Contraceptive Drugs Market Trends & Forecast 2023-2030

Global Contraceptive Drugs Market Set to Reach USD 22.4 Billion by 2030, Showing a CAGR of 6.6%

The global contraceptive drugs market, valued at USD 13.6 billion in 2022, is poised for substantial growth, projected to reach USD 22.4 billion by 2030. This trajectory reflects a robust Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period spanning 2023 to 2030.

Contraception usage, a pivotal component in averting undesired pregnancies, plays a crucial role in minimizing the need for abortions and subsequently reducing instances of unsafe abortion-a leading cause of maternal mortality globally.

The positive impact of contraception extends to lowering mother and infant mortality rates. Planned and appropriately spaced pregnancies facilitate women in accessing adequate prenatal care, contributing to improved health outcomes for both mothers and newborns.

The growth of the contraceptive drugs market is fueled by several factors, including an increased focus on family planning, the prevention of unwanted pregnancies, a rise in contraceptive usage among young women, and an increase in higher educational attainment. These factors collectively propel market expansion.

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Contraceptive Drugs Market Dynamics:
Increase in R&D Activities
A surge in research and development activities is driving market growth, introducing innovative treatment options and addressing the challenges associated with unwanted pregnancies. Clinical trials are pivotal in introducing new contraceptive pills and gels, as well as navigating evolving regulations on birth control procedures. Notably, Copenhagen University Hospital, Rigshospitalet, Denmark, has initiated clinical studies as part of "The Pill Project - Oral Contraceptive and Serotonergic Brain Signaling," with an estimated completion date of August 2025.

Rising Prevalence of Sexually Transmitted Diseases (STD) Coupled with Favorable Initiatives:
The global rise in sexually transmitted diseases (STD) is expected to boost the demand for contraceptives, including pills, patches, and rings. Organizations such as the World Health Organization (WHO) are actively working to improve contraceptive services and prevent infections. Notably, over 1 million STIs are acquired daily globally, emphasizing the urgency of initiatives aimed at increasing awareness and focusing on sexual health.

Contraceptive Drugs Market Segment Analysis:
Oral Contraceptive Pills Dominate, Accounting for 46.3% Market Share
The oral contraceptive pills segment holds a substantial market share, approximately 46.3%, during the forecast period. These birth control pills, when used correctly, offer a reliable and reversible method of contraception by blocking egg release from the ovaries. Recent developments, such as the availability of Drovelis by Gedeon Richter UK Ltd. in the UK, underscore ongoing advancements in contraceptive options.

Global Contraceptive Drugs Market Geographical Penetration:
North America Commands 37.6% Market Share in 2022
North America is anticipated to hold approximately 37.6% of the total market share throughout the forecast period. Factors contributing to this dominance include favorable FDA approvals, government programs, a high incidence of undesired pregnancies, and an increase in sexually transmitted infections. Perrigo Company plc's announcement in July 2022, regarding the submission of an application to the US FDA for the first-ever OTC birth control pill in the US by HRA Pharma, reinforces the region's active role in advancing contraceptive solutions.

Contraceptive Drugs Market Companies:
Major Global Players Leading the Way
Key players in the global contraceptive drugs market include Teva Pharmaceuticals, Merck & Co Inc, Agile Therapeutics, Ansell Ltd, Mayer Laboratories Inc, Veru Inc, Pfizer Inc, Bayer AG, Abbvie Inc, and others.

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