The oxytocin market is evaluated at US$25.242 million for the year 2019 growing at a CAGR of 5.46% reaching the market size of US$36.628 million by the year 2026.
Oxytocin is a hormone that is given to women during pregnancy generally when there are childbirth complications in order to induce labor or support and make the uterine contractions strong. The prevalence of childbirth complications has been increasing over the years and is expected to propel the growth of the oxytocin market during the forecast period. Furthermore, the increasing access to hospitals and medical facilities is leading to a higher number of women giving birth in the hospitals now, which is further expected to boost the market growth of oxytocin during the assessment period. However, the partial ban of oxytocin by various countries is projected to hamper the market growth in the coming years.
The recent outbreak of the novel coronavirus disease had a positive impact on the oxytocin market. COVID-19 increases the risk of childbirth complications in mothers who were infected with COVID-19 during pregnancy. This led to an increased need for oxytocin for mothers infected with COVID-19 and led to a surge in the market growth for oxytocin during the pandemic.
Growing cases of childbirth complications
The cases of childbirth complications have been increasing over the years and are projected to continue growing in the coming years as well, which is anticipated to bolster the growth of the oxytocin market during the forecast period, as the medicine is widely used in childbirth complications. The Blue Cross Blue Shield Association states that women with pregnancy complications have twice of chances of having childbirth complications as well. As per the report titled "Trends in Pregnancy and Childbirth Complications in the U.S." published in June 2020, the pregnancy complications have increased by 16.4% and the childbirth complications have increased from 14.2% during the period from 2014 to 2018. The childbirth complication with the highest growth from 2014 and 2018 was eclampsia, as per the Blue Cross Blue Shield Association. The prevalence rate of eclampsia in the United States has increased from 1.1 per 1,000 cases to 1.7 per 1,000 cases, witnessing a growth of 57.9% between 2014 and 2018. Other complications such as cardiomyopathy, embolism, sepsis, and respiratory distress have also been witnessing growth in their prevalence. The growing cases of childbirth complications are leading to an increased need for oxytocin to induce labor or strengthen uterine contractions, or control bleeding after childbirth. The growing trend of childbirth defects is expected to continue supplementing the market growth of oxytocin during the forecast period.
North America to hold a significant market share
Geographically, the North American region is anticipated to hold a significant market share owing to the presence of an advanced healthcare system and high awareness in the region regarding pregnancy and childbirth complications. The Asia Pacific region is anticipated to witness substantial growth due to increasing access to medical facilities for pregnant women.
|The market size value in 2019||US$25.242 million|
|The market size value in 2026||US$36.628 million|
|Growth Rate||CAGR of 5.46% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Indication, Distribution Channel, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Viatris Inc., Pfizer Inc., Taj Pharmaceuticals Ltd., KAPL, Bimeda, Grindeks, Merck, GlaxoSmithKline plc, JHP Pharmaceuticals, Novartis AG|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the oxytocin market size by 2026?
A1. The oxytocin market is expected to reach a market size of US$36.628 million by 2026.
Q2. What is the size of global oxytocin market?
A2. Oxytocin Market was valued at US$25.242 million in 2019.
Q3. What are the growth prospects for oxytocin market?
A3. The global oxytocin market is expected to grow at a CAGR of 5.46% during the forecast period.
Q4. What factors are anticipated to drive the oxytocin market growth?
A4. Certain factors that are driving the oxytocin market growth include the increasing prevalence of pregnancy complications, the rising number of births globally, and growing awareness of induced labor and breastfeeding.
Q5. Who are the major players in the oxytocin market?
A5. Prominent/major key market players in the oxytocin market include Bimeda, Pfizer Inc, Taj Pharmaceuticals Ltd., and KAPL among others.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Oxytocin Market Analysis, by Indication
6. Oxytocin Market Analysis, by Distribution Channel
7. Oxytocin Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.3. South Africa
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Viatris Inc.
9.2. Pfizer Inc.
9.3. Taj Pharmaceuticals Ltd.
9.8. GlaxoSmithKline plc
9.9. JHP Pharmaceuticals
9.10. Novartis AG
Taj Pharmaceuticals Ltd.
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