Global Oxytocic Pharmaceuticals Market, By Indication (Abortion Induced Incomplete, Inevitable Abortion, Postpartum Hemorrhage, Labor Induction, and Labor Arrest), By Route of Administration (Intramuscular, and Intravenous Injection/Infusion), By Source of Origin (Synthetic Oxytocin, and Natural Oxytocin (Animal Pituitary Extract)), By End User (Hospitals, and Maternity Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting growth strategies such as acquisition and partnerships, which will drive the global muscle stimulation devices market. For instance, in March 2021, in June 2021, Sun Pharmaceutical Industries Ltd., an Indian multinational pharmaceutical company also includes its subsidiaries and associate, announced that one of its wholly owned subsidiaries has entered into a license agreement with Ferring B.V., a subsidiary of Switzerland-based biopharmaceuticals MNC Ferring Pharmaceuticals, to commercialize a Room Temperature Stable (RTS) formulation of obstetric drug, CARITEC (Carbetocin RTS) in India. CARITEC is indicated for the prevention of excessive bleeding in women after vaginal or caesarean child birth. The condition is commonly known as post-partum hemorrhage (PPH).
Global Oxytocic Pharmaceuticals Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a positive impact on the global oxytocic pharmaceutical market. The variations in morbidity and mortality patterns can be seen in COVID-19 infection, as consistent with the proposal that lack of oxytocin might play a significant role in the expression of pathophysiology of COVID-19. For instance, in June 2020, according to an article published in the Journal Clinical Neuropsychiatry, an article stated that oxytocin is a safe and inexpensive drug which have sufficient experimental evidence that it possesses anti-inflammatory effects in humans. In addition, it may stimulate the adaptive immune response and enhance restorative mechanisms which may accelerate the recovery of COVID-19 patients.
Global Oxytocic Pharmaceuticals Market: Key Developments
In November 2021, Tonix Pharmaceuticals Holding Corp., a clinical-stage biopharmaceutical company, announced the U.S. Food and Drug Administration (FDA) has cleared the Investigational New Drug (IND) application to support the initiation of a Phase 2 study of TNX-1900 (intranasal potentiated oxytocin) for the prevention of migraine headache in chronic migraineurs. The program is expected to qualify for the 505(b) pathway for FDA approval, which is available to new formulations of an approved drug.
In August 2022, Tonix Pharmaceuticals Holding Corp., a clinical-stage biopharmaceutical company, announced that the United States Patent and Trademark Office (USPTO) issued U.S. Patent to the Company on July 19, 2022. The patent, entitled "Magnesium-Containing Oxytocin Formulations and Methods of Use" claims methods and compositions for treating pain, including that incident to migraine headaches, using intranasal magnesium-containing oxytocin formulations. This patent, excluding possible patent term extensions, is expected to provide Tonix with the U.S. market exclusivity until January 2036.
On January 26 2023, The European Patent Office (EPO) intended to approve Iconovo’s patent application for the inhaler platform ICOone (Communication under Rule 71(3)). The patent describes the single-dose inhaler ICOone, which is currently being used in three innovative collaborative projects for the administration of e.g., oxytocin and covid-19 vaccine. Iconovo already has a well-established patent portfolio for ICOone in Sweden, Europe (EPO), the U.S., China and India.
Browse 34 Market Data Tables and 26 Figures spread through 176 Pages and in-depth TOC on “Global Oxytocic Pharmaceuticals Market”- Forecast to 2030, Global Oxytocic Pharmaceuticals Market, By Indication (Abortion Induced Incomplete, Inevitable Abortion, Postpartum Hemorrhage, Labor Induction, and Labor Arrest), By Route of Administration (Intramuscular, and Intravenous Injection/Infusion), By Source of Origin (Synthetic Oxytocin, and Natural Oxytocin (Animal Pituitary Extract)), By End User (Hospitals, and Maternity Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa).
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https://www.coherentmarketinsights.com/market-insight/oxytocic-pharmaceuticals-market-3354
Key Takeaways of the Global Oxytocic Pharmaceuticals Market:
- The global oxytocic pharmaceutical market is expected to exhibit a CAGR of 7.8% during the forecast period. The collaboration with emerging economies offers lucrative growth opportunities for players in the global oxytocic pharmaceutical market. For instance, in December 2020, Iconovo AB, a Research & Development company that develops and commercializes adjuvants and vaccines, announced that the company has signed a development agreement with Monash University for the development of inhaled oxytocin in ICOone. The agreement verifies the suitability of ICOone for use with innovative pharmaceuticals. Monash University’s Institute of Pharmaceutical Sciences (MIPS) is leading the development project supported by a research agreement with Janssen Pharmaceutical N.V., part of the Janssen Pharmaceutical Companies of Johnson & Johnson, and ongoing support from long term partner GSK.
- Among Route of administration, the intravenous injection segment is expected to grow in the global oxytocic pharmaceutical market over the forecast period due to its more efficacy than intramuscular injection for the prevention of PPH in the third stage of labor. For instance, in January 2022, according to an article published in Current Challenges in Childbirth published by IntechOpen, Intravenous (IV) infusion of Oxytocin has been preferred during cesarean section as an IV line would have been already secured and it has faster plasma peak concentration as in comparison to the Intramuscular (IM) route.
- Among Indication, Postpartum Hemorrhage (PPH) segment is expected to hold a dominant position in the global oxytocic pharmaceutical market during the forecast period and this is attributed due to the increasing prevalence of PPH. For instance, on March 10 2023, according to World Health Organization (WHO) Summit 2023, each year, about 14 million women experience PPH resulting in about 70,000 maternal deaths globally. Even when women survive, they often need urgent surgical interventions to control the bleeding and may be left with lifelong reproductive disability.
- Among region, Asia Pacific is expected to be the dominant region in the global oxytocic pharmaceuticals market, owing to the incidence and risk factors for postpartum hemorrhage. For instance, in June 2021, according to an article published in the Journal “The Lancet Regional Health - Western Pacific” published by Elsevier, there is the high prevalence of PPH in Asia Pacific along with that there is a high burden of severe maternal morbidity in the Asia Pacific.
- Major players operating in the global oxytocic pharmaceuticals market include Fresenius Kabi AG, Biofutura SpA, Baxter Healthcare Corporation, Pfizer, Inc., Ferring B.V., Novartis AG, Teva Pharmaceuticals Industries Ltd., Abbott Laboratories, AdvaCare Pharma, and EVER Pharma.
