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Thursday, 21 July 2016
Latest report on Global Chronic Idiopathic Constipation Drugs Market 2023,Credence Research
The latest market report published by Credence Research, Inc. “Global Chronic Idiopathic Constipation (CIC) Drugs Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016-2022,” the chronic idiopathic constipation drugs market was valued at USD 1675.4 Mn in 2015, and is expected to reach USD 2570.8 Mn by 2022, expanding at a CAGR of 6.4% from 2016 to 2022.
Growing awareness and increasing incidence and prevalence of chronic idiopathic constipation – CIC are the major factors driving the CIC drugs market worldwide. Growth in demand for CIC drugs in Asia Pacific, coupled with the huge gap of unmet needs in the region is expected to serve as a significant opportunity in the global market during forecast period.
In terms of geographical distribution, North America captures over 40% share of the global market revenue. US is the largest national market for CIC drugs due to greater prevalence of lifestyle respective diseases, higher incidence of constipation, higher healthcare spending and rather greater adoption of pharmaceuticals for treating ailments. As per the National Institutes of Health (NIH) CIC affects approximately 63 Mn individuals in the US. On the other hand, growing awareness in the rapidly developing Asian countries such as China and India will create significant growth opportunities in the Asia Pacific market.
In terms of market segmentation by drug type, Lubiprostone drugs segment currently dominates the market. However, the segment due to its relatively lower efficacy, patent loss and growing competition from Linaclotide will lose its dominance in the upcoming future. The Linaclotide drugs market for CIC treatment is anticipated to grow at a CAGR of 7.7% during 2016 – 2022.
Analyzing the symptoms, constipation is not considered as a disease but a condition, side effect or syndrome. This factor greatly contributes to the lesser visits from patients to address the issue. Thus over 65% of the CIC drugs market is captured by OTC drugs segment. The OTC market is expected to continue to dominate the market at a CAGR of 6.6% during 2016 – 2022.
The CIC drugs market is currently open for further research and development and thus introduction of novel pharmaceutical solutions. Actavis, Chugai Pharmaceutical, Ferrin International, Synergy Pharmaceuticals and others are among the top payers active in the global chronic idiopathic constipation drugs market.
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