PUBLISHER: Market Research Future | PRODUCT CODE: 1517287
PUBLISHER: Market Research Future | PRODUCT CODE: 1517287
Global PEG 3350 Market Research Report Information by Product Type (Powder, Bowel Preparation Kit) by Age (Pediatric, Adult, and Geriatric) by Application (Constipation, Medical Tests, [Colonoscopy and Barium Enema X-Ray Examination], and Surgery) by Distribution Channel (Online Pharmacy, Offline Pharmacy), by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2032
In 2023, the market size of PEG 3350 was estimated to be USD 1.92 billion. During the forecast period (2024-2032), the PEG 3350 Market industry is anticipated to experience a compound annual growth rate (CAGR) of 6.63%, increasing from USD 2.08 billion in 2024 to USD 3.71 billion by 2032. The market growth is being driven by the increasing prevalence of colon cancer in India and other developing nations, the increasing number of strategic initiatives, and the increasing sedentary lifestyle and physical inactivity.
Colon cancer is becoming more prevalent on a global scale. For example, the Lancet Regional Health Southeast Asia article indicates that colorectal cancer is the seventh most prevalent cancer in India, with 65,358 new cases in 2021. The global incidence of colon cancer has been on the rise, with a current rate of 19.5 per 100,000 population and 15.2 per 100,000 population in India. In the same vein, the evolving lifestyles that encompass the consumption of calorie-rich and low-fiber diets, the excessive consumption of red meat and processed foods, and physical inactivity. Additionally, the age-sex-adjusted rates of colon cancer in India have increased by 20.6%, with a significant increase in the number of adults under the age of 50.
Consequently, the demand for PEG 3350 is expected to rise in response to the increasing prevalence of colon cancer. The PEG 3350 markets are anticipated to be driven by the cumulative prevalence of colon cancer, as well as changing lifestyle habits, including the increasing consumption of alcohol and tobacco products, the rising rates of smoking, and poor dietary habits among the population, during the forecast period.
Market Segment Insights
Powder and digestive preparation kit-based market segmentation for the PEG 3350.
Age is the basis for market segmentation, which encompasses pediatric, adult, and geriatric categories.
The PEG 3350 Market segmentation is determined by the application, which encompasses medical tests and constipation. and surgery.
The market segmentation is determined by the distribution channels, which encompass both online and offline pharmacies.
Regional Perspectives
The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World by region. In 2022, the North American PEG 3350 market held the highest market share. This is a result of the increasing prevalence of colorectal cancer and other diseases, including diabetes, cancer, and neurological disorders, in the North American region.
The second-largest market share in the Europe PEG 3350 market is attributed to the increasing prevalence of colorectal cancer and the increasing adoption of a sedentary lifestyle throughout the region. In addition, the German PEG 3350 Market was identified as the greatest market share and is anticipated to be the fastest-growing market in the European region.
It is anticipated that the Asia-Pacific PEG 3350 market will experience substantial growth from 2024 to 2032. This is a result of the increasing prevalence of colorectal cancer in the Asia-Pacific region, the adoption of sedentary lifestyles and physical inactivity, and the growing geriatric population. Additionally, it is anticipated that the China PEG 3350 Market will possess the highest market share, while India is anticipated to follow suit. The PEG 3350 Market is anticipated to be the fastest-growing market in the Asia-Pacific region.
The Middle East, Africa, and Latin America comprise the Rest of the World. The PEG 3350 Market in the regions is expected to experience growth as a result of the lack of awareness associated with the appropriate diet. Additionally, the research indicates that colorectal cancer is on the rise in the Middle East among young and older individuals, and it is a primary cause of frequent constipation in children, which is further contributing to the region's market growth.
Teva Pharmaceutical Industries Ltd (Israel), LGM Pharma (US), McKesson Corporation (US), Sisco Research Laboratories Pvt. Ltd. (India), BASF SE (Germany), Merck KGaA (US), Bayer AG (Germany), Lupin Pharmaceuticals, Inc (India), Breckenridge Pharmaceutical, Inc. (US), and Pendopharm (Canada) are among the key companies in the PEG 3350 Market.