Contraceptive Drugs Market Expected to Reach $24.41 Billion by 2027

According to a new report published by Allied Market Research, titled, “Contraceptive Drugs Market by Product, Age Group, and End User: Opportunity Analysis and Industry Forecast, 2020–2027," the global contraceptive drugs market size was valued at $14.32 billion in 2019, and is projected to garner $24.41 billion by 2027, registering a CAGR of 6.9% during the analysis period. Contraception comprises the use of drugs for preventing pregnancy, transmission of sexually transmitted infections (STDs), and birth control & family planning. The usage of contraceptive drugs and emergency contraceptives especially for teenagers and surge in awareness about sexually transmitted infections (STIs) are the foremost factors responsible for the growth of the global contraceptive drugs market. Increase in popularity and recognition of oral contraceptives as a reliable method for contraception has driven the demand for contraceptives, especially in developed regions. Moreover, rise in awareness of modern contraceptive drugs in developing economies has notably contributed toward the global market growth. However, associated risks, sociocultural influences of contraceptives, and side effects such as infertility resulting from the use of contraception are the major restraints of the market. 

The global contraceptive drugs market is segmented into product, age group, end user, and region. On the basis of product, the contraceptive drugs market is classified into oral (pills), injectable, and topical contraceptives. The oral contraceptive drugs or oral contraceptive pills segment accounted for over 85.36% share in in 2019. This is attributed to the fact that oral pills are the most conventional type of reversible contraception used globally. Superior efficiency and better closeness in contrast to other contraceptive methods have made them a preferred form of contraception. In addition, presence of huge end user base and proactive government programs to cater to the unmet needs of contraception have boosted the market growth. However, the injectable contraceptives segment is estimated to register a CAGR of 8.0% during the forecast period, due to upsurge in awareness of injectables available in the market and increase in population that triggers the urgency of controlling birth rates across several countries in the world.

On the basis of age group, women in the age group of 15–24 years dominated the global contraceptive drugs market in 2019. This is attributed to the augmented use of contraceptives among teenagers, early maturity among teenage girls, and increase in demand for contraceptives. On the contrary, women aged above 44 years are the minimum contributors to the market growth, owing to menopause in women at the age 44 years and above.

On the basis of end user, the market is classified into homecare, hospitals, and clinics. The homecare segment garnered the largest share in the global contraceptive market, owing to the extensive consumption of oral pills to prevent unplanned pregnancy and STIs. Contraceptives that are favored in home settings comprise oral pills, topical contraceptives, and contraceptive patches. These contraceptives help to reduce the risk of pregnancy and chance of getting STIs. Increase in use of contraceptive drugs at home has improved health-related outcomes such as maternal & infant mortality; reduced the risk of STI such as HIV, hepatitis B, syphilis, and gonorrhea; and improved economic outcomes of a family.

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.

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. Asia-Pacific is anticipated to grow at the fastest pace during the forecast period, due to presence of large population base and proactive initiatives of governmental organization for birth control. Furthermore, availability of cost-effective contraceptive drugs in this region proposes profitable opportunity to contraceptive drug manufacturers. Launch of awareness programs by government agencies and other regulatory bodies to amplify the homecare usage of contraceptive drugs drive the contraceptive drugs market growth in Asia-Pacific and LAMEA.