What is the size of the contraceptive market?
According to the report published by Allied Market Research, 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.
- Market Size By 2031 USD 26.9 Billion
- Growth Rate CAGR of 6.9%
- Forecast period 2020 – 2027
- Report Pages 270
Contraceptive drugs, also known as birth control pills or simply “the pill,” are medications taken to prevent pregnancy. They work by stopping ovulation (the release of an egg from the ovary) and by thickening the mucus in the cervix, which makes it difficult for sperm to reach and fertilize an egg. Most contraceptive pills are taken orally and come in packs containing 21 or 28 pills. Some types contain only one hormone (progestin), while others contain a combination of estrogen and progestin. It is important to use the pill consistently and correctly in order to maximize its effectiveness. However, it is important to note that contraceptive pills do not protect against sexually transmitted infections (STIs).
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.
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Which segment use in Contraceptive Drugs?
Contraceptive drugs are used by people of reproductive age, including women who are sexually active and want to prevent pregnancy. This includes individuals in a variety of relationships, including single people, married couples, and those in non-monogamous relationships. The use of contraceptive drugs can also be recommended to women who are having irregular menstrual cycles or for medical reasons such as endometriosis, polycystic ovary syndrome (PCOS), or for women who have a history of repeated miscarriages. The decision to use contraceptive drugs should be made in consultation with a healthcare provider, who can help determine the best method based on an individual’s specific health and lifestyle needs.
- 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.
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What are the two most commonly used contraceptives?
The two most commonly used contraceptives are the birth control pill and condoms. The birth control pill is a hormonal method of contraception that is taken orally. It works by stopping ovulation and thickening cervical mucus to prevent pregnancy. Condoms, on the other hand, are a barrier method of contraception that physically block sperm from reaching an egg. They also provide protection against sexually transmitted infections (STIs). Both methods have their own advantages and disadvantages, and the choice of contraception should be made in consultation with a healthcare provider based on an individual’s specific health and lifestyle needs.
North America held the major share in 2019, garnering around one-third of the global contraceptive drugs market, owing to rise in awareness regarding contraceptive pills, surge in adoption of modern contraceptive drugs, and alarming rise in prevalence of sexually transmitted diseases such as HIV/AIDS in the province. Simultaneously, the market across Asia-Pacific would showcase the fastest CAGR of 8.4% from 2020 to 2027, due to presence of large population base and proactive initiatives of governmental organizations for birth control and awareness in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, UK, Rest of Europe)
- Asia-Pacific (Japan, China, Australia, India, Rest of Asia-Pacific)
- LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
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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
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