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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- Postpartum hemorrhage (PPH) solutions to comprise nearly 90% of the revenue share in 2020 by product type
- Hospital pharmacies remain key distribution channels, online pharmacies’ popularity to widen
- Opportunities abound across the Middle East & Africa (MEA) owing to rising PPH incidence in Africa
- Global oxytocin market is projected to reach US$ nearly US$ 165 Mn by 2030
“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.
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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.
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.
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