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.
Key Takeaways:
The global contraceptive drugs market is expected to continue to grow, driven by factors such as increasing awareness of contraception, rising demand for family planning services, and technological advancements.
Combination oral contraceptives (COCs) remain the most popular type of contraceptive drugs, accounting for the majority of the market share.
Other types of contraceptive drugs, such as injectables, transdermal patches, and intrauterine devices (IUDs), are also gaining popularity due to their ease of use and efficacy.
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Market Drivers
Increasing Awareness: There is a growing awareness of the benefits of contraception, such as preventing unintended pregnancies and sexually transmitted infections (STIs). This has led to an increase in demand for contraceptive drugs.
Rising Demand for Family Planning: With increasing urbanization and the desire for smaller families, there is a growing demand for family planning services. Contraceptive drugs are an important component of these services.
Technological Advancements: The development of new and innovative contraceptive drugs, such as long-acting reversible contraceptives (LARCs) and non-hormonal options, is driving growth in the market. These options provide women with more choices and increased convenience.
Market Segmentation
Product Type: This includes combination oral contraceptives (COCs), progestin-only pills (POPs), injectables, transdermal patches, vaginal rings, intrauterine devices (IUDs), and implants.
Distribution Channel: This includes retail pharmacies, hospitals, clinics, and e-commerce.
End User: This includes women and men.
Geography: This includes North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Hormonal Vs. Non-hormonal: This includes hormonal contraceptive drugs that contain synthetic hormones and non-hormonal contraceptive drugs that do not contain hormones.
Prescription Vs. Over-the-Counter (OTC): This includes prescription drugs that require a doctor’s prescription and OTC drugs that can be purchased without a prescription.
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Regional Growth Dynamics
The market is studied across various regions including Asia-Pacific, Europe, LAMEA, and North America. The market across North America held the major share in 2019, with around one-third of the global contraceptive drugs market. Moreover, the market across Asia-Pacific is expected to showcase the fastest CAGR of 8.4% from 2020 to 2027.
Competitive Landscape
- Bayer AG
- Pfizer Inc.
- Merck & Co., Inc.
- Allergan plc
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- HLL Lifecare Limited
- Piramal Enterprises Ltd.
- Cipla Inc.
- Lupin Pharmaceuticals, Inc.
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