Contraceptive Drugs Market Evaluation to Hit $24.41 Billion by 2027 | Pfizer Inc., GlaxoSmithKline Plc, Novartis AG

PORTLAND, ID, UNITED STATES, December 4, 2024 /EINPresswire.com/ -- Growth in need to prevent unwanted pregnancy, surge in awareness for contraceptives across the world, and rise in usage of oral contraceptives as a preferred method to avoid unplanned pregnancy drive the growth of the global contraceptive drugs market. In addition, increase in government and NGO initiatives promoting contraceptives and mounting awareness about STDs further fuel the growth of the global market. However, health risks related to the use of contraceptive methods restrain the growth to some extent. Nevertheless, rise in disposable income, growth in demand for healthy life in emerging economies, and presence of large unmet contraceptive needs in emerging Asian and African economies are anticipated to present an array of opportunities in the near future.

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.

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The global contraceptive drugs market is segmented into product, age group, end user, and region. On the basis of product, the contraceptive drugs market is classified into oral (pills), injectable, and topical contraceptives. The oral contraceptive drugs or oral contraceptive pills segment accounted for over 85.36% share in in 2019. This is attributed to the fact that oral pills are the most conventional type of reversible contraception used globally. Superior efficiency and better closeness in contrast to other contraceptive methods have made them a preferred form of contraception. In addition, presence of huge end user base and proactive government programs to cater to the unmet needs of contraception have boosted the market growth. However, the injectable contraceptives segment is estimated to register a CAGR of 8.0% during the forecast period, due to upsurge in awareness of injectables available in the market and increase in population that triggers the urgency of controlling birth rates across several countries in the world.

Key Takeaways:

Oral Contraceptive Drugs segment would continue to maintain the lead over the forecast period.

15-24 years segment is projected as one of the most lucrative segment.

Household segment would continue to maintain the lead over the forecast period.

North America would continue to maintain the lead over the analysis period.

Market Segmentation:

Based on age group, the 15-24 years segment dominated the market with more than half of the global contraceptive drugs market revenue in 2019, and is anticipated to rule the roost by 2027. On the other hand, the above 44 years segment would exhibit the fastest CAGR of 9.0% during the forecast period.

Based on geography, 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.

The global contraceptive drugs market has been examined based on four regions, North America, Europe, Asia-Pacific, and LAMEA. North America accounted for majority of the share in the global contraceptive drugs market in 2019. This region is projected to uphold its lead throughout the analysis period, owing to rise in awareness regarding contraceptive pills, surge in adoption of modern contraceptive drugs, and increase in prevalence of STDs such as HIV/AIDS. U.S. accounts for the significant share in the overall North American contraceptive drugs market. Asia-Pacific is anticipated to grow at the fastest pace during the forecast period, due to presence of large population base and proactive initiatives of governmental organization for birth control. Furthermore, availability of cost-effective contraceptive drugs in this region proposes profitable opportunity to contraceptive drug manufacturers. Launch of awareness programs by government agencies and other regulatory bodies to amplify the homecare usage of contraceptive drugs drive the contraceptive drugs market growth in Asia-Pacific and LAMEA.

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The key players profiled in this report include Agile Therapeutics, Allergan Plc, Bayer AG, GlaxoSmithKline Plc, Johnson & Johnson, Piramal Healthcare, Mylan N.V., Pfizer Inc., Novartis AG and Teva Pharmaceutical Industries Ltd. Other players operating in the market are HLL Lifecare ltd., and Sanofi.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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