diff --git a/src/sqlalchemy_declarative_extensions/sqlalchemy.py b/src/sqlalchemy_declarative_extensions/sqlalchemy.py
index b766710..d3ecf68 100644
--- a/src/sqlalchemy_declarative_extensions/sqlalchemy.py
+++ b/src/sqlalchemy_declarative_extensions/sqlalchemy.py
@@ -1,5 +1,6 @@
 from __future__ import annotations
 
+import re
 from typing import Callable, TypeVar
 
 import sqlalchemy
@@ -50,8 +51,12 @@ def dispatch(connection: Connection, *args: P.args, **kwargs: P.kwargs) -> T:
     return dispatch
 
 
+# https://github.com/sqlalchemy/sqlalchemy/blob/2e9902a34fafff0ac6d6c521a86c7dea3d96a392/lib/sqlalchemy/sql/elements.py#L2334
+_sqlalchemy_bind_params_regex = re.compile(r"(?<![:\w\x5c]):(\w+)(?!:)", re.UNICODE)
+
+
 def escape_params(query: str) -> str:
-    return query.replace(":", r"\:")
+    return _sqlalchemy_bind_params_regex.sub(r"\\:\1", query)
 
 
 if version.startswith("1.3"):
diff --git a/tests/view/test_escaped_bindparam.py b/tests/view/test_escaped_bindparam.py
index 1f5724d..cf34f2d 100644
--- a/tests/view/test_escaped_bindparam.py
+++ b/tests/view/test_escaped_bindparam.py
@@ -6,7 +6,11 @@
     register_sqlalchemy_events,
     view,
 )
+from sqlalchemy_declarative_extensions.alembic.view import UpdateViewOp
+from sqlalchemy_declarative_extensions.dialects import postgresql
+from sqlalchemy_declarative_extensions.dialects.postgresql import View
 from sqlalchemy_declarative_extensions.sqlalchemy import declarative_base
+from sqlalchemy_declarative_extensions.view.compare import compare_views
 
 _Base = declarative_base()
 
@@ -41,3 +45,9 @@ def test_escape_bindparam_postgres(pg):
 
     result = pg.execute(text("select * from bar")).fetchall()
     assert result == []
+
+    # Make sure that bindparams escaping doesn't create unnecessary escapes
+    # for the literal casts that appear after view definition round-tripping
+    rendered = View("simple_select", "SELECT 'a' as col1").render_definition(pg.connection())
+    assert "::" in rendered, "Literals in the view definition are expected to get explicit type casts"
+    assert "\\:\\:" not in rendered, "Bind parameters escaping should leave type casts unescaped"