Oxytocic drugs play a crucial role in stimulating uterine activity and controlling postpartum bleeding, making them essential in obstetrics and gynecology. These drugs are administered through intramuscular injections or intravenous infusions. While natural oxytocin is extracted from animal pituitary glands, synthetic oxytocin, produced synthetically to mimic the hormone's effects, has gained approval from the U.S. Food and Drug Administration (FDA). The availability of both natural and synthetic oxytocin options provides healthcare providers with flexibility in choosing the appropriate form for patients.
According to Data Bridge Market Research, the Oxytocic Pharmaceutical Market accounted for CAGR of the oxytocic pharmaceutical market is tend to be around 8.2% in the mentioned forecast period. The market was valued at USD 106.69 million in 2022, and it would grow up to USD 200.42 million by 2030.
“Increasing cases of childbirth through labor induction”
The global oxytocic pharmaceuticals market is expected to witness growth during the forecast period due to the increasing trend of labor induction in childbirth. The rising cases of labor induction, such as in the United States where rates increased by 40% from 1997 to 2017 according to the National Perinatal Information Center, contribute to the demand for oxytocic pharmaceuticals. This trend drives the market's expansion as healthcare providers utilize these medications for inducing and augmenting labor.
What restraints the growth of the oxytocic pharmaceutical market?
“Presence of alternative drugs”
The global oxytocic pharmaceuticals market may face challenges in its growth due to the wide availability of alternative drugs such as misoprostol and magnesium sulphates. Misoprostol, recommended by the World Health Organization (WHO), is considered a low-cost and evidence-based alternative to oxytocin. The availability and endorsement of these alternatives provide healthcare providers and patients with additional options for managing conditions requiring oxytocic treatment.
Segmentation: Oxytocic Pharmaceutical Market
The oxytocic pharmaceutical market is segmented on the basis of product type, treatment, source of origin, natural oxytocin, and end-user.
- On the basis of treatment, the oxytocic pharmaceutical market is segmented into pre-eclampsia/eclampsia, postpartum haemorrhage, and others.
- On the basis of product type, the oxytocic pharmaceutical market is segmented into abortion induced incomplete, inevitable abortion, postpartum haemorrhage, labor induction, and labor arrest.
- On the basis of source, of origin the oxytocic pharmaceutical market is segmented into synthetic oxytocin.
- On the basis of natural oxytocin, the oxytocic pharmaceutical market is segmented into animal pituitary extract.
- On the basis of end-user, the oxytocic pharmaceutical market is segmented into hospitals, specialty clinics, diagnostic centers, and others.
Regional Insights: America Dominates the Oxytocic Pharmaceutical Market
America dominates the market for various medical conditions, including the one being discussed, due to the increasing awareness and understanding of the severity of the disease among patients and healthcare providers.
Asia-Pacific region holds significant potential in the market due to the high incidence of post-partum haemorrhage, well-developed healthcare infrastructure, and growing awareness about pregnancy-related aspects. These factors create a lucrative period for the market's growth in the region.
To know more about the study visit, https://www.databridgemarketresearch.com/es/reports/global-oxytocic-pharmaceutical-market
Recent Developments in Oxytocic Pharmaceutical Market
- In July 2019, Dr. Reddy's Laboratories introduced Carboprost Tromethamine Injection USP, a generic alternative to Pfizer's Hemabate. This medication is available in a dosage strength of 250mcg/mL (1mL). The launch of this generic version provides healthcare providers and patients with a more affordable option for the treatment of various conditions where carboprost tromethamine is indicated, contributing to increased accessibility and potential cost savings in healthcare.
The Prominent Key Players Operating in the Oxytocic Pharmaceutical Market Include:
- Fresenius Kabi AG (Germany)
- Biofutura (Netherlands)
- Abbott (U.S.)
- JHP Pharmaceuticals (U.S.)
- Baxter (U.S.)
- Pfizer Inc. (U.S.)
- Ferring B.V. (Switzerland)
- Novartis AG (Switzerland)
- Teva Pharmaceutical Industries Ltd (Israel)
Above are the key players covered in the report, to know about more and exhaustive list of oxytocic pharmaceutical market companies contact, https://www.databridgemarketresearch.com/es/contact
Research Methodology: Global Oxytocic Pharmaceutical Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
