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Oxytocic Pharmaceuticals Market Size to Grow at the Double Digit CAGR during 2016 - 2022
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Oxytocic drugs are used is various field of obstetrics such as induction of labor, treatment of labor arrest, contraction stress test, management of labor and for the treatment of uterine atony and postpartum hemorrhage. The drug is also used to abort the fetus in case of miscarriage. For the prevention of uterine atony, oxytocic drugs are given following C-section. Synthetic derivatives of oxytocin can induce antidiuretic activity owing to absence of vasopressin.
Increasing in the trend of delivery in hospitals over at home and number of caesarian procedures are the primary factor for the growth of oxytocic pharmaceuticals market.
Also, the various type of products offering by various companies related to oxytocic drug to capture the market share is creating a competition for oxytocic pharmaceuticals market. The side effects associated with the oxytocic drugs leading to excessive bleeding following vaginal delivery due to postpartum haemorrhage are the key factors restraining the growth of oxytocic pharmaceutical market.
Postpartum haemorrhage (PPH) is the key factor that led to maternal mortality which is a type of obstetric haemorrhage. According to WHO, there are 14 million cases related to PPH occur every year. PPH oxytocin injection is recommended for treatment of PPH.
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The recommended dose for oxytocic pharmaceuticals is 1-2mU/min. Various brands that are available in the market are Hipofisina, Evatocin, Litocin, Pitogin, Piton-S and Obcin Octocin. Also, various oxytocic pharmaceuticals are yet to receive FDA approvals such as Carbetocin, Misoprostol and Syntocinon.
Depending on geographic region, oxytocic pharmaceuticals market is segmented into seven key regions: North America, Latin America, Europe, Asia Pacific and Middle East & Africa. North America is expected to dominate the oxytocic pharmaceuticals market followed by Europe, Asia Pacific owing to increase in the caesarian procedures, involvement in R&D, government initiatives, great advancement in field of oxytocic functions, awareness regarding maternal care and developed healthcare infrastructure.
The developing nations in Asia Pacific, Middle East & Africa hold huge potential for growth in the oxytocic pharmaceuticals market due to prevalence of delivering child at home that reduces the execution of injections immediately after delivery, unavailability of oxytocic drugs and healthcare infrastructure facilities.
Key players of oxytocic pharmaceuticals market are App Pharmaceuticals LLC, Teva Parenteral Medicines Inc., Abbott laboratories, JHP Pharmaceuticals LLC and Novartis Pharmaceuticals Corporation.
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