Major healthcare providers continue to use progesterone therapy extensively. However, such preventative medication is expected to decline over concerns of side effects, opening avenues for new alternatives in preterm birth management.
The global preterm birth prevention and management market will expand with over 9% CAGR during the forecast period (2019 – 2029). According to a new study by Future Market Insights (FMI), the market for preterm birth prevention and management is largely influenced by increasing numbers of generic versions of blockbuster drugs in the global market, supported by favorable government policy.
“The demand from countries with high preterm birth rates, development of new drugs, and loss of exclusivity in hydroxyprogesterone are factors which are projected to offer new growth opportunities,” reveals the FMI report.
Key Research Findings
Progesterone therapy will remain a highly preferred medication option in the preterm birth prevention and management market through the forecast period.
Hospital pharmacies to witness healthy demand growth as a distribution channel for preterm birth prevention and management drugs.
Sales of hydroxyprogesterone are also gaining traction over alternatives such as labetalol and nifedipine, owing to higher efficacy.
North America and South Asia will remain major regional markets through the forecast period.
Key Growth Drivers
Rising focus on the improving standards of healthcare and the popularity of targeted therapies play a major role in the growth of market.
Strong rise in the demand for preterm birth prevention and management in developing economies contributes market expansion.
Regional and international research organizations are taking up initiatives towards advocacy and innovation of such treatments, contributing to market growth.
The high number of preterm babies across the global, and awareness programs run by bodies such as the WHO will drive adoption.
Key Impediment to Market Growth
Strict regulations associated with the development and approval of drugs for preterm birth treatments remains a key challenge to manufacturers.
Competition Structure Analysis – Preterm Birth Prevention and Management Market
The competition landscape of the preterm birth prevention and management market remains moderately fragmented. Key producers are also pushing for organic and inorganic strategies for business expansion, through collaborations, mergers, and acquisitions of local players in developing economies. Manufacturers are also seeking to leverage brand identity through product associated USPs.
Some of the key players in the preterm birth prevention and management market include, but are not limited to Ferring Pharmaceuticals, Teva Pharmaceutical Industries Ltd., AMAG Pharmaceuticals, Pfizer Inc., Saniofi SA., and Novartis AG.
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About the Report
This report offers global, regional, and national level analysis on the latest trends in the industry influencing the preterm birth prevention and management market. The study provides actionable insights on the basis of therapy type (progesterone therapy, corticosteroid therapy, tocolytics therapy, antihypertensive therapy, magnesium sulfate therapy, heparin prophylaxis therapy, los-dose aspirin therapy, and antibiotics therapy), route of administration (oral, parenteral, and vaginal), patient type (prior spontaneous PTB, preeclampsia, short cervix, chronic hypertension, insulin dependent, twins, antiphospholipid antibody syndrome, and others), distribution channel (hospital pharmacies, retail pharmacies, drug stores, and mail order pharmacies) across 30 countries spanning seven key regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and MEA).
Press-Release Source – https://www.accesswire.com/582076/Demand-for-Preterm-Birth-Prevention-and-Management-to-Grow-at-9-CAGR-Through-2029-Corticosteroids-and-Tocolytics-Sought-after-Therapies-FMI
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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