The new report by Expert Market Research titled, ‘Global Contraceptive Drugs Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the Global Contraceptive Drugs market share, assessing the market based on its segments like application, end user, and major regions like North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 16.37 billion
• Forecast CAGR (2023-2028): 6.96 %
• Forecast Market Size (2027): USD 24.50 billion
As governments strive to improve the quality of life of their residents, they are increasingly giving free or heavily subsidised contraceptive medications, driving the market’s expansion. Furthermore, governments of low- and middle-income countries are adopting a variety of beneficial measures, such as public service announcements to promote contraceptive medications among their citizens. The introduction of various family planning programmes and media efforts aimed at raising knowledge about the importance and benefits of contraceptive medications is boosting the market growth.
The dispersion of contraceptive services among health providers and pharmacy staff, among others, is making injectables and oral contractions more accessible to the underprivileged community. As a result, the growing availability of a variety of contraceptive medications in developing nations is assisting market expansion. The development of novel contraceptive technologies to improve the functionality and efficiency of contraceptive medications are driving the market’s expansion.
Market Segmentation
Contraceptive drugs, also known as birth control pills, work by releasing hormones like oestrogen and progesterone to prevent unwanted pregnancies. To prevent ovulation, they thicken the mucus around the cervix. Contraceptive medicines are easy to use and reduce the risk of a variety of health problems, including breast cancer and polycystic ovary syndrome (PCOS).
Based on the major products of a contraceptive drug, the market is divided into:
• Topical Contraceptive
• Oral Contraceptive Pills
• Injectable Contraceptives
Based on the age-group, the market is divided into:
• 15-24 years
• 25-34 years
• 35-44 years
• Above 44 years
Based on end-users, the market is divided into
• Homecare
• Hospitals
• Clinics
The regional markets for contraceptive drugs include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The market is growing due to the development of novel contraceptive medications that reduce side effects such as nausea and vomiting. As more attempts are made to improve the benefits of contraceptive medications, novel modes for their administration to improve the patient experience are emerging, supporting market expansion. Furthermore, the market is likely to grow as research activities to develop advanced contraceptive medications improve.
The increasing acceptability of novel contraceptive medications such as once-a-month pills to inhibit ovulation or implantation is driving the market forward. Because traditional contraceptive medications have side effects such as nausea, vomiting, and mood swings, long-acting reversible contraceptives are being developed. The market is expected to grow due to increased research activity to create oestrogen-free medications with lower failure rates than oestrogen-based contraception.
Key Market Players
The major players in the market are Allergen plc, Johnson & Johnson, Bayer AG, Piramal Healthcare, Pfizer Inc., Teva Pharmaceutical Industries Ltd, and Novartis AG, are among others.
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