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Thursday, 21 July 2016
Report delivers insight into the Laxatives Market 2023,Credence Research
The latest market report published by Credence Research, Inc. “Global Laxatives Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016-2022,” the laxatives market was valued at USD 4,495.70 Mn in 2015, and is expected to reach USD 6,948.07 Mn by 2022, expanding at a CAGR of 5.6% from 2016 to 2022; where OTC drugs occupy the largest market share.
Market Insights Constipation is one of the most common conditions diagnosed in clinical practice, with up to one-fifth of the general population suffering from chronic constipation. Certain studies have reported 24% to 50% prevalence in older adults. It is also observed that between 10% and 18% geriatrics in community dwellings and 74% residents in nursing homes regularly use laxatives. Constipation can have significant impact on everyday functions and quality of life of patients. Severe cases of constipation may also lead to coronary episodes, cerebral ischemia and syncope. In order to mitigate the complications arising from uncontrolled or un-managed constipation, several types of laxatives are frequently prescribed to such patients, particularly to those belonging to the higher age group.
Among the various types of laxatives, several literatures indicate that osmotic laxatives demonstrate the best benefits to aged patients. Old age patients experience straining as dominant symptom of constipation. This symptom is well managed in majority of cases with administration of osmotic laxatives such as lactulose and polyethylene glycol. the polyethylene glycol laxatives market is expected to reach worth USD 1,271.98 Mn by 2022. The continuing expansion in the pool of geriatric population will increase the need for effective constipation management drugs.
In terms of geographic distribution, North America, constituting US and Canada is the largest regional market for laxatives. Largest contribution of North America in the overall pharmaceuticals market and higher prevalence of older adult constipation patients are the major characteristics of the region. Prevalence of constipation in the US is 1.9% to 27.2% with a median at 16%; whereas 50% to 74% elderly population under institutionalized care is reported to consume laxatives on a daily basis. High disease burden and ease of access to treatments is a prime growth driver for North America laxatives market. The North America laxatives market was valued at USD 2,171.41 Mn in 2015.
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