The global contraceptive drugs market size was valued at USD 16.59 billion in 2021. The market is expected to grow from USD 17.50 billion in 2022 to USD 28.81 billion by 2029, exhibiting a CAGR of 7.4% during 2022-2029. Rising concerns regarding overpopulation and increasing demand for modern contraceptives are expected to fuel market progress. Fortune Business Insights™ provides this information in its report titled “Contraceptive Drugs Market, 2022-2029.
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Key Industry Development
- December 2020 – The Pharma Solution Business of Piramal Enterprises Ltd. declared its plans for the expansion of its Michigan facility to elevate its capabilities and capacities for the manufacturing and development of active pharmaceutical ingredients.
- Forecast Period: 2022 to 2029
- Forecast Period 2022 to 2029 CAGR: 7.4%
- 2029 Value Projection: USD 28.81 Billion
Drivers and Restraints
Availability of Reimbursement Policies to Fuel Market Growth
Contraceptive drugs are pills designed to prevent pregnancies. The rising awareness regarding the improvement of women’s sexual and health wellness is expected to surge the demand for contraceptives. Furthermore, rising promotion activities from non-profit and profit organizations are expected to fuel the adoption of contraceptives. Moreover, the rising awareness regarding the advantages of contraceptives is likely to support market progress. Also, supportive government initiatives for the adoption of contraceptives are likely to foster the industry’s progress. For example, as per the NHS U.K., the women population in the U.K. have access to contraceptive injections from GP surgeries, contraceptive clinics, and others. These factors may drive the contraceptive drugs market growth.
However, rising concerns regarding the side effects of the drug are expected to hamper the industry’s growth.
Supply Chain Disruptions and Declining Revenues Impacted Market Progress
This market was negatively affected during the COVID-19 pandemic due to disruptions in the supply chain and declining revenues. The rapid spike in COVID-19 infections led to the adoption of stringent lockdown restrictions. Furthermore, the halt on manufacturing resulted in lack of sales. However, rising government initiatives regarding family planning and population control fostered the adoption of contraceptives in the post pandemic period. Furthermore, the post-COVID-19 phase empowered manufacturers to enhance their production activities and elevate their market position.
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Oral Segment to Dominate Owing to Strong Demand for Consumable Drugs
By product, the market is segmented into oral, injectable, and patches. The oral segment is expected to be the leading segment due to the rising demand for consumable drugs over other contraceptives.
Retail Pharmacy Segment to Dominate Owing to Rising Consumer Preferences for Over-the-Counter Drugs
Based on distributional channel, the market is classified into hospital pharmacy, retail pharmacy, clinics, online channels, public channels & NGOs, and others. Rising consumer preferences for over-the-counter drugs are expected to boost the retail pharmacy segment’s progress.
Regionally, the market is grouped into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
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Rising Awareness Regarding Contraceptive Drugs in North America to Foster Market Progress
North America is expected to dominate the contraceptive drugs market share due to the rising awareness regarding the drugs’ adoption. The market in North America stood at USD 6.58 billion in 2021 and is expected to gain a huge portion of the global market share in the coming years. Furthermore, the rising pregnant women population and increasing fertility rates are likely to boost industry growth in the region.
In Europe, several well-established healthcare infrastructure projects and the rising women population opting for modern contraceptive methods are expected to foster the adoption of contraceptives.
In Asia Pacific, rising government initiatives for easy reach of contraceptive drugs are expected to foster the industry’s growth. Furthermore, the rising demand for the product from the patient population is expected to foster the industry growth.
Major Players Deploy Acquisition Strategies to Expand their Market Reach
Prominent companies operating in the market deploy acquisition strategies to expand their market reach. For example, Bayer AG devised the acquisition of KaNDy Therapeutics Ltd. in September 2020. This strategy may allow Bayer AG to improve its drug development process for women and elevate its brand image. Furthermore, companies deploy mergers, novel product launches, research and development, and innovations to boost their market position.
List of Key Players Profiled in the Report
- Piramal Enterprises Ltd. (India)
- Agile Therapeutics (U.S.)
- Johnson & Johnson Services, Inc. (U.S.)
- AbbVie Inc. (U.S.)
- Pfizer Inc. (U.S.)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Viatris Inc. (U.S.)
- Amneal Pharmaceuticals, Inc. (U.S.)
- Bayer AG (Germany)
Table of Content
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Total Fertility Rate, By Key Countries, 2021
- Penetration of Oral Contraceptive Pills
- Penetration of Injectable Contraceptives
- Pipeline Analysis
- New Product Launches
- Regulatory Scenario – Contraceptive Drugs Market
- Key Industry Developments- Mergers, Partnerships & Acquisitions
- Impact of COVID-19 on the Market
- Global Contraceptive Drugs Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Product
- Combined Contraceptives
- Progestin-only Pills
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Channel
- Public Channel & NGOs
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Product
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