Rise in unintended pregnancy rate, and need for family planning across the world

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 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.

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.

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 global market is segmented on the basis of product, age group, end-user, and region. Based on product, the oral contraceptive pills segment held the lion’s share with more than four-fifths of the global contraceptive drugs market share in 2019, and is expected to dominate by the end of 2027. However, the injectable contraceptives segment is expected to manifest the fastest CAGR of 8.0% throughout the forecast period.

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Based on age group, the 15-24 years segment dominated the market with more than half of the global contraceptive drugs market revenue in 2019, and is anticipated to rule the roost by 2027. On the other hand, the above 44 years segment would exhibit the fastest CAGR of 9.0% during the forecast period.

Key Findings Of The Study 

  • Oral contraceptive drugs or pills was the leading segment in the global contraceptive drugs market in 2019, and is projected to grow at a CAGR of 6.8% during the forecast period.
  • Injectable contraceptives segment is poised to grow at a remarkable CAGR of 8.0% during the analysis period.
  • North America is the major shareholder, accounting for about 33.43% share in the global contraceptive drugs market.
  • Asia-Pacific accounted for around 24.80% of the total contraceptive drugs market in 2019.

The key players profiled in this report include Agile Therapeutics, Allergan Plc, Bayer AG, GlaxoSmithKline Plc, Johnson & Johnson, Piramal Healthcare, Mylan N.V., Pfizer Inc., Novartis AG and Teva Pharmaceutical Industries Ltd. Other players operating in the market are HLL Lifecare ltd,  and Sanofi.

Read More: https://www.alliedmarketresearch.com/contraceptive-drugs-market-A09485

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