Contraceptive Drugs Market 2023: Strong Growth at a CAGR of 6.9% and Revenue to Hit USD 24.42 Billion by 2027

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. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Market Growth: The contraceptive drugs market has experienced steady growth in recent years and is expected to continue expanding. Factors such as increasing awareness about family planning, rising prevalence of sexually transmitted infections (STIs), and the need for effective birth control methods contribute to market growth.

Contraceptive Types: The market offers a wide range of contraceptive drugs, including oral contraceptives (pills), injectables, implants, patches, and intrauterine devices (IUDs). Each type of contraceptive drug has its own advantages and effectiveness, providing individuals with various options to choose from based on their preferences and needs.

Hormonal Contraceptives Dominance: Hormonal contraceptives, such as oral contraceptives and injectables, have been the dominant segment in the contraceptive drugs market. These drugs contain synthetic hormones that prevent pregnancy by suppressing ovulation, thickening cervical mucus, and altering the uterine lining.

Non-Hormonal Alternatives: While hormonal contraceptives are widely used, there is also a growing demand for non-hormonal contraceptive options. Non-hormonal contraceptives, such as copper IUDs and barrier methods like condoms and diaphragms, provide effective birth control without altering hormone levels.

Technological Advancements: The contraceptive drugs market has witnessed technological advancements aimed at improving efficacy, convenience, and user experience. For example, the development of long-acting reversible contraceptives (LARCs) like hormonal implants and IUDs has gained popularity due to their high effectiveness and long-lasting protection.

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Market Drivers:

Increasing Awareness and Education: Growing awareness about family planning, contraception, and sexual health has played a significant role in driving the contraceptive drugs market. Educational campaigns, government initiatives, and healthcare provider efforts have contributed to increased knowledge and understanding of contraceptive options, leading to higher adoption rates.

Rising Global Population: The world’s population is increasing rapidly, particularly in developing countries. This population growth has led to a greater need for effective family planning methods, resulting in increased demand for contraceptive drugs.

Market Segmentation:

Product Type:

• Oral Contraceptives: This segment includes contraceptive pills, which are taken orally and contain synthetic hormones to prevent pregnancy.
• Injectable Contraceptives: These are hormonal contraceptives administered through injections, providing contraception for a certain period.
• Topical Contraceptives: This segment includes contraceptive patches and gels that are applied topically to provide contraception.
• Implants: This segment includes subdermal implants that release hormones over an extended period to prevent pregnancy.
• Intrauterine Devices (IUDs): IUDs are inserted into the uterus and can be hormonal or non-hormonal, providing long-term contraception.
• Others: This category includes less common contraceptive drugs such as vaginal rings, diaphragms, and spermicides.

Hormonal vs. Non-Hormonal:

Contraceptive drugs can be categorized as hormonal or non-hormonal. Hormonal contraceptives contain synthetic hormones (estrogen and/or progestin) that prevent ovulation and alter the uterine lining and cervical mucus. Non-hormonal contraceptives, such as copper IUDs and barrier methods (e.g., condoms), do not contain hormones but work by physically blocking sperm or inhibiting fertilization.

Prescription vs. Over-the-Counter (OTC):

Contraceptive drugs can be classified as prescription-only or available over-the-counter (OTC) without a prescription. Some countries allow certain types of contraceptive drugs to be sold directly to consumers without the need for a prescription, increasing accessibility and convenience.

Geography:

The market can be segmented based on geographical regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Each region may have specific market dynamics, regulatory frameworks, and cultural factors that influence the demand and adoption of contraceptive drugs.

End-User:

Contraceptive drugs can be segmented based on the target demographic or end-user. This may include women of reproductive age, men (e.g., through male contraceptive methods), or healthcare providers who prescribe or administer contraceptive drugs.

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Regional Growth Dynamics:

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.

Competitive Landscape:

• Bayer AG
• Pfizer Inc.
• Merck & Co., Inc.
• Teva Pharmaceutical Industries Ltd.
• Allergan plc (now part of AbbVie Inc.)
• Mylan N.V. (now part of Viatris Inc.)
• Church & Dwight Co., Inc.
• Mankind Pharma Ltd.
• Reckitt Benckiser Group plc (RB)
• Lupin Pharmaceuticals, Inc.

Recent developments:

• Approval of New Contraceptive Drugs: Several new contraceptive drugs received regulatory approvals during the past few years. For example, in 2020, the U.S. Food and Drug Administration (FDA) approved a new progestin-only pill called Slynd, offering an additional option for women seeking oral contraception.
• Expansion of Non-Hormonal Contraceptive Options: There has been an increased focus on non-hormonal contraceptive methods to cater to individual preferences and address hormonal side effects. Copper IUDs, which provide long-term contraception without hormones, have gained popularity.

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