Market Research Future (MRFR) has published a cooked research report on the “global PEG 3500 market” that contains the information from 2022 to 2030.
MRFR recognizes the following companies as the key players in the global PEG 3500 market— Pendopharm (Canada), Bayer AG (Germany), Merck KGaA (US), Lupin Pharmaceuticals, Inc. (India), Breckenridge Pharmaceutical, Inc. (US), Teva Pharmaceutical Industries Ltd. (Israel), LGM Pharma (US), McKesson Corporation (US), Sisco Research Laboratories Pvt. Ltd. (India), BASF SE (Germany), and others.
PEG 3500 Market is projected to reach USD 2.73 billion by 2030 at 6.29% CAGR during the forecast period 2022-2030.
Polyethylene glycol 3350 is in a class of medications called osmotic laxatives. Its main role is to cause water to be retained in the stool. This increases the number of bowel movements and softens the stool, making it easier to pass. It is commonly used to treat constipation, before medical tests of the colon and rectum, before colorectal surgery, and after surgery to alleviate constipation.
The rising prevalence of colon cancer in India and other developing nations is one of the major factors driving the growth of the global PEG 3350 market. Likewise, the rising number of strategic initiatives is further fueling the growth of the global market during the review period. However, side effects associated with PEG 3500 are anticipated to hamper the growth of the global market. Nevertheless, market expansion in developing regions is expected to create lucrative opportunities for the players operating in the global PEG 3350 market.
The global PEG 3500 market has been segmented based on product type, age, application, and distribution channel.
On the basis of product type, the market is segmented into powder and bowel preparation kit. The powder segment held the largest market in 2021, with a market share 63.41%.
Based on age, the global PEG 3500 market has been segmented into pediatric, adult, and geriatric. The adult segment held the largest market in 2021 and pediatric is projected to be the fastest growing during the forecast period.
On the basis of application, the market is segmented into constipation, medical tests, and surgery. The constipation segment held the largest market in 2021, with a market share 76.68%.
Based on distribution channel, the market is segmented into online pharmacy and offline pharmacy. The offline pharmacy segment held the largest market in 2021 and is projected to be the fastest growing segment during the forecast period.
Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of PEG 3500 Market Research Report
The global PEG 3500 market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe PEG 3500 market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The PEG 3500 market in Asia-Pacific has been segmented into China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific. The Rest of the World PEG 3500 market comprises of Middle East, Africa, and Latin America.
In North America, the rising prevalence of colorectal cancer and other diseases such as diabetes, cancer, and neurological disorders further increase the demand for PEG 3500, propelling the region's growth. According to the Government of Canada, approximately 36.3% of adults were reported to have obesity in 2018. In addition, the increasing prevalence of colon cancer further increases the chances of colorectal cancer surgery.
Moreover, the sedentary lifestyle and physical inactivity among the European population are the major factors fueling the region's market growth. The increasing adoption of a sedentary lifestyle further increases the chance of colon cancer. Moreover, Colorectal cancer is the most common form of cancer in Europe. As per the World Cancer Research Fund International, Hungary had the highest colorectal cancer number, followed by Slovakia in 2020 globally. Therefore, increasing sedentary lifestyles and the rising prevalence of colorectal cancer in Europe further fuel the region’s market growth.
Additionally, the increasing colorectal cancer in the region, unhealthy diet and lifestyle habits and increasing colorectal cancer among the Indian population further boosts the region’s market growth. As per the World Obesity Atlas 2022, more than 39 million men and 69 million women will be at risk of obesity-related complications in Southeast Asia by 2030. Furthermore, according to the Organization for Economic Cooperation and Development (OECD), colorectal cancer is the second most diagnosed cancer in men and the third most common cancer in women in the Asia-Pacific region.
The rest of the world PEG 3500 market is comprised of the Middle East, Africa, and Latin America. The prevalence of constipation in the Middle East and Latin America is continuously increasing, owing to a lack of awareness associated with the right diet. Moreover, as per the research, colorectal cancer is increasing in the Middle East in young and older adults and causes frequent constipation among children, further fueling the region's market growth.
Key Findings of the Study
Pendopharm (Canada), Bayer AG (Germany), Merck KGaA (US), Lupin Pharmaceuticals, Inc. (India), Breckenridge Pharmaceutical, Inc. (US), Teva Pharmaceutical Industries Ltd. (Israel), LGM Pharma (US), McKesson Corporation (US), Sisco Research Laboratories Pvt. Ltd. (India), BASF SE (Germany), and others.