“Colonoscopy Bowel Preparation Drugs Market Gains Traction through Enhanced Patient Compliance”
“Colonoscopy Bowel Preparation Drugs Market Gains Traction through Enhanced Patient Compliance”
Blog Article
The colonoscopy bowel preparation drugs market has witnessed tremendous growth in the past decade owing to the rising incidence of colon cancer and growing awareness regarding preventive healthcare. Colonoscopy bowel preparation drugs are taken orally before a colonoscopy procedure to clean the bowel. These drugs induce diarrhea to empty stool from the colon to allow clear visualization of the colon mucosa. The most common colonoscopy bowel preparation drugs include sodium picosulfate, magnesium citrate, and polyethylene glycol solutions that are available over-the-counter or with a prescription. These drugs are increasingly being preferred by patients and physicians owing to their ability to effectively cleanse the colon with minimal side effects and enhanced compliance.
The global colonoscopy bowel preparation drugs market is estimated to be valued at US$ 2201.36 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.
Colonoscopy Bowel Preparation Drugs Market share is being fueled by key factors such as the increasing geriatric population at high risk of colon cancer, rising awareness about colon cancer screening, and the recommendation of regular colonoscopy by healthcare organizations.
Key Takeaways
Key players operating in the colonoscopy bowel preparation drugs market are AKVA group,
Aquafine Corporation, Aquamaof Aquaculture Technologies Ltd, AquaOptima AS, Artec
Aqua AS, ATG UV Technology, Billund Aquaculture, BioFishency Ltd., Clewer
Aquaculture Oy, Global RAS Fishery & Co., Hesy Aquaculture B.V., MAT LSS — Aquarium
Filtration Systems, Pentair PLC. (Pentair Aquatic Eco-Systems, Inc.), RADAQUA, Senect
Gmbh & Co. KG, Sterner AS, The Indian Aqua, Veolia Group, Water Management Technologies, Inc., and Xylem Inc.
Growing demand from hospitals, diagnostic centers, and retail pharmacies is surging the sales of colonoscopy bowel preparation drugs globally. Enhanced compliance with prescription-only colonoscopy bowel preparation drugs along with expanding healthcare infrastructure across emerging countries is driving the global expansion of this market.
Market Key Trends
Enhanced patient compliance through development of low-volume polyethylene glycol
(PEG) based colonoscopy drugs is one of the key trends observed in the market. Low-volume PEG bowel preparations cause minimal electrolyte disturbances with better tolerability than standard PEG solutions and sodium picosulfate tablets. This has increased preference for low-volume PEG products among consumers. Significant R&D investments by key players for new formulation technologies and taste-masking techniques are further anticipated to augment patient compliance in future and positively influence market growth.
Porter’s Analysis
Threat of new entrants: The colonoscopy bowel preparation drugs market requires a high level of investment and presence of stringent regulations act as a barrier for new players to enter the market.
Bargaining power of buyers: The buying power of individual consumers is low due to fragmented demand. However, large hospital groups and institutions can negotiate low prices from manufacturers.
Bargaining power of suppliers: Colonoscopy Bowel Preparation Drugs Market Challenges and Opportunities indicate that major suppliers, including leading drug manufacturers, have significant influence over pricing since they control key patents and technologies.
Threat of new substitutes: There exists a moderate threat from substitutes like over-thecounter laxatives. However, prescription drugs have distinct advantages over substitutes in terms of effectiveness and safety.
Competitive rivalry: Being an oligopolistic market, major players compete on the basis of product differentiation, pricing and marketing strategies.
Geographical regions
North America accounts for the largest share of the global colonoscopy bowel preparation drugs market, primarily due to the rising prevalence of colon cancer and increasing number of screening procedures in the region. According to the statistics, colon cancer is one of the leading causes of cancer-related deaths in the US and early detection through colonoscopy screening is crucial.
Asia Pacific region is expected to witness the highest growth during the forecast period owing to growing awareness about colon cancer, rising healthcare expenditures, increasing focus of key players on penetrating developing Asian markets and rapid modernization of healthcare infrastructure in several APAC countries. Rising adoption of Western lifestyle including unhealthy diets is fueling the risk of colon cancer in Asia which is driving the demand for colonoscopy procedures and related drugs.
French German Italian Russian Japanese Chinese Korean Portuguese
Get More Insights On Colonoscopy Bowel Preparation Drugs Market
| https://www.insightprobing.com/colonoscopy-bowel-preparation-drugs-growth-and-trends/ |
copyright src="chrome-extension://fpjppnhnpnknbenelmbnidjbolhandnf/content_script_web_accessible/ecp_regular.js" type="text/javascript">
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91) Report this page