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.
Contraceptives that are more than 99% effective:
- contraceptive implant (lasts up to 3 years)
- intrauterine system, or IUS (up to 5 years)
- intrauterine device, or IUD, also called the coil (up to 5 to 10 years)
- female sterilisation (permanent)
- male sterilisation or vasectomy (permanent)
According to the report, the global contraceptive drugs industry was estimated at $14.32 billion in 2019, and is expected to hit $24.42 billion by 2027, registering a CAGR of 6.9% from 2020 to 2027.
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Increase in the need to prevent unwanted pregnancy, increasing awareness about contraceptives across the world, and increasing use of oral contraceptives as the method of choice to avoid unplanned pregnancies is driving the growth of the contraceptives market. global age. In addition, the increase in government and NGO initiatives to promote prevention and growing awareness about STDs is fueling the growth of the global market. However, the health risks associated with using birth control methods limit growth to some extent. However, increasing disposable income, increasing demand for healthy living in emerging economies, and the presence of significant unmet preventive needs in emerging economies and Asia and Africa will bring many opportunities in the near future.
Covid-19 situation
The outbreak of the disease has faced vaccine manufacturers with a number of unprecedented and complex challenges in the supply chain and the lack of skilled labor. In addition, the decrease in the number of women visiting hospitals to receive contraceptives has affected the market. However, as restrictions are gradually eased, the global contraceptive market will recover quickly.
The global market is segmented on the basis of product, age group, end-user, and region. Based on product, the oral contraceptive pills segment held the lion’s share with more than four-fifths of the global contraceptive drugs market share in 2019, and is expected to dominate by the end of 2027. However, the injectable contraceptives segment is expected to manifest the fastest CAGR of 8.0% throughout the forecast period.
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North America to retain its dominance in terms of revenue-
Based on geography, 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.
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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