Contraceptive Drugs Market Overview, Business insights and Forecast to 2023
Market Analysis
There are numerous factors that is driving the contraceptive drugs market. Some of the market factors and trends in this market as per a study conducted by Market Research Future (MRFR) includeincrease in the existence of sexually transmitted diseases, increasing focus on the advancements in technology, rise in the initiatives taken by governments and NGOs for promoting the use of contraceptive drugs, increasing innovations and research activities in this field, rising use of contraception drugs in young women, increase in higher education attainment, increase in the intake of oral pills and awareness about modern contraception. On the contrary, factors such as strict governmental rules in most of the countries, side effects associated with contraceptive drugs, religious and cultural opposition of such drugs in developing countries and also the rising prevalence of infertility is projected to restrict the growth of the Contraceptive Drugs Market Report in the coming years.
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The global contraceptive drugs market is expected to touch new high of around USD 22.15 billion at a splendid 6.5% CAGR during the forecast period (2018-2023). Simply put, contraceptive drugs or pills are medicines that help in preventing unwanted pregnancy. It will block the usual ovulation process or alter the process that supports the egg’s fertilization. Patches, combined oral contraceptives, implants, injectables, vaginal rings and intra-uterine devices (IUDs) are the most recent contraceptive methods that is accessible in the market.
Key Players
Cooper Surgical (US), Mayer Laboratories (US), The Female Health Company (US), Church & Dwight (US), Reckitt Benckiser Plc (UK), Piramal Enterprises Ltd (India), Mankind Pharma Ltd. (India), Janssen Global Services llc. (US), Allergan plc. (Ireland), Bayer AG (Germany), Teva Pharmaceutical Industries Ltd. (Israel), Pfizer Inc (US) and Merck & Co., Inc (US)
Market Segmentation
· Market Research Future report offers an all-inclusive segmental analysis of the Contraceptive Drugs Market Analysis on the basis of type and end-user.
· Based on type, it is segmented into injectable, oral contraceptive and others. The oral contraceptive segment is further segmented into progestogen-only pills and oral contraceptive pills. Of these, the oral contraceptives segment is expected to have the maximum share in the contraceptive drugs market during the forecast period due to widespread utilization of oral pills by women.
· Based on end user, the contraceptive drugs market is segmented into hospitals, clinics and others.
Regional Analysis
Based on region, the contraceptive drugs market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will command the market due to rising awareness amid people coupled with increase in the rates of abortion. As per the 2015 report published by the Centers for Disease Control and Prevention, approximately 229,715 babies had been born from females aged 15-19 years. Europe also has a favourable share in the contraceptive drugs market due to increasing awareness regarding healthcare industries, well-developed technology and increasing government support. Besides, companies here are mostly into export that will boost up the share of the market across the globe. The APAC and the Middle East and Africa are also likely to have a favorable share.
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Countries such as China and India will experience the fastest growth in the contraceptive drugs market owing to increasing incidence of pregnancy amid teenagers. As per WHO, the birth rates in adolescents is 45 births/1000 females in South-Eastern Asia while 7 births/1000 females in Eastern Asia. They are open for adopting new treatment choices from developed countries. It is this gap amid the developed countries and the developing countries that will offer growth opportunities for the market players in the near future.
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