Market players are focusing on presenting anesthetic oxytocin solutions to decrease labor induced snags for C-section operations.
Industry interest in the neuropeptide hormone oxytocin has surged on the back of the profound role it has in human evolution. The peptide hormone is implicated in numerical physiological processes. The global oxytocin market is slated to record a CAGR of 8.4% over the projected period, 2020-2030. The market growth is majorly underpinned by growing prevalence of pregnancy problems amid women across numerous regions. Furthermore increasing focus on averting PPH incidences will be driving demand for oxytocin.
“Initiatives by government to promote children and women’s health are supporting global efforts to enhance maternity care all over healthcare settings, thus opening notable growth prospects for the market,” comments the FMI analyst.
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Oxytocin Market – Important Highlights
- MEA region will generate huge growth prospects due to unceasing efforts by government authorities to found an equitable healthcare system as well as provide improved treatment to women.
- Postpartum hemorrhage (PPH) is likely to remain lucrative all over the assessment period.
- Hospital pharmacies will remain key beneficiary among other distribution channel as the segment is key point of contact for availing prescribed oxytocin regulating drugs.
Oxytocin Market – Drivers
- Rising emphasis on antenatal care is generating growth prospects in the global market
- Increasing complications in pregnancy due to high fatality rates, has boosted demand for synthetic oxytocin production across the globe.
- Rising focus on postpartum hemorrhage treatment is encouraging market expansion over the forecast period.
Oxytocin Market – Restraints
- Stringent curbs and regulations to limit its usage might act as a deterrent to the growth trajectory of oxytocin market.
- High cost associated with the usage can hinder the market growth.
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COVID-19 Impact on Oxytocin Market
Initially, a blip was experienced by healthcare providers with regard to oxytocin treatment as the industry reoriented its priorities to care for COVID infected patients. However, governments have realized the importance of maternal care and are thus directing healthcare providers to equally accommodate their resources. Moreover, experts are also considering oxytocin as a treatment option for the coronavirus.
The oxytocin market is extremely fragmented, due to the existence of several regional and international players who are engaged in several expansion strategies, incorporating licensing agreements, product launches, collaborations, acquisitions and partnerships. Leading market players operating in the global market include Pfizer Inc., Ferring B.V., Novartis AG, Hikma Pharmaceuticals PLC, Fresenius Kabi LLC, Teva Pharmaceuticals Ltd., Endo International Plc. (Par Sterile Products, LLC), Wockhardt Ltd., Mylan N.V., Yuhan Corporation and Sun Pharmaceutical Industries Ltd.