New York, USA, May 03, 2023 (GLOBE NEWSWIRE) -- PEG 3500 Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “PEG 3500 Market Information by Product Type, Age, Application, Distribution Channel, End User and Region - Forecast till 2030”, the market size was valued at USD 1.59 billion in 2021 and is projected to grow from USD 1.67 billion in 2022 to USD 2.73 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.29% during the forecast period (2022 - 2030).
Market Scope:
Polyethylene glycol (PEG) is a chemical that has uses in both business and medicine. Because many PEG compounds are hydrophilic, they are utilized industrially in cosmetic goods as surfactants, emulsifiers, cleaning agents, humectants, and skin conditioners. PEG is a medication that falls within the laxative category. Constipation in patients is one of the FDA-approved indications. For treating persistent constipation and diarrhea, PEG is preferred over other medications since it has fewer side effects and a better flavor profile. PEG laxatives are less dangerous than PEG electrolyte lavage solutions since there is no salt absorption. The PEG 3500's growth is being affected by a number of issues. Colon cancer rates are rising in India and other developing countries, and there are more strategic measures.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 2.73 billion |
| CAGR | 6.29% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by Product Type, Age, Application, Distribution Channel, End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | increasing the number of strategic initiatives in the form of mergers, acquisitions, product approval, collaborations, and partnerships |
| Rising prevalence of colon cancer |
PEG 3500 Market Competitive Analysis
Leading industry players are investing a lot of money in R&D to broaden their product offerings, which will encourage further market expansion of the PEG 3500. Moreover, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and collaborating with other organizations in order to expand their global presence. Cost-effective products are necessary for competitors in the PEG 3500 market to grow and thrive in a more cutthroat and competitive market environment.
The key players include 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.
Colon cancer is becoming more common in India and other emerging countries, which spurs market expansion. Colon cancer is becoming more common in India and other developing countries. Colon cancer cases are rising rapidly in nations like India, China, and Japan. In order to acquire a competitive advantage and provide cutting-edge treatment options for sporadic constipation, there has also been an increase in the number of strategic activities in the form of mergers, acquisitions, product approval, collaborations, and partnerships. Hence, increased initiative methods and an increase in the occurrence of colon cancer in emerging countries are what are fueling the market's expansion.
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PEG 3500 Market Segmentation
The powder and bowel preparation kit are included in the PEG 3500 Market segmentation based on product type. In 2021, the powder category had the biggest market share.
Age-based segments for the PEG 3500 Market statistics include pediatric, adult, and geriatric. In 2021, the adult category held the biggest market share, and during the projected period, pediatrics will have the fastest growth.
Based on application, the PEG 3500 Market data has been divided into sections for constipation, diagnostic procedures, and surgery. The medical testing sector is expected to increase at a higher rate over the forecast period than the constipation category, which had the biggest market share in 2021.
The worldwide PEG 3500 market has been divided into the online pharmacy and the offline pharmacy based on the distribution channel. The offline segment held the largest market share in 2021.
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PEG 3500 Market Regional Analysis
Due to the increased incidence of colorectal cancer and other ailments including diabetes, cancer, and neurological disorders, the North American PEG 3500 market held the biggest market share in 2021, fueling the expansion of the region.
Because to the growing adoption of a sedentary lifestyle, which further raises the risk of colon cancer, Europe holds the second-largest market share for PEG 3500. Also, in 2021, the Germany PEG 3500 market had the most market share and was anticipated to grow at the quickest rate.
The expanding elderly population, adoption of sedentary lifestyles and physical inactivity, as well as the increased frequency of colorectal cancer, are all likely to contribute to the Asia-Pacific market of PEG 3500 growing at a substantial rate from 2022 to 2030. Moreover, the Asia-Pacific region's market in India is anticipated to develop at the highest rate, while the market in China had the greatest market share.
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