The oxytocin market is set to grow over 8% by 2030, driven by PPH solutions and regulatory challenges. Hospital pharmacies remain key, with opportunities in MEA.
ESOMAR certified consulting firm Future Market Insights (FMI) has recently published an exhaustive yet unbiased report on the global oxytocin market, highlighting the prominent parameters responsible for steering growth in the long-run. The study opines global oxytocin sales to grow at over 8% through 2030, with growing focus on preventing PPH incidences expected to drive demand.
While the frequency of childbirths is increasing, the number of complications faced by women are also compounding. The Center for Disease Control and Prevention estimates that over 50,000 women across the U.S endure life-threatening complications.
Consequently, healthcare providers are incorporating solutions aimed at reducing trauma faced by patients which include numerous approaches. A common complication faced by women is postpartum hemorrhage, for which oxytocin treatment is a highly preferred option. A value CAGR exceeding 8% is projected for the market through 2030.
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Key Takeaways
“Government initiatives to promote women and children’s health are bolstering global efforts to improve maternity care across healthcare settings, thereby opening significant growth avenues for the global oxytocin market,” comments the FMI analyst.
COVID-19 Impact Analysis
As the COVID-19 pandemic intensified, the global medical fraternity is facing immense challenges as resources are being redirected towards eradicating the deadly virus. Consequently, other treatment areas have been relegated to the backseat, including maternity care. This is a cause of concern amongst leading healthcare specialists.
Therefore, efforts are being made towards ensuring adequate and proper treatment to pregnant women across all regions. Furthermore, oxytocin has also been touted as an effective anti-viral agent, thus raising optimism that it could be effectively leveraged to promote drug or vaccine development.
The National Center for Biotechnology Information hypothesizes that oxytocin contains dipeptidyl peptidase-4 (DPP4) protease inhibitors could be effective against the existing novel coronavirus strain. It further propagates that enhancing endogenous oxytocin levels could increase viral resistance and improve health of vulnerable groups.
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The Impact of Tight Regulations
While oxytocin usage is widely approved to alleviate pain during childbirth by contracting the uterus, reports concerning its misuse have prompted governments to issue strict regulations for its usage. Excessive oxytocin levels may aggravate stress levels instead. Thus, governments are looking to restrict its usage through regulations.
In 2018, for instance, the Ministry of Health and Family Welfare in India called for a total ban on the production of synthetic oxytocin by private companies, instead entrusting the task to a single dedicated body in limited quantities. To that end, the Central Drugs Standard Control Organization seized over a million ampoules for use on animals.
Such regulations and curbs are anticipated to act as a deterrent to future oxytocin market growth trajectory in the upcoming 2020-2030 assessment period as manufacturers have to spend a considerable amount of resources to comply with said regulations.
Competitive Landscape
Prominent players in the global oxytocin market include Pfizer Inc., Novartis AG, Ferring B.V., Fresenius Kabi LLC, Hikma Pharmaceuticals PLC, Endo International Plc. (Par Sterile Products, LLC), Teva Pharmaceuticals Ltd., Mylan N.V., Wockhardt Ltd., Sun Pharmaceutical Industries Ltd. and Yuhan Corporation.
The market is highly fragmented, peppered with numerous regional and global level market players. These players largely concentrate on forging strategic collaborations with existing players, regional distributors, product launches and acquisitions. Most players are concentrating on offering anesthetic oxytocin solutions to reduce labor induced complications for C-section operations.
More Insights on FMI’s Oxytocin Market Report
Future Market Insights (FMI) brings the comprehensive research report on forecast revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The study provides compelling insights on oxytocin market on the basis of indication (antepartum and postpartum) and distribution channel (hospital pharmacies, retail pharmacies, drug stores and online pharmacies) across seven major regions.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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The article discusses the growth and challenges of the global oxytocin market projected to expand over 8% by 2030.
COVID-19 has redirected resources, affecting maternity care, but oxytocin shows potential as an anti-viral agent.
Strict regulations on oxytocin use due to misuse concerns may hinder market growth.
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