Industry interest in the neuropeptide hormone oxytocin has surged on the back of the profound role it has in human evolution. The peptide hormone is implicated in numerical physiological processes. The global oxytocin market is slated to record a CAGR of 8.4% over the projected period, 2020-2030. The market growth is majorly underpinned by growing prevalence of pregnancy problems amid women across numerous regions. Furthermore increasing focus on averting PPH incidences will be driving demand for oxytocin.
“Initiatives by government to promote children and women’s health are supporting global efforts to enhance maternity care all over healthcare settings, thus opening notable growth prospects for the market,” comments the FMI analyst.
The oxytocin market is extremely fragmented, due to the existence of several regional and international players who are engaged in several expansion strategies, incorporating licensing agreements, product launches, collaborations, acquisitions and partnerships. Leading market players operating in the global market include Pfizer Inc., Ferring B.V., Novartis AG, Hikma Pharmaceuticals PLC, Fresenius Kabi LLC, Teva Pharmaceuticals Ltd., Endo International Plc. (Par Sterile Products, LLC), Wockhardt Ltd., Mylan N.V., Yuhan Corporation and Sun Pharmaceutical Industries Ltd.
Initially, a blip was experienced by healthcare providers with regard to oxytocin treatment as the industry reoriented its priorities to care for COVID infected patients. However, governments have realized the importance of maternal care and are thus directing healthcare providers to equally accommodate their resources. Moreover, experts are also considering oxytocin as a treatment option for the coronavirus.