OXYTOCIC PHARMACEUTICALS MARKET ANALYSIS

Oxytocic Pharmaceuticals MarketSize and Trends

The global oxytocic pharmaceuticals market is estimated to be valued at US$ 128.43 million in 2023 and is expected to exhibit a CAGR of 7.8% during the forecast period (2023-2030).

Global muscle stimulation devices market – Driver

Increase birthrate and higher prevalence of postpartum hemorrhage (PPH)

Increasing incidence of PPH is expected to boost growth of the global oxytocic pharmaceuticals market over the forecast period. For instance, on March 3 2023, as per the December 2021 update from United Nations International Children's Emergency Fund (UNICEF), an estimated 140 million children were born in 2021. Furthermore, as per the August 2021 update from International Institute for Sustainable Development, the global population is projected to increase to 9.7 billion by 2050. This level represents a nearly 24% increase over 2020. Because of the increased birth rate and population levels, there is a high chance for growth of the oxytocin market since oxytocin is advised for antepartum and postpartum pregnancy.

Global Oxytocic Pharmaceuticals Market Segmentation:

The global oxytocic pharmaceuticals market report is segmented into Indication, Route of Administration, Source of Origin, End User and Region.

By Indication, the oxytocic pharmaceuticals market is segmented into Abortion Induced Incomplete, Inevitable Abortion, Postpartum Hemorrhage, Labor Induction, and Labor Arrest. Out of which, the Postpartum Hemorrhage (PPH) segment is expected to dominate the global oxytocic pharmaceuticals market during the forecast period and this is due to the increase in the prevalence of PPH.

By Route of Administration, the oxytocic pharmaceuticals market is segmented into Intramuscular, and Intravenous Injection/Infusion. The intravenous injection segment is expected to dominate the market over the forecast period and this is due to its rapid onset of action.

Based on Source of Origin, the oxytocic pharmaceuticals market is segmented into Synthetic Oxytocin, and Natural Oxytocin (Animal Pituitary Extract). The synthetic oxytocin segment is expected to dominate the market over the forecast period and this is created by altering the chemical structure of natural oxytocin. This alters the way the hormone works in the body. Some synthetic oxytocin derivatives are used to help pregnant women give birth, while others are used to treat conditions such as autism and schizophrenia and is expected to increase during the forecast period.

Based on End user, the oxytocic pharmaceuticals market is segmented into Hospitals, and Maternity Clinics. The hospitals segment is expected to dominate the market over the forecast period and this is attributed to the increasing prevalence of postpartum hemorrhage and increase in abortion.

Among all segmentation, the Indication segment has the highest potential due to the increasing prevalence of Labor Induction over the forecast period. For instance, in January 2022, according to an article published in the journal PLoS one, the Post-term pregnancy was the most common indication for induction of labor101 (35.6%), followed by PROM 71(25%), and hypertensive disorders 58 (20.4%). The overall prevalence of failed induction was observed to be 63 (22.2%).

Global Oxytocic Pharmaceuticals Market: Key Trends

Market players require WHO prequalification for the products that are to be supplied to the international organizations. Manufacturers who adhere to the WHO’s prequalification may have greater possibility to gain larger market share than the non-prequalified manufacturers.

Increasing adolescent pregnancies in Latin America is expected to lead to high demand for oxytocics for labor or abortion in the region. For instance, on June 2, 2023, according to the WHO, as of 2019, adolescents aged 15–19 years in low-and middle-income countries (LMICs) had an estimated 21 million pregnancies each year, of which approximately 50% were unintended and which resulted in an estimated 12 million births. Adolescent mothers (aged 10–19 years) face higher risks of eclampsia, puerperal endometritis and systemic infections than women aged 20–24 years, and babies of adolescent mothers face higher risks of low birth weight, preterm birth and severe neonatal condition

Problems with oxytocin preparations quality

Injectable oxytocin, given intravenously or intramuscularly, is recommended by the World Health Organization (WHO) as the first-line medicine for the prevention and treatment of postpartum haemorrhage. It is additionally used for the induction and augmentation of labour. Primary causes for substandard oxytocin quality are considered to be poor-quality manufacturing and/or product degradation in the supply chain. For instance, according to WHO (World Health Organization), 2021 report of Regulatory guidance for assessment and management of applications for marketing authorization of oxytocin, suggested the precautionary measures to be taken related to the supply chain, manufacturing and product degradation of Oxytocic pharmaceuticals. The causes of the issue with oxytocin preparations were also noted by the WHO