In 2023 the Oxytocic Pharmaceuticals Market is expected to be worth US$ 114.58 million. The oxytocic pharmaceuticals industry is anticipated to develop at a CAGR of 7.8% from 2023 to 2033, reaching a value of US$ 242.83 million.
The expanding trend of giving birth in hospitals and the rise in cesarean operations significantly contribute to the expansion of oxytocic pharmaceuticals. In obstetrics, oxytocic medications serve multiple purposes, such as labor induction, labor arrest motion, contraction stress testing, labor management, and treating uterine atony and postpartum hemorrhage. In cases of early delivery, these medications can be employed to terminate the embryo.
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The Rise of Induced Labor and Its Implications
Increased labor induction during childbirth is anticipated to promote the growth of the global oxytocic medicines market during the forecast period.
According to research published in January 2019 by the National Perinatal Information Centre, the United States’ labor induction rate increased by 40% between 1997 and 2017.
The Rising Tide of Postpartum Bleeding
Rising postpartum hemorrhage rates are predicted to aid in the oxytocic pharmaceuticals market expansion. A study published in the January 2019 issue of the journal PLoS One titled ‘Incidence and risk factors for postpartum hemorrhage among transvaginal deliveries at a tertiary perinatal medical facility in Japan’ revealed that postpartum hemorrhage was 8.7%. Furthermore, the study found that the incidence of severe postpartum hemorrhage was 2.1%.
Realm of Alternative Medications
The expansion of the oxytocic pharmaceutical market is anticipated to be hindered by the accessibility of many alternative medications. Misoprostol and magnesium sulfates are some oxytocic drug substitutes. The WHO suggests misoprostol as a low-cost, scientifically supported substitute for oxytocin.
The Rising Curtain of Emerging Quality Issues in Drug Manufacturing
The market is expected to expand slowly due to many quality problems with oxytocin formulations. Many oxytocic pharmaceutical manufacturers fail to achieve WHO prequalification, which results in the market production of medications of inferior quality.
Key Takeaways
- With the leading market share of 67% in the end-use category of oxytocic medicines globally in 2023, the hospital segment is projected to attract more attention.
- According to estimates, the postpartum hemorrhage market holds more than 75% of the global oxytocic medicines market.
- During the projection period, North America is anticipated to expand at a CAGR of 4.9%.
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Competitive Landscape
The oxytocic pharmaceuticals market is very competitive, with only a few big players. The competitive landscape comprises an examination of a few foreign and domestic firms.
Many of these organizations pursue various market share-maintaining tactics, such as mergers, acquisitions, collaborations, product launches, etc.
Key Oxytocic Pharmaceuticals Manufacturers
- App Pharmaceuticals LLC
- Teva Parenteral Medicines Inc.
- Abbott Laboratories
- JHP Pharmaceuticals LLC
- Novartis Pharmaceuticals Corporation
- LBS Labs,
- Baxter Healthcare Corporation
- Pfizer Inc
- Fresenius Kabi
- Bio Futura
- Ferring
Key Segments
By Indication:
- Abortion Induced Incomplete
- Inevitable Abortion
- Postpartum Haemorrhage
- Labor Induction
- Labor Arrest
By Route of administration:
- Intravenous Infusion/Injection
- Intramuscular Injection
By Source of Origin:
- Natural Oxytocin
- Synthetic Oxytocin Derivative
By End User:
- Hospitals
- Maternity clinics
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan and China (APEJC)
- Japan
- China
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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