|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The oxytocin market is expected to record a CAGR of 5.4% over the forecast period.
COVID-19 had a significant impact on the oxytocin market and the overall healthcare industry. For instance, as per the article published in May 2022 under the title “Oxytocin, the Panacea for Long-COVID? A Review”, in the study researchers evaluated the underlying mechanisms for long-COVID and how the oxytocinergic neurons are likely to be affected by SARS-CoV-2 leading to a reduction in plasma oxytocin (OXT). The study also identified a potential mechanism for long-COVID that involves OXT dysfunction. Furthermore, the article published in August 2021 under the title “Covid and Oxytocin: Looking for Microbial Symbiosis” stated that the oxytocin hormone has anti-inflammatory and antioxidant protective effects and has received particular attention due to the pandemic of COVID-19. Hence as per the factors mentioned above, COVID-19 had a significant impact on the oxytocin market.
Certain factors that are driving the market growth include an increasing prevalence of pregnancy complications, a rising number of births globally, and growing awareness of induced labor and breastfeeding. For instance, as per the December 2021 update from United Nations International Children's Emergency Fund (UNICEF), in total, 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 levels of birth rate and population, there is a high chance for growth of the oxytocin market since the usage of oxytocin is advised for antepartum and post-partum pregnancy.
Moreover, the presence of competitors, new developments associated with oxytocin, and collaborations boost the market growth. For instance, as per the January 2021 update, Tonix Pharmaceuticals entered a licensing agreement with Katana Pharmaceuticals for its intranasal potentiated oxytocin to expand its use in metabolic disorders, especially insulin resistance, diabetes, and obesity. The licensing deal is an addition to the company’s original purchase of oxytocin-potentiated therapy from Trigemina in June 2020, with preclinical data demonstrating the efficacy of the intranasal oxytocin product TNX-1900 in disorders of the central nervous system, with migraine chosen as the lead indication by Tonix. These oxytocin-related collaborative ventures and partnerships open the way for a variety of indications, supporting the market's growth over the forecast period.
Furthermore, the application of oxytocin in the field of pregnancy boosts market growth. For instance, as per the article published in July 2020 under the title “Role of Oxytocin in Prevention of Postpartum Hemorrhage in Unplanned Out-of-Hospital Deliveries Treated By Emergency Medical Services”, in Finland, postpartum hemorrhage following unplanned out-of-hospital deliveries was prevented by intramuscular or intravenous oxytocin administration. Rising disposable incomes, especially in developing countries, and increasing awareness regarding pregnancy care products among women, an increase in the literacy rate of women, and an increase in well-developed distribution channels for oxytocin products are the major factors driving the growth of the oxytocin market.
As per the aforementioned factors, the oxytocin market is likely to grow over the forecast period. However, stringent regulation and high costs associated with the drug restrain the market growth.
Scope of the Report
As per the scope of the report, Oxytocin is a hormone made in the brain that plays a role in childbirth and lactation by causing muscles to contract in the uterus (womb) and the mammary glands in the breast. The Oxytocin Market is segmented by Indication (Antepartum, Postpartum), Distribution Channel (Hospital Pharmacies, Drug Stores, Online Pharmacies) Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
|By Distribution Channel|
Key Market Trends
Antepartum Segment is Anticipated to Hold Significant Share in the Oxytocin Market Over the Forecast Period
Antepartum oxytocin injection (synthetic) is indicated for the initiation or improvement of uterine contractions, where it is desirable and considered suitable to achieve early vaginal delivery for fetal or maternal reasons. In the antepartum period, exogenous oxytocin is the United States Food and Drug Administration (FDA) approved for strengthening uterine contractions with the aim of successful vaginal delivery of the fetus.
Research and development, product launches, mergers, and acquisitions in the studied segment boost the market growth. For instance, as per the article published in May 2020 under the title “Augmentation of Labor With Oxytocin and its Association With Delivery Outcomes: A Large-Scale Cohort Study in 12 Public Hospitals in Nepal”, the augmentation of labor with oxytocin was associated with beneficial effects, such as improved monitoring and a decreased risk of cesarean section. Proper use of oxytocin was needed to augment labor in low-resource contexts and call for evidence-based guidelines on the augmentation of labor in low-resource settings. Moreover, the article titled “The Role of Oxytocin and the Effect of Stress During Childbirth: Neurobiological Basics and Implications for Mother and Child” published in October 2021 stated that, during pregnancy, childbirth, and beyond, the neuropeptide oxytocin is essential for maintaining the health and safety of mother and child. It functions as a neuromodulator in the central nervous system and the periphery through endocrine and paracrine pathways.
