Contraceptive Drugs Market by

Contraceptive drugs market size was evaluated at $14,324.12 million in 2019, and is estimated to garner $24,412.22 million by 2027, registering a CAGR of 6.9%

PORTLAND, OREGON, UNITED STATES, August 25, 2022 /EINPresswire.com/ -- Surge in need for preventing unwanted pregnancy, rise in awareness for contraceptives across the world, increase in usage of oral contraceptives as a preferred method to avoid unplanned pregnancy, upsurge in government and NGO initiatives promoting contraceptives, and mounting awareness about STDs drive the growth of the global contraceptive drugs market. On the other hand, health risks associated with the use of contraceptive methods impede the growth to some extent. However, rise in disposable income, demand for healthy life in emerging economies, and presence of large unmet contraceptive needs in emerging Asian and African economies are expected to create lucrative opportunities for the key players in the industry.

The global contraceptive drugs market size was evaluated at $14,324.12 million in 2019, and is estimated to garner $24,412.22 million by 2027, registering a CAGR of 6.9% during the forecast period.

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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.

The oral contraceptive pills segment to maintain the lion's share by 2027-

Based on product, the oral contraceptive pills segment contributed to more than four-fifths of the global contraceptive drugs market share in 2019, and is anticipated to rule the roost by the end of 2027. Oral pills are the most common type of reversible contraception used worldwide due to its higher effectiveness and better convenience than its other counterparts. This factor propels the segment growth. The injectable contraceptives segment, on the other hand, would register the fastest CAGR of 8.0% throughout the forecast period. This is attributed to rise in awareness of injectable available in the market.

The 15-24 years segment to dominate during the forecast period-

Based on age group, the 15-24 years segment accounted for more than half of the global contraceptive drugs market revenue in 2019, and is expected to lead the trail by 2027, owing to augmented use of contraceptives among teenagers, early maturity among teenage girls, and increase in demand for contraceptives. At the same time, the above 44 years segment would exhibit the fastest CAGR of 9.0% during the forecast period. Women in the age group above 44 years are anticipated to consume oral pills, especially those who still believe they can deliver a child at this age. This factor propels the segment growth.

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North America to retain its dominance in terms of revenue-

Based on geography, North America held the major share in 2019, garnering around one-third of the global contraceptive drugs market, owing to rise in awareness regarding contraceptive pills, surge in adoption of modern contraceptive drugs, and alarming rise in prevalence of sexually transmitted diseases such as HIV/AIDS in the province. Simultaneously, the market across Asia-Pacific would showcase the fastest CAGR of 8.4% from 2020 to 2027, due to presence of large population base and proactive initiatives of governmental organizations for birth control and awareness in the region.

Frontrunners in the industry-

Allergan Plc
Bayer AG
Teva Pharmaceutical Industries Ltd.
GlaxoSmithKline Plc
Piramal Healthcare
Mylan N.V.
Pfizer Inc.
Johnson & Johnson
Agile Therapeutics
Novartis AG

We also Offers Regional and Country Reports-

Japan Contraceptive Drugs Market
South Korea Contraceptive Drugs Market
Singapore Contraceptive Drugs Market
China Contraceptive Drugs Market
Indonesia Contraceptive Drugs Market
Australia Contraceptive Drugs Market
Taiwan Contraceptive Drugs Market

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