Oxytocic Pharmaceuticals Market: By Type (Intramuscular Injection, Intravenous Injection), By Source (Natural Oxytocin (Animal Pituitary Extracts), Synthetic Oxytocin), By End-User (Maternity Clinics, Hospitals) and Geography     

Oxytocic Pharmaceuticals Market size was estimated at USD 196.6 million in 2022 and is poised to grow at a significant CAGR of 7.2% from 2023-2029. Oxytocic Pharmaceutical is a type of medicine that aids in inducing labor pain. It can also be utilized to cure postpartum hemorrhage devices. Oxytocin is the natural hormone on which oxytocic drugs are based. Synthetic oxytocin byproducts are artificial medications. These medications help to progress uterine contractions and can be utilized to cure other situations like obesity and diabetes. The global market provides a detailed overview of the Oxytocic Pharmaceuticals market, and that can be segmented by type, by source, and by the End user. By type, the Oxytocic Pharmaceuticals market has been segmented into Intramuscular Injection and Intravenous Injection. The Intramuscular Injection segment is likely to grow significantly in terms of type. Based on Source, the Oxytocic Pharmaceuticals market is segmented into Natural Oxytocin and Synthetic Oxytocin. Natural oxytocin includes animal pituitary extracts. Among these, the Synthetic Oxytocin segment is expected to have the fastest-growing market during the forecast period 2022-2028. Synthetic oxytocin by-products are artificial forms of the oxytocin hormone. They are made by changing the chemical assembly of natural oxytocin. This modifies the way the hormone functions in the body. Some synthetic oxytocin is utilized to assist pregnant women during childbirth, while others are utilized to cure conditions such as schizophrenia and autism. Based on the End user, the Oxytocic Pharmaceuticals market is segmented into Maternity Clinics and Hospitals. The Hospitals segment is expected to have a significant share in 2021. The use of oxytocin medicinal drugs is not only restricted to hospitals but also to maternity clinics. The drug aids in the easy and smooth delivery of a baby and also supports the initial stages of breastfeeding. It is also utilized to stop bleeding after childbirth. Oxytocin can be given through numerous means, for instance, injections, nasal sprays, and IV drips.

Oxytocic Pharmaceuticals Market Key Developments:

• In December 2020, Iconovo announced its new parthnership with Monash University for the manufacture of inhaled oxytocin ICOone
• In August 2022, Tonix Pharmaceuticals announced the Issuance of a U.S. Patent Covering Potentiated Intranasal Oxytocin (TNX-1900) for the pain managemnet