Oxytocic Pharmaceuticals Market - Forecast(2024 - 2030)
Oxytocic Pharmaceuticals Market Overview
The Oxytocic Pharmaceuticals Market size is estimated to reach $142.9 million by 2028, growing at a CAGR of 7.4% over the forecast period 2023-2028. Oxytocic pharmaceuticals include a category of medications utilized at the end of pregnancy, during labor and subsequent to delivery to bring about the smooth musculature of the uterus to contract selectively. Some of the top pharma companies in the U.S. dealing with oxytocic pharmaceuticals include Pfizer and Baxter. The extension of the pharmaceutical industry is contributing to the growth of the Oxytocic Pharmaceuticals Market. The oxytocic pharmaceuticals industry in APAC is being fueled by the soaring awareness regarding oxytocin use among healthcare professionals in Japan. The 2022 market pharma company list includes companies like Johnson & Johnson and Roche. The rising developments in newer oxytocic medicines through license agreements in the pharmaceutical industry are set to drive the Oxytocic Pharmaceuticals Market. The increasing antepartum oxytocin injection usage for better uterine contractions is set to propel the growth of the Oxytocic Pharmaceuticals Industry during the forecast period 2023-2028.
Oxytocic Pharmaceuticals Market Report Coverage
The “Oxytocic Pharmaceuticals Market Report - Forecast
(2023-2028)" by IndustryARC, covers an in-depth analysis of the
following segments in the Oxytocic Pharmaceuticals Market.
By Source Of Origin: Synthetic Oxytocin and Natural Oxytocin (Animal Pituitary
Extract).
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies,
Online Pharmacies and Others.
By Geography: North America (the U.S., Canada and Mexico), Europe (Germany, France, the UK,
Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South
Korea, India, Australia & New Zealand and the Rest of Asia-Pacific), South
America (Brazil, Argentina, Chile, Colombia and the Rest of South America) and the Rest
of the World (the Middle East and Africa).
Key Takeaways
- Geographically, North America (Oxytocic Pharmaceuticals market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2023-2028. It is due to the rising rate of labor induction and the existence of top pharma companies in the U.S. of the North American region.
- Oxytocic Pharmaceuticals Market growth is being driven by the rising pregnancy-related issues in developing countries. However, the knowledge of possible adverse effects of the application of oxytocic medications is one of the major factors hampering the growth of the Oxytocic Pharmaceuticals Market.
- Oxytocic Pharmaceuticals Market Detailed Analysis of the Strengths, Weaknesses and Opportunities of the prominent players operating in the market would be provided in the Oxytocic Pharmaceuticals Market report.
Oxytocic Pharmaceuticals Market Segment Analysis - by Source Of Origin
The Oxytocic Pharmaceuticals Market based on the source of origin can be
further segmented into Synthetic Oxytocin and Natural Oxytocin (Animal Pituitary
Extract). The Synthetic Oxytocin Segment held the largest share of the Oxytocic
Pharmaceuticals market in 2021. This growth is fueled by the surging
application of synthetic oxytocin (Pitocin® and Syntocinon®) for labor induction,
augmentation and third-stage management in the U.S. Pitocin is a synthetic
version of the hormone oxytocin, which the body naturally produces and is
responsible for cervical dilation and contractions. The promotion of uterine
smooth muscle contractility by synthetic oxytocin is further propelling the
growth of the Synthetic Oxytocin segment.
Furthermore, the Synthetic Oxytocin segment is estimated to grow at the fastest CAGR of 7.8% during the forecast period 2023-2028 because of the growing
induction of artificial labor through the application of medications like Pitocin and
additional contraceptives.
Oxytocic Pharmaceuticals Market Segment Analysis - by Distribution Channel
The Oxytocic Pharmaceuticals Market based on distribution channels can be
further segmented into Hospital Pharmacies, Retail Pharmacies, Online
Pharmacies and Others. The Hospital Pharmacies Segment held the largest share of the Oxytocic
Pharmaceuticals market in 2021. This growth is driven by the rising hospitalizations
for complexities connected to labor inducement, labor arrest, postpartum
hemorrhage and incomplete or inevitable abortions. The emerging growth in the
sales of both over-the-counter (OTC) and prescription pharmaceuticals is
further propelling the growth of this segment.
Furthermore, the Online Pharmacies segment is estimated to grow at the
fastest CAGR of 8.3% during the forecast period 2023-2028. It is because of the sizable
patient pool across the world favoring the acquisition of medications online
and having them delivered to their homes due to the unavailability of
specific medications in retail pharmacy stores.
