The oxytocin market studied is anticipated to register a CAGR of nearly 5.4%, during the forecast period.
· 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.
· Rising disposable incomes, especially in developing countries, and increasing awareness regarding pregnancy care products among women, increase in literacy rate of women, and increase in well-developed distribution channels for oxytocin products are the major factors driving the growth of the oxytocin market.
However, stringent regulations and high cost of oxytocin drug are expected to be the key restraints for the growth of the pregnancy products market.
Key Market Trends
Antepartum Holds Significant Share in the Oxytocin Market
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 FDA-approved for strengthening uterine contractions with the aim of successful vaginal delivery of the fetus.
North America Dominates the Oxytocin Market
North American dominates the oxytocin products market, due to high awareness regarding pregnancy products and increasing expenditure on personal care products. However, Asia-Pacific is anticipated to grow tremendously during the forecast period, owing to factors, such as a rise in disposable incomes in developing economies, such as China and India, a rise in well-established distribution channels, and increasing awareness regarding oxytocin products through strong marketing activities by key players.
The oxytocin market is competitive and consists of a few major players. Companies, like Bimeda, GlaxoSmithKline PLC, Grindeks, JHP Pharmaceuticals, KAPL, Novartis AG, Pfizer Inc., and Shanghai Hefeng, hold the substantial share in the market.
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