Injectable Contraceptives Market is anticipated to grow at a CAGR of 7.1%, reaching a valuation of USD 6.9 billion by 2032

LOS ANGELES, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The Injectable Contraceptives Market is crucial for addressing the growing need for effective and convenient contraceptive methods

The Injectable Contraceptives Market is a significant segment of the healthcare sector, focusing on the development and distribution of contraceptive solutions administered through injections. This market is experiencing substantial growth due to the increasing awareness about family planning, the rising demand for long-lasting contraceptives, and the growing female empowerment movements globally. As the awareness about family planning increases and the focus on women’s reproductive health intensifies, the market for injectable contraceptives is set to expand. With continuous innovation, user-centric product development, and a focus on addressing the evolving needs of women globally, the future of the Injectable Contraceptives Market promises growth, evolution, and broader adoption across various demographics.

Injectable Contraceptives Market Highlights and Key Statistics:

• The Injectable Contraceptives Market globally was valued at USD 3.5 billion in 2022 and is forecasted to escalate to USD 6.9 billion by 2032, with a CAGR of 7.1% from 2023 to 2032.
• In 2022, North America dominated the Injectable Contraceptives Market, holding more than 52% of the market share.
• The market for Injectable Contraceptives in the Asia-Pacific region is anticipated to grow at a CAGR of approximately 7.5% from 2023 to 2032.
• Leading the market is the progesterone-only injectables segment, which constituted over 64% of the market share in 2022.

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Injectable Contraceptives Market Report Coverage:

Injectable Contraceptives Market Overview and Analysis:

The trajectory of the Injectable Contraceptives Market is promising, driven by the increasing preference for injectable contraceptives due to their efficacy and convenience. The market is also influenced by innovations in contraceptive formulations, focusing on enhanced safety, reduced side effects, and improved user experience. However, challenges such as cultural and social stigmas and lack of awareness can pose growth constraints.

Latest Injectable Contraceptives Market Trends and Innovations:

• Development of advanced injectable contraceptives with extended duration of action and improved safety profiles.
• Integration of user-friendly and discreet packaging to encourage usage among women.
• Continuous research on hormonal and non-hormonal injectable contraceptives to expand the product portfolio.
• Introduction of awareness and education programs to promote the benefits of family planning and contraception.
• Emphasis on accessibility and affordability of injectable contraceptives in low and middle-income countries.
  

Major Growth Drivers of the Injectable Contraceptives Market:

• The increasing awareness and acceptance of family planning and contraception methods globally.
• Growing female empowerment movements and the rising demand for female-controlled contraceptive methods.
• Technological advancements leading to the development of effective and safe injectable contraceptives.
• Rising investments in research and development activities in the field of reproductive health.
• The growing prevalence of sexually transmitted infections and the need for effective prevention methods.
  

Key Challenges Facing the Injectable Contraceptives Market:

• Cultural and social stigmas associated with the use of contraceptives in certain regions.
• Lack of awareness and access to contraceptive methods in underdeveloped regions.
• Ensuring the safety and efficacy of injectable contraceptives under varying health conditions.
• Meeting the diverse and evolving needs and preferences of women for contraceptive methods.
• Regulatory hurdles and compliance standards affecting product development and approval.
  

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Injectable Contraceptives Market Segmentation Insights:

As per Type

• Combined injectable contraceptives type
• Progesterone-only injectables type
  1. Depot medroxyprogesterone acetate type
  2. Norethisterone enanthate type

Based on the Age Group

• 25–34 year group
• 15–24 years group
• Above 44 years group
• 35–44 years group

As per Duration of Action

• Long-acting duration
• Short-acting duration

As per End-User

• Hospital uses
• Gynecology clinics uses
• Other uses
  

Regional Overview of the Injectable Contraceptives Market:

North America, with its high awareness levels and acceptance of contraceptive methods, leads the market. Europe, with its advanced healthcare infrastructure and government initiatives for family planning, also presents significant demand for injectable contraceptives. Asia-Pacific is expected to witness substantial growth due to the increasing awareness about family planning and improving healthcare access.

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List of Key Players in the Global Injectable Contraceptives Market:

Pfizer Inc., Bayer AG, Merck & Co., Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Novartis AG, Johnson & Johnson, MedPharm Ltd., Allergan plc, Reckitt Benckiser Group plc, Agile Therapeutics, Apothecus Pharmaceutical Corp, Church & Dwight Co., Inc., Afaxys, Inc. and Lupin Pharmaceuticals, Inc.

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