Hence as per the aforementioned factors, the Antepartum segment is likely to face growth over the forecast period.
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North America Dominates the Market and is Expected to Grow Over the Forecast Period
North America dominates the oxytocin products market, due to the increasing number of preterm births, fertility rates, and increasing healthcare expenditure. For instance, according to the Centers for Disease Control and Prevention (CDC), “Births: Provisional Data for 2021” report, the number of births in the United States and the general fertility rate increased for the first time in seven years in 2021. The report shows a 1% increase in births from 2020, with 3,659,289 births recorded in 2021. As per the same source, the preterm birth rate rose 4% in 2021 to 10.48%, from 10.09% in 2020. During antepartum oxytocin helps in strengthening uterine contractions with the aim of successful vaginal delivery of the fetus. Since oxytocin is indicated and approved in both the antepartum and postpartum period the market is likely to grow due to the increase in the number of births in the studied region.
Moreover, the number of live births and pregnancy complications in Mexico and Canada regions are also fuelling factors for the market growth. For instance, as per the “National Vital Statistics Reports” published in February 2022, the percentages of unmarried births ranged from about one in five births in Utah (19.3%) to more than one in two births in Louisiana (54.5%), Mississippi (55.8%), and New Mexico (53.2%) in 2020. Hence varied birth populations in the different regions of North America are anticipated to boost the market growth over the forecast period.
Furthermore, the government initiative to provide more information and awareness to people regarding the use of Oxytocin fuels the market growth. For instance, the 2021 report from SafeMedicationUse.ca with the support of Health Canada released a handout titled “Oxytocin to Start or Advance Labour: 5 Questions to Ask”, which describes the benefits and risks of oxytocin and was able to help pregnant individuals and their support person have conversations with their health care team. Hence people are likely to get familiar with the usage of Oxytocin and thus boosting the market growth.
As per the factors mentioned above, North America is expected to witness growth over the forecast period.
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The oxytocin market is competitive and consists of a few major players. The competitive landscape includes an analysis of a few international as well as local companies. Many of these companies are undertaking various strategies to maintain their market shares such as mergers acquisitions collaborations and product launches etc. Companies, like Bimeda, GlaxoSmithKline PLC, Grindeks, JHP Pharmaceuticals, KAPL, Novartis AG, Pfizer Inc., and Shanghai Hefeng, hold a substantial share in the market.
- In August 2022, Tonix Pharmaceuticals received the United States patent for intranasal Oxytocin (TNX-1900) for the treatment of pain. The patent, titled "Magnesium-Containing Oxytocin Formulations and Methods of Use" claimed 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 U.S. market exclusivity until January 2036.
- In May 2022, the Central government of India allowed the import of oxytocin reference standards for testing and analysis after the submission of a test license issued by the Drugs Controller General of India (DCGI).
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Pregnancy Complications
4.2.2 Rising Number of Births Globally
4.2.3 Growing Awareness of Induced Labor and Breastfeeding
4.3 Market Restraints
4.3.1 Stringent Regulations
4.3.2 High Cost of Oxytocin Drug
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Indication
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Drug Stores
5.2.3 Online Pharmacies
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 AdvaCare Pharma
6.1.2 Fresenius Kabi AG
6.1.3 Wockhardt Ltd
6.1.4 JHP Pharmaceuticals
6.1.5 Karnataka Antibiotics and Pharmaceuticals Limited (KAPL)
6.1.6 Weefsel Pharma
6.1.7 Pfizer Inc.
6.1.8 EVER Pharma
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Oxytocin Market market is studied from 2019 - 2027.
What is the growth rate of Global Oxytocin Market?
The Global Oxytocin Market is growing at a CAGR of 5.4% over the next 5 years.
Which region has highest growth rate in Global Oxytocin Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Oxytocin Market?
North America holds highest share in 2021.
Who are the key players in Global Oxytocin Market?
Pfizer Inc. , Weefsel Pharma, EVER Pharma, AdvaCare Pharma, Fresenius Kabi AG are the major companies operating in Global Oxytocin Market.