Rise in usage of oral contraceptives as a preferred method to avoid unplanned pregnancy drive the growth of the global contraceptive drugs market.

PORTLAND, OREGON, UNITED STATES, December 27, 2021 /EINPresswire.com/ -- According to the report by Allied Market Research, titled, "Contraceptive Drugs Market by Product (Oral Contraceptive Pills, Injectable Contraceptives, and Topical Contraceptives), Age Group (15–24 Years, 25–34 Years, 35–44 Years, and Above 44 Years), and End User (Homecare, Hospitals, and Clinics): Global Opportunity Analysis and Industry Forecast, 2020–2027". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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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Comprehensive competitive analysis and profiles of major market players, such as

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.

The growth of the global contraceptive drugs market is driven by alarming increase in the incidence of STDs, rise in unintended pregnancy rate, and need for family planning across the world, owing to rapidly growing population and socioeconomic burden related to teenage pregnancy. The impact of the drivers is expected to surpass that of the restraints.

Key Findings Of The Study:

Oral contraceptive drugs or pills was the leading segment in the global contraceptive drugs market in 2019, and is projected to grow at a CAGR of 6.8% during the forecast period.

Injectable contraceptives segment is poised to grow at a remarkable CAGR of 8.0% during the analysis period.

North America is the major shareholder, accounting for about 33.43% share in the global contraceptive drugs market.

Asia-Pacific accounted for around 24.80% of the total contraceptive drugs market in 2019.

Covid-19 scenario-

During the outbreak of the pandemic the contraceptive drug manufacturers have been through several challenges with unpredictable and distorted supply chain activities and lack of skillful human resources. Also, declined number of hospital visits by women to receive injectable further affected the market.

However, as the restrictions are getting eased off, the global market for contraceptive drugs is expected to recoup soon.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. 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 domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. 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. 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.

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