesium Citrate
- Sodium Sulfate and SF-PEG-ELS
- Global Colonoscopy Bowel Preparation Drugs Market, By Distribution Channel:
- Hospitals Pharmacies
- Retail Pharmacies
- Others
- Global Colonoscopy Bowel Preparation Drugs Market, By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- South Africa
- Central Africa
- North Africa
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