Total Birth Control Market Growth Is Attributed To The Increasing Demand For Combination Oral Contraceptives

According to Precision Business Insights (PBI), the latest report, the total birth control market is expected to be worth USD billion in 2022, growing at a 6% CAGR from 2022 to 2028. The rise in awareness of sexual health and family planning among young people and the increased use of modern contraception are two major factors influencing the market's expansion. Additionally, government initiatives have increased access to contraceptives that aid in preventing teenage pregnancies without consent. However, introducing fresh ideas and technology during the outbreak led to adoption of telemedicine and telehealth as the standard of care for beginning and maintaining contraception. With the help of technology, patients can connect with various telehealth modalities to receive medical care. The sector's advancement has been supported by digital health technology to improve decision-making data, evidence-based family planning treatments, and decrease contraception stockouts. The industry's value has increased due to funding mobile outreach programs that distribute a variety of contraceptives in locations with limited access to healthcare providers.

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Combination Oral Contraceptives Segment to Dominate the Total Birth Control Market:
The combination oral contraceptives segment is expected to account for a larger revenue share in the global total birth control market, with a value share worldwide. It is projected to grow at a X% CAGR between 2022 and 2028. The market for contraceptives driven by the numerous benefits these pills provide in reducing the risk of STIs, preventing pregnancy, and managing the birth rate, among other things. According to a WHO assessment, around 10 million unplanned births among teenage females between the ages of 15 and 19 occur each year in developing nations. The industrial demand for contraception medications is fueled by the sharp rise in unwanted pregnancies, which is driving up the market.

North America Total Birth Control Market:
The North America market is expected to increase in the global total birth control market over the forecast period. It is projected to grow at a CAGR of 7.1% in the coming years. During the forecast period, it is anticipated that the development, approval, and marketing of new, more potent, and long-acting reversible contraceptive techniques will push the industry scale. For instance, Twirla, a hormonal patch created by Agile Therapeutics, was made available in the United States in the fourth quarter of 2020. Teenagers' desire for contraceptives has increased due to the introduction of generic and inexpensive medications and technologies. Furthermore, since they reduce the possibility of side effects linked to hormonal imbalance in the body, nonhormonal contraceptives are becoming more popular in the United States.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global total birth control market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In January 2020, Bayer signed a license agreement with Daré Bioscience, Inc., in which Bayer may commercialize Daré's investigational contraceptive product, Ovaprene in the United States once approved by the FDA. In February 2020, Bayer and Nuvisan create new research unit in Berlin, it will support Bayer's increased focus on the flexibility and productivity of its R&D operating model. In September 2020, Bayer acquired the 100% of the shares in biotech company KaNDy Therapeutics Ltd., United Kingdom, further expanding its development portfolio in women's health.

The total birth control market is segmented based on method, end user, and geography.
Based on the method, the market is segmented into the following:
• Hormonal Intrauterine Device
• Copper Intrauterine Device
• Combination Oral Contraceptives
• Progestin Only Oral Contraceptives
• Injectable Contraceptives
• Birth Control Implants
• Vaginal Rings
• Diaphragms
• Male Condoms
• Female Condoms
• Others

Based on the end user, the market is segmented into the following:
• Hospitals
• Gynaecology Clinics
• Community Health Care Centers
• Online Channel
• Public Channel
• Others

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Key players profiles in the total birth control market report are Allergan, Bayer AG, The Cooper Companies, Inc., Merck, Mylan N.V., Novartis (Sandoz), Pfizer, Inc., DKT International, AFAXYS, INC., and Teva Pharmaceutical Industries Ltd.

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