Covid-19 Update Global Colonoscopy Bowel Preparation Drugs Market to Surpass US$ 2.4 Billion by 2027 | CMI
SEATTLE, May 04, 2021, (PHARMIWEB) —
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 accounted around US$ 1,574.9 million in 2018 and is estimated to register a CAGR around 4.9% during the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Growing adoption of inorganic growth strategies including acquisitions and merger by major players are expected to drive the global colonoscopy bowel preparation drugs market growth during 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, Costa Rica, Colombia, Ecuador, Dominican Republic, El Salvador, Honduras, Guatemala, Nicaragua, Mexico, Peru and Panama.
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The increasing number of colorectal cancer cases is expected to propel growth of the global colonoscopy bowel preparation drugs market during 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 over 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). Moreover, 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 a significant position in the colonoscopy bowel preparation drugs market over the forecast period, due to growing product launches and approvals in the region, which is expected to drive growth of the global colonoscopy bowel preparation drugs market during 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, ascorbic acid, sodium sulfate, sodium chloride, and potassium chloride for oral solution) lower-volume (1L) polyethylene glycol-based (PEG) bowel preparation. Moreover, 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.
Asia Pacific is expected to witness robust growth in the colonoscopy bowel preparation drugs market during the forecast period, due to rising cases of colon cancer in the region. For instance, in October 2019, according to an article published in The Indian Journal of Cancer, the annual incidence of colon cancer in men and women in India is 4.4 and 3.9 per 100,000 population, respectively.
The global colonoscopy bowel preparation drugs market is estimated to register a CAGR over 4.9% during the forecast period, due to growing 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 are dominating in the global colonoscopy bowel preparation drugs market such as Ferring B.V., Braintree, Bayer AG, Norgine B.V. and Bausch Health Companies Inc.
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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
- Isosmotic Agents
By Distribution Channel:
- Hospitals Pharmacies
- Retail Pharmacies
View Press Release For More Information @ https://www.coherentmarketinsights.com/press-release/colonoscopy-bowel-preparation-drugs-market-2937
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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