Increasing Consumer Awareness to Fuel Adoption of Oxytocic Pharmaceuticals Market
The global oxytocic pharmaceuticals market reached US$ 157.6 Mn in 2016.China, Asia Pacific excluding Japan and China (APEJC), and MEA collectively accounted for nearly 68.2% revenue share of the market in 2016. Surge in hospital based deliveries and easy accessibility of oxytocin are some of the major trends that are favouring the growth of the global oxytocic pharmaceuticals market. Oxytocin has wide range of therapeutic applications in maternal health and increase in female population resulting into increasing demand for oxytocic pharmaceuticals market.
Asia Pacific and MEA regions are highly populated. Increase in healthcare infrastructure and new products launch by various companies in these regions are expected to play an important role in driving growth of oxytocic pharmaceuticals market. The global oxytocic pharmaceuticals market expected to increase at a CAGR of 9.7% in terms of revenues during the forecast period -2026. China and APEJC will continue to be the leading markets during the forecast period.
Development of novel formulations of oxytocin fuelled the market in 2016 and will continue to do so in the forthcoming period. However, availability of other drugs to treat maternal health conditions will continue to pose challenges for growth of the market.
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On the basis of source of origin, synthetic oxytocin is expected to outsell natural oxytocin. Natural oxytocin is less preferred when compared with synthetic oxytocin due to its long extraction process and cost intensive. The synthetic oxytocin segment surpassed US$ 57.7 Mn in 2016, after touching US$ 52.6 Mn in 2015.
Treating post-partum haemorrhage conditions with oxytocin will have major market share followed by labor arrest and labor inductions. Owing to increase in prolonged labor and uterine atony conditions are expected to boost the labor arrest market over the forecast period.
Intravenous infusions/injections remained the largest segment by route of administration, accounting for over 62.9% revenue share of the market in 2016. Intramuscular injections will decline, owing to higher adoption of intravenous infusions/injections globally.
Hospitals will remain the prominent end-users of the global oxytocic pharmaceuticals, followed by maternity clinics. Increase in approaching hospitals for both normal and caesarean deliveries in developing countries and availability of oxytocin is expected to dominate the market over the forecast period.
Global Oxytocic Pharmaceuticals Market Revenues Reached US$ 157.6 Mn in Revenues in 2016, surge in hospital based deliveries played a crucial role in the expansion of the market: RRI Study
Increasing number of births, government insurance policies and two-child policy will continue to have a positive impact on oxytocic pharmaceuticals market in China. The demand for oxytocic pharmaceuticals in APEJC region is expected to grow due to high number of manufacturers and large population in this region.
Fresenius Kabi AG, Biofutura SpA, Baxter Healthcare Corporation, Pfizer Inc., Ferring B.V., Novartis AG and Teva Pharmaceutical Industries ltd are leading players in the global oxytocic pharmaceuticals market. Novartis and Pfizer are actively entering into agreements with other companies to expand their product reach into different geographies. Recently, Ferring B.V launched long acting and temperature stable oxytocin into Asian markets that is first of its kind in the oxytocic pharmaceuticals market.