Global Oxytocic Pharmaceuticals Market: Snapshot
Available under the brand name of Pitocin, the drug oxytocin, which is derived from the peptide of the same name, is commonly used on women during childbirth in order to induce contractions. This can not only increase labor speeds and reduce the time taken for childbirth, but can also cease bleeding after delivery. It is almost always administered to a patient by injecting it into their vein or muscle.
The drug, however, does not come without side effects, the more serious among which is the excessive contraction of the uterus after overconsumption, which could put the baby’s health at risk. Other side effects include a reduced heart rate and nausea. Oxytocin is also known to cause allergic reactions, including anaphylaxis. The drug is still considered highly safe for use and is also a part of WHO’s List of Essential Medicines.
Oxytocin may also be used as a medication for stimulating the mother for breastfeeding. The drug can stimulate the production of breast milk and can therefore be essential for mother who may not be able to do so naturally.
Global Oxytocic Pharmaceuticals Market: Overview
Dubbed the “love hormone,” oxytocin is a female reproductive hormone, produced in the hypothalamus and released into bloodstream during childbirth. This hormone induces labor and milk production in a lactating mother. Oxytocic drugs can be used as uterotonic for induced labor and to reduce the chances of hemorrhage post C-section. Besides this, oxytocic drugs are also administered in conditions such as post-mature birth; uterine atony; pre-eclampsia, which means hypertension during pregnancy; stillbirth; postpartum hemorrhage; and as an adjunct therapy for treatment of autism and in cases of incomplete abortion.
Apart from being administered to humans, oxytocic drugs are also used as veterinary medications. Oxytocin demonstrates its effect after delivery, during childbirth, and toward the end stage of pregnancy.
According to the World Health Organization, every year more than 15 million babies are born prematurely, and this number of preterm births is expected to increase in the coming years. As per the findings of the National Center for Health Statistics, the U.S. alone exhibited a 23.3% labor induction rate in 2012. Considering these statistics, the demand for oxytocic drugs is expected increase significantly in the near future.
The report provides a comprehensive overview of the global oxytocic pharmaceuticals market. It presents insights into the factors influencing the market’s trajectory. The impact of the prevailing demand and supply trends on the market operations is also examined in the report in detail.
Global Oxytocic Pharmaceuticals Market: Key Opportunities and Threats
The increasing incidence of preterm births and the rising rates of labor induction are the primary factors fuelling demand from the global oxytocic pharmaceuticals market. The rising cases of pregnancy-related complications emerging in developing nations also translate into the increased use of oxytocic drugs. Additionally, the market is also expected to gain from the expansion of the health care and pharmaceutical industries in developing countries. However, awareness regarding the side effects related to oxytocic drugs can hamper their use to an extent, thereby restraining the global oxytocic pharmaceuticals market.
Leading brands offer numerous oxytocic products. Pitocin, Octocin, Evatocin, Syntocinon, Pitogin, Duratocin, Cytotec, and Tiacinon are the most popular brands competing for a larger share of the global oxytocic market. However, the synthetic oxytocin derivatives segment is poised to hold the largest share in the market owing to its easy availability. Likewise, hospitals are expected to emerge as the major end-use sector in the market.
Global Oxytocic Pharmaceuticals Market: Region-wise Outlook
Regionally, North America has been exhibiting the highest demand for oxytocic pharmaceuticals due to the high prevalence of induced labor in the region. Europe is expected to emerge as the second-largest market for oxytocic pharmaceuticals due to the rise in oxytocin administration in response to the increasing number of elective caesareans. The market is also anticipated to gain from the increasing case of C-sections in countries in Asia Pacific, such as India and China.
Global Oxytocic Pharmaceuticals Market: Vendor Landscape
To study the prevailing competitive landscape of the market, the report profiles companies such as APP Pharmaceuticals, LLC, LBS Labs, Baxter Healthcare Corporation, JHP Pharmaceuticals, LLC, and Pfizer Inc. The report studies these companies based on their business strategies, financial overview, and product portfolio. The strengths and weaknesses of these enterprises are analyzed. The report also presents in-depth overview of the threats and opportunities that these companies are expected to face during the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.