Contraceptive Drugs Market to Reach $24.42 Bn, Globally, by 2027 at 6.9% CAGR: Allied Market Research
Surge in need for preventing unwanted pregnancy, upsurge in government and NGO initiatives promoting contraceptives, and mounting awareness about STDs drive the growth of the global contraceptive drugs market.
PORTLAND, Ore., March 9, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Contraceptive Drugs Market by Product (Oral Contraceptive Pills, Injectable Contraceptives, and Topical Contraceptives), Age Group (15–24 Years, 25–34 Years, 35–44 Years, and Above 44 Years), and End User (Homecare, Hospitals, and Clinics): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global contraceptive drugs industry was estimated at $14.32 billion in 2019, and is expected to hit $24.42 billion by 2027, registering a CAGR of 6.9% from 2020 to 2027.
Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/9850
Drivers, restraints, and opportunities-
Surge in need for preventing unwanted pