New York, United States , June 25, 2024 (GLOBE NEWSWIRE) -- The Global Contraceptive Drugs Market Size is to Grow from USD 18.53 Billion in 2023 to USD 40.08 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.02% during the projected period.
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Preventing unwanted pregnancies, controlling the birth rate, and lowering the risk of sexually transmitted diseases (STDs) are the main goals of contraception. Fertile women take these drugs after adolescence but before menopause, that is, between the ages of 15 and 44. Many end users use of birth control and family planning, as well as preventing STIs and pregnancy, with contraceptive medicines. One type of birth control that is used to avoid conception is a medicine called contraception. The increasing number of unwanted pregnancies, STDs, technical advancements in devices, and women's increasing awareness of sexual health are some of the variables that can account for this incremental rise rate. The market for contraceptives as a whole is growing because of the steadily rising prevalence of these devices. There's been a rise in the number of people searching for safe, reversible contraception as women's agency and awareness of sexual health issues grow. Improving women's sexual and reproductive wellness is becoming more and more important, according to non-profit organizations and local, state, and federal healthcare institutions through a variety of campaigns and public awareness initiatives. Furthermore, two synthetic hormones discovered in contraceptive pills, progesterone, and estrogen, are known to have several adverse effects on women.
Browse key industry insights spread across 207 pages with 110 Market data tables and figures & charts from the report on the "Global Contraceptive Drugs Market Size, Share, and COVID-19 Impact Analysis, By Product (Oral (Combined Contraceptives and Progestin-only Pills), Injectable, and Patches), By Distribution channels (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channel, Public Channel and NGOs, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033."
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The oral segment dominates the market with the highest market share of the contraceptive drugs market during the projected timeframe.
Based on the product, the contraceptive drugs market is divided into oral (combined contraceptives and progestin-only pills), injectable, patches, and others. Among these, the oral (combined contraceptives and progestin-only pills) segment dominates the market with the highest market share of the contraceptive drugs market during the projected timeframe. Oral contraceptives are becoming more and more popular, particularly in underdeveloped countries. This is because oral contraceptive pills are more affordable and offer therapeutic benefits over other traditional forms of contraception.
The retail pharmacy segment accounted for the largest revenue share of the contraceptive drugs market during the projected timeframe.
Based on the end user, the contraceptive drugs market is divided into hospital pharmacy, retail pharmacy, clinics, online channel, public channel and NGOs, and others. Among these, the retail pharmacy segment accounted for the largest revenue share of the contraceptive drugs market during the projected timeframe. It is following the public's increasing need for tablets that provide contraception as well as their increasing awareness of the variety of contraceptive drug alternatives available. Birth control pills can be purchased over the counter in numerous countries.
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North America is expected to hold the largest share of the contraceptive drugs market over the forecast period.
North America is expected to hold the largest share of the contraceptive drugs market over the forecast period. Propelled by factors such as cutting-edge healthcare infrastructure, encouraging policies from the government, and elevated consciousness levels. In countries like the United States and Canada, where a range of alternatives are sold over the counter or through medical experts, contraceptives are widely available. Comprehensive programs for sexual education in public and school contexts also increase people's knowledge of and adherence to contraceptives. North America is home to several of the top pharmaceutical companies, which promotes market growth because they are always coming out with new and inventive contraceptive products that match shifting customer requirements and preferences.
Asia Pacific is predicted to grow at the fastest pace in the contraceptive drugs market during the projected timeframe. The public's growing awareness of pills and the government's intensified efforts to provide access to these treatments are driving up demand for contraceptive pills. Furthermore, a growing focus on family planning as a result of the growth in unintended pregnancies is affecting the market for birth control tablets and other kinds of contraception.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the contraceptive drugs market include Allergan, Bayer AG, Pfizer Inc., Piramal Enterprises Ltd., Johnson and Johnson Private Limited, Mylan N.V., Teva Pharmaceutical Industries Ltd., Merck and Co., Inc., Lupin Limited, Cipla Ltd., Famy Care Ltd., Mithra Pharmaceuticals, Abbvie, Janssen Pharmaceuticals, Inc., and Others.
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Recent Developments
- In July 2023, The FDA authorized Perrigo's Opill, the first over-the-counter birth control pill in the US, increasing its effectiveness over other over-the-counter methods and possibly increasing access to contraception.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the contraceptive drugs market based on the below-mentioned segments:
Global Contraceptive Drugs Market, By Product
- Oral
- Combined Contraceptives
- Progestin-only Pills
- Injectable
- Patches
Global Contraceptive Drugs Market, By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Clinics
- Online Channels
- Public Channels & NGOs
- Others
Global Contraceptive Drugs Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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