Oxytocic Pharmaceuticals Market Segment Analysis - by Geography
The Oxytocic Pharmaceuticals Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America (Oxytocic Pharmaceuticals Market) dominated the Oxytocic Pharmaceuticals market with a 37% share of the overall market in 2021. The growth of this region is driven by the increasing incidence of postpartum hemorrhage and cases of incomplete abortions brought about by abortions in the North American region. The expansion of product portfolios of top pharma companies in the US with medications to treat postpartum hemorrhage during labor is further propelling the growth of the Oxytocic Pharmaceuticals Market in the North American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR over the forecast period 2023-2028. This growth is fueled by factors like regional technological advancements in the Asia-Pacific region. The boost in childbirths and the great application of oxytocin in India are further fueling the progress of the Oxytocic Pharmaceuticals market in the Asia-Pacific region.
Oxytocic Pharmaceuticals Market Drivers
Increase in Obstetric Hemorrhage Complications:
The Oxytocic Pharmaceuticals industry in APAC caters to an enormous patient pool. There is an increasing count of cases of postpartum hemorrhage in China. The Oxytocic Pharmaceutical industry is expanding as complications like acute postpartum hemorrhage are becoming more common. Obstetric hemorrhage is the most frequent and harmful birth-related complication. A blood loss of more than 500 mL estimated with vaginal delivery or more than 1000 mL estimated during cesarean delivery is known as postpartum hemorrhage (PPH). Regardless of the delivery method, the American College of Obstetrics and Gynaecology defined this condition as an accumulation of blood loss of more than 1000 mL with signs and symptoms of hypovolemia within 24 hours of the birth procedure. The increase in obstetric hemorrhage complications is therefore boosting the growth of the Oxytocic Pharmaceuticals Market during the forecast period 2023-2028.
Growing Healthcare Investment in Developed and Developing Nations:
Economic Times estimated that the Indian health tech market was worth
$1.9 billion in 2020. The Oxytocic Pharmaceutical industry is projected to
benefit from the growth of the healthcare industry. North American market
structure for the pharmaceutical industry is being modernized and expanded by industrialized
nations like the U.S. The growing healthcare investment in developed and
developing nations is therefore accelerating market expansion during the forecast
period 2023-2028.
Oxytocic Pharmaceuticals Market Challenges
Inaccurate Methods of Measuring Blood Loss in Obstetric Hemorrhage and Availability of Alternative Medications:
According to the American College of Obstetricians and Gynaecologists, the majority of maternal deaths in the U.S. (11% of all maternal deaths) are caused by postpartum hemorrhage. Significantly, 54–93% of maternal deaths are brought on by obstetric hemorrhage. According to studies, healthcare professionals' misestimation of the actual blood loss is a major factor contributing to the delayed bleeding response. Furthermore, the expansion of the global oxytocic pharmaceutical industry is anticipated to be affected by the availability of substitute medications. Misoprostol and magnesium sulfates are a few of those oxytocic drug substitutes. These issues are, thus, hampering the growth of the Oxytocic Pharmaceuticals Market.
Oxytocic Pharmaceuticals Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Oxytocic Pharmaceuticals Market. The top 10 companies in the Oxytocic Pharmaceuticals Market are:
- Fresenius Kabi
- APP Pharmaceuticals LLC
- Biofutura SpA
- Dr. Reddy’s Laboratories
- Pfizer Inc
- Ferring B.V.
- Novartis AG
- Teva Pharmaceutical Industries Ltd.
- Abbott Laboratories
- Baxter Healthcare
Recent Developments
- In September 2021, Hillrom and Baxter International Inc. declared that they have signed a legally binding agreement in which Baxter would buy Hillrom for $156 per share in cash. The combined equity would be valued at around $10.5 billion. The combined enterprise value would be around $12.4 billion.
- In July 2019, Dr. Reddy’s Laboratories indicated that it has introduced generic Carboprost Tromethamine injection in the U.S. This is utilized for aborting a pregnancy. The product is a generic version of Hemabate injection (Pfizer).
- In June 2019, Pfizer Inc. filed a definitive merger agreement with Array BioPharma. Pfizer would gain Array BioPharma for $48 per share in cash. This resulted in a complete enterprise value of an estimated $11.4billion.
Relevant Reports:
Report Code: HCR 98212
Report Code: HCR 0264
Report Code: HCR 0081
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