Press release
Contraceptive Drugs Market Size, Share, Industry, Forecast and outlook (2024-2031)
DataM Intelligence
Global Contraceptive Drugs Market Poised for Striking Growth, Projected to Reach USD 22.4 Billion by 2030
The global contraceptive drugs market demonstrated robust performance in 2022, reaching an impressive USD 13.6 billion. Forecasts indicate a lucrative trajectory, with projections soaring to USD 22.4 billion by 2030, showcasing a noteworthy Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period from 2024 to 2031.
The significance of contraceptive usage extends beyond individual choices, playing a pivotal role in minimizing the need for abortions and curbing unsafe abortion-related maternal mortality globally. Planned and adequately spaced pregnancies, facilitated by contraception, contribute to improved health outcomes for both mothers and infants.
Driving Factors
The growth of the global contraceptive drugs market is propelled by various factors, including an increased focus on family planning, the rise in contraception use among young women, and higher educational attainment. Geographically, Asia-Pacific emerges as the fastest-growing region, while North America takes the lead as the largest region.
Market Scope and Metrics
CAGR: 6.6%
Forecast Period: 2024-2031
Data Availability: 2021-2030
Segments Covered: Type, Distribution Channel, and Region
Regions Covered: North America, Europe, Asia-Pacific, South America, and Middle East & Africa
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Market Dynamics
Increase in R&D Activities:
The flourishing market is witnessing increased research and development activities aimed at introducing innovative treatment options. Clinical trials, such as The Pill Project by Copenhagen University Hospital, Denmark, highlight ongoing efforts to address new laws and limitations on current birth control procedures, including the development of non-hormonal options for men.
Rising Prevalence of Sexually Transmitted Diseases (STD):
The global rise in sexually transmitted diseases (STD) is expected to boost the demand for contraceptives. Initiatives from the World Health Organization (WHO) and other organizations focus on increasing awareness and preventing infections, considering the alarming statistics on STIs globally.
Side Effects Associated with Contraceptive Pills:
Common side effects, such as breakthrough bleeding, nausea, headaches, and others, are being addressed. Strategies to minimize adverse effects, such as taking medication at night before sleep, are being explored.
Segment Analysis
Oral Contraceptive Pills:
This segment accounts for approximately 46.3% of the contraceptive market share. Notably, Gedeon Richter UK Ltd. introduced Drovelis, a combined oral contraceptive, in the UK, showcasing the continuous innovation in this segment.
Geographical Share
North America:
Holding about 37.6% of the market share in 2022, North America is anticipated to maintain its stronghold throughout the forecast period. Factors such as favorable FDA approvals, government programs, and a high number of undesired pregnancies contribute to this dominance.
Key Players
Major 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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Email: info@datamintelligence.com
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DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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