Pune, India, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The global contraceptive drugs market size is expected to reach USD 18.37 billion by 2028, exhibiting a CAGR of 5.6% during the forecast period. The increasing cognizance regarding contraceptives through awareness programs can have an excellent impact on the market during the forecast period, states Fortune Business Insights, in a report, titled “Contraceptive Drugs Market, 2021-2028.” The market size stood at USD 13.01 billion in 2020.
Key Development:
February 2020: Agile Therapeutics announced received U.S. FDA approval for Twirla (levonorgestrel and ethinyl estradiol), a contraceptive transdermal patch for woman.
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Drivers & Restraints:
Increasing Health and Sexual Wellness Plans to Augment Growth
Non-profit groups and regional and national healthcare authorities are increasingly focusing on improving women's health and sexual well-being. These organizations promote the use of contraceptives and raise public awareness about various methods of contraception through various campaigns and public awareness activities. This, together with the rising number of goods put into the market by major global and domestic companies, is propelling the contraceptive drugs market growth.
The major reason boosting the worldwide market's growth is the increasing attention of leading industry players and healthcare authorities on generating awareness through public initiatives in order to extend access to contraceptives. Furthermore, government organizations in developing nations are encouraging the use and acceptance of contraceptive medicines to reduce population growth and undesired pregnancies among adults. For example, Ireland's government stated in December 2020 that it will provide free contraception to women aged 17 to 25.
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Regional Insights:
Increasing Number of Childbearing Population to Foster Growth in North America
In 2020, the contraceptive medicines industry in North America will be worth USD 6.56 billion. North America's supremacy in 2020 will be attributed to a high level of contraceptive awareness among the population and an increasing number of childbearing women and a low fertility rate in the region. Contraceptive use is greater in North America, according to research issued by the United Nations. Around 62 percent of women aged 15 to 49 in the U.S. use some kind of contraception, with more than 13 percent of these women using oral contraceptives. In the global market, Europe held the second-largest contraceptive drugs market share. This can be linked to Europe's rising childbearing population as well as robust contraception reimbursement regulations.
Market Segments:
Based on product, the global market for contraceptive drugs is segmented into oral, injectable, and patches. The oral segment is further categorized into combined contraceptives, and progestin-only pills. The global market is classified into hospital pharmacy, retail pharmacy, clinics, online channel, public channel & NGOs, and others based on distribution channels. Geographically, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
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Competitive Landscape:
Product Launches by Prominent Companies to Consolidate Business
The market is fragmented, with a small number of multinational companies and many local generic medicine producers. To obtain a competitive advantage over other competitors, the market's top players rely on research and development and strategic alliances. For example, Bayer AG stated in January 2020 that it had reached a deal with Daré Bioscience, Inc. to sell Daré's experimental contraceptive medicine in the U.S. upon FDA clearance.
The Report Lists the Key Companies in the Market:
- Piramal Enterprises Ltd. (Mumbai, India)
- Agile Therapeutics (New Jersey, U.S.)
- Janssen Global Services, LLC (Raritan, New Jersey, U.S.)
- AbbVie Inc. (Lake Bluff, U.S.)
- Pfizer Inc. (New York, U.S.)
- Teva Pharmaceutical Industries Ltd. (Petah Tikva, Israel)
- Viatris Inc. (Canonsburg, U.S.)
- Amneal Pharmaceuticals, Inc. (Bridgewater Township, U.S.)
- Bayer AG (Leverkusen, Germany)
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Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Total Fertility Rate, Key Countries, 2019
- Penetration of Oral Contraceptive Pills
- Penetration of Injectable Contraceptives
- Pipeline Analysis
- New Product Launches
- Regulatory Scenario – Contraceptive Drugs Market
- Recent Industry Developments (Mergers, Acquisitions, etc.)
- Impact of COVID-19 on the Market
- Global Contraceptive Drugs Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Oral
- Combined Contraceptives
- Progestin-only Pills
- Injectable
- Patches
- Oral
- Market Analysis, Insights and Forecast – By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Clinics
- Online Channel
- Public Channel & NGOs
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
ToC Continue…!
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