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Oxytocin Market Size
Oxytocin Market was valued at around USD 85.3 million in 2023 and is estimated to grow at 9.5% CAGR from 2024 to 2032. Oxytocin is a hormone and neurotransmitter produced in the hypothalamus and released by the posterior pituitary gland. It plays a crucial role in various physiological processes particularly in social bonding, childbirth, and lactation. Oxytocin is often referred to as the bonding hormone due to its involvement in social behaviors and emotional connections between individuals.
The increasing incidence of pregnancy complications serves as a substantial impetus for the growing demand of pregnancy medications. For instance, according to the data from World Health Organization (WHO), maternal mortality remained high, with approximately 287,000 women lost their lives during and after pregnancy in 2020. The vast majority, nearly 95%, of these tragic deaths occurred in countries classified as low and lower-middle income. Thus, this underscores the significant demand for oxytocin and related maternal healthcare products, highlighting the crucial role they play in addressing pregnancy complications and reducing maternal mortality rates.
Oxytocin Market Report Attributes
| Report Attribute |
Details |
| Base Year: | 2023 |
|---|
| Oxytocin Market Size in 2023: | USD 85.3 Million |
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| Forecast Period: | 2024 - 2032 |
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| Forecast Period 2024 - 2032 CAGR: | 9.5% |
|---|
| 2032 Value Projection: | USD 189.9 Million |
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| Historical Data for: | 2021 – 2023 |
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| No. of Pages: | 110 |
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| Tables, Charts & Figures: | 150 |
| Segments covered: | Indication, Distribution Channel, and Region |
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| Growth Drivers: | - Rising incidence of pregnancy complications
- Increase in childbirth rates
- Growing awareness of induced labor and breastfeeding
- Increasing research & development activities
|
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| Pitfalls & Challenges: | - Stringent regulatory requirements
- High cost of drug
|
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Furthermore, increase in childbirth rates, growing awareness of induced labor and breastfeeding, and increasing research & development activities are the contributing factors stimulating the growth of the market.
