Contraceptive Drugs Market Size

PORTLAND, OREGON, UNITED STATES, February 13, 2024 /EINPresswire.com/ -- Surge in need for preventing unwanted pregnancy, rise in awareness for contraceptives across the world, increase in usage of oral contraceptives as a preferred method to avoid unplanned pregnancy, upsurge in government and NGO initiatives promoting contraceptives, and mounting awareness about STDs drive the growth of the global contraceptive drugs market. On the other hand, health risks associated with the use of contraceptive methods impede the growth to some extent. However, rise in disposable income, demand for healthy life in emerging economies, and presence of large unmet contraceptive needs in emerging Asian and African economies are expected to create lucrative opportunities for the key players in the industry.

Contraceptive Drugs Market by Product (Oral Contraceptive Pills, Injectable Contraceptives, and Topical Contraceptives), Age Group (15–24 Years, 25–34 Years, 35–44 Years, and Above 44 Years), and End User (Homecare, Hospitals, and Clinics): Global Opportunity Analysis and Industry Forecast, 2020–2027. The global Contraceptive Drugs Market was pegged at $14.32 billion in 2019, and is anticipated to garner $24.42 billion by 2027, manifesting a CAGR of 6.9% from 2020 to 2027. The report provides detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, competitive scenario, and regional landscape.

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Covid-19 scenario-

During the outbreak of the pandemic the contraceptive drug manufacturers have been through several challenges with unpredictable and distorted supply chain activities and lack of skillful human resources. Also, declined number of hospital visits by women to receive injectable further affected the market.

However, as the restrictions are getting eased off, the global market for contraceptive drugs is expected to recoup soon.

The growth of the global contraceptive drugs market is driven by alarming increase in the incidence of STDs, rise in unintended pregnancy rate, and need for family planning across the world, owing to rapidly growing population and socioeconomic burden related to teenage pregnancy. The impact of the drivers is expected to surpass that of the restraints.

The 15-24 years segment to dominate during the forecast period-

Based on age group, the 15-24 years segment accounted for more than half of the global contraceptive drugs market revenue in 2019, and is expected to lead the trail by 2027, owing to augmented use of contraceptives among teenagers, early maturity among teenage girls, and increase in demand for contraceptives. At the same time, the above 44 years segment would exhibit the fastest CAGR of 9.0% during the forecast period. Women in the age group above 44 years are anticipated to consume oral pills, especially those who still believe they can deliver a child at this age. This factor propels the segment growth.

The oral contraceptive pills segment to maintain the lion's share by 2027-

Based on product, the oral contraceptive pills segment contributed to more than four-fifths of the global contraceptive drugs market share in 2019, and is anticipated to rule the roost by the end of 2027. Oral pills are the most common type of reversible contraception used worldwide due to its higher effectiveness and better convenience than its other counterparts. This factor propels the segment growth. The injectable contraceptives segment, on the other hand, would register the fastest CAGR of 8.0% throughout the forecast period. This is attributed to rise in awareness of injectable available in the market.

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Frontrunners in the industry:

Allergan Plc
Bayer AG
Teva Pharmaceutical Industries Ltd.
GlaxoSmithKline Plc
Piramal Healthcare
Mylan N.V.
Pfizer Inc.
Johnson & Johnson
Agile Therapeutics
Novartis AG

The global contraceptive drugs market has been examined based on four regions, North America, Europe, Asia-Pacific, and LAMEA. North America accounted for majority of the share in the global contraceptive drugs market in 2019. This region is projected to uphold its lead throughout the analysis period, owing to rise in awareness regarding contraceptive pills, surge in adoption of modern contraceptive drugs, and increase in prevalence of STDs such as HIV/AIDS. U.S. accounts for the significant share in the overall North American contraceptive drugs market. 

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