Contraceptive Drugs Market

Global Contraceptive Drugs Market:

Contraceptive Drugs Market - By Product, Age Group, End User, and Region.

Market Synopsis:

The Global Contraceptive Drugs Market is valued at USD 12.1 Billion in the year 2021 and is anticipated to reach a value of USD 16.5 Billion by the year 2028. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.4% over the forecast period.

Contraception is a method used to prevent unwanted pregnancies and reduce the risk of sexually transmitted infections aka STIs. Rising awareness for birth control and safe sex practices are expected to bolster the demand for Contraceptive Drugs across the world in the coming years. The increasing availability of sex education and rising focus on safe sex practices to avoid unwanted pregnancies are expected to aid Contraceptive Drugs Market growth over the coming years. Increased use of contraception in young women is expected to crucially shape Contraceptive Drugs Market potential across the forecast period.

The increasing availability of convenient and modern contraceptives and the high availability of preferred contraceptives are also expected to bolster the Contraceptive Drugs Market growth through 2028. However, health risks associated with prolonged use of Contraceptive Drugs are anticipated to have a constraining effect on the overall Contraceptive Drugs Market growth. The lockdown of 2020 led to a downfall of the Contraceptive Drugs Market as multiple sales channels were closed. However, the Contraceptive Drugs Market is expected to make a rapid recovery in the post-pandemic era as the world has now returned to normal and restrictions have been lifted.

Market Segmentation:

The Global Contraceptive Drugs Market is segmented based on Product, Age Group, and End-User. Based on the End-User the market is segmented as Homecare, Hospitals, and Clinics. Based on Product, the market is segmented as Oral Contraceptive Pills, Injectable Contraceptives, and Topical Contraceptives. Based on Age Group, the market is segmented as 15–24 years, 25–34 years, 35–44 years, and Above 44 years.

Based on End-user:

Based on End-user, the market is segmented as Homecare, Hospitals, and Clinics. The Home Care segment accounts for a prominent market share. Increasing consumption of oral contraceptives to prevent STIs and unwanted pregnancies is expected to drive demand in this segment across the forecast period. Increased demand for after-intercourse contraceptives is also expected to favor the growth of the home care segment in the Global Contraceptive Drugs Market landscape through 2028.

Based on Product-

Based on Product, the market is segmented into Oral Contraceptive Pills, Injectable Contraceptives, and Topical Contraceptives. The Oral Contraceptive Pills segment is anticipated to account for a dominant market share across the forecast period owing to the high preference for such contraceptives among consumers. The reversible nature of these contraceptives drives their popularity. High convenience and effectiveness are other factors that propel growth in this segment over the coming years. Injectable Contraceptives are anticipated to witness a rise in demand at a fast Compound Annual Growth Rate (CAGR) over the forecast period.

North America Accounts for a Dominant Market Share

Based on all the regions, the North American region is expected to lead the Global Contraceptive Drugs Marketplace. The presence of developed healthcare infrastructure, adequate sex education, high availability of Contraceptive Drugs, and high consumer spending potential are major factors that influence the Contraceptive Drugs Market potential in this region. The high prevalence of STIs is also expected to boost the adoption of contraceptives in this region. The United States is anticipated to account for a significant market share in the North American market. The region held a market share of 45.1% in 2021 and was valued at USD 5.4 billion. The demand for Contraceptive Drugs is expected to rise fastest in the Asia Pacific region owing to increasing awareness for contraceptives and government initiatives to boost the same.

Competitive Landscape:

The key players in the Global Contraceptive Drugs Market include- Agile Therapeutics, Allergan PLC, Bayer AG, GlaxoSmithKline PLC, Johnson & Johnson, Piramal Healthcare, Mylan N.V., Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd. and others.

Segmentation of the Global Contraceptive Drugs Market: