Wednesday, 07 June 2023 03:18 GMT

Contraceptive Pills Market Is Expected To Reach $24.42 Billion By 2027

(MENAFN- EIN Presswire)

Report provides detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, competitive scenario, and regional landscape.

PORTLAND, OREGON, UNITED STATES, September 22, 2022 / / -- 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.

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 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 report provides detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, competitive scenario, and regional landscape.

In detail along with the table of contents, please click on the link below:

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 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.

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.

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.

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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

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.

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

“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

About Allied Market Research:

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 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.

David Correa
Allied Analytics LLP
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