Global Colonoscopy Bowel Preparation Drugs Market, by Drug Type (Isosmotic Agents, Hyposmotic Agents, Hyperosmotic Agents, and Combination Agents), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
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The rising adoption of inorganic growth strategies such as acquisitions and collaborations by key players are expected to propel the market growth over the forecast period. For instance, in January 2020, Norgine B.V. entered into an exclusive license and distribution agreement with Faes Farma S.A., a Spain-based pharmaceutical company, for distribution and commercialization of PLENVU in Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, and Peru.
The rising number of colorectal cancer cases is expected to augment the market growth over the forecast period. For instance, according to the American Cancer Society and the International Agency for Research on Cancer 2019 statistics, in Africa, the incidence rate of colorectal cancer increased from 2.9 cases per 100,000 people per year (between 1993 and 2012) to 9.6 cases per 100,000 people per year (between 2013 and 2017). According to the National Cancer Registry’s 2016 data, around 2,998 people in Israel were diagnosed with colorectal cancer in 2016, out of which 1,534 were men and 1,464 were women.
North America is expected to hold dominant position in the colonoscopy bowel preparation drugs market over the forecast period, owing to rising product launches and approvals in the region, which is expected to augment the market growth over the forecast period. For instance, in May 2018, Salix Pharmaceuticals, Ltd., an operating division of Bausch Health Companies Inc., received the U.S. Food and Drug Administration approval for PLENVU (polyethylene glycol 3350, sodium ascorbate, sodium sulfate, ascorbic acid, sodium chloride, and potassium chloride for oral solution) lower-volume (1L) polyethylene glycol-based (PEG) bowel preparation. In November 2017, Ferring Pharmaceuticals, a subsidiary of Ferring B.V., received the U.S. Food and Drug Administration approval for its CLENPIQ (sodium picosulfate, magnesium oxide, and anhydrous citric acid) oral solution for cleansing of the colon in adults undergoing a colonoscopy.
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Asia Pacific is expected to witness significant growth in the colonoscopy bowel preparation drugs market over the forecast period, owing to increasing cases of colon cancer in the region. For instance, according to an article published in The Indian Journal of Cancer in October 2019, the annual incidence of colon cancer in men and women in India is 4.4 and 3.9 per 100,000 population, respectively.
Browse 38 Market Data Tables and 21 Figures spread through 173 Pages and in-depth TOC on ‘Colonoscopy Bowel Preparation Drugs Market, by Drug Type (Isosmotic Agents, Hyposmotic Agents, Hyperosmotic Agents, and Combination Agents), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2027’
To know the latest trends and insights prevalent in the colonoscopy bowel preparation drugs market press release, click the link below: https://www.coherentmarketinsights.com/press-release/colonoscopy-bowel-preparation-drugs-market-2937
Key Takeaways of the Colonoscopy Bowel Preparation Drugs Market:
- The global colonoscopy bowel preparation drugs market is expected to exhibit a CAGR of 4.9% over the forecast period, owing to increasing product launches and approvals. For instance, in November 2017, Norgine B.V. received marketing authorization from The Medicines Evaluation Board (MEB) Netherlands for PLEINVUE/ PLENVU (NER1006) for bowel cleansing in adults prior to any surgical procedure requiring a clean bowel.
- 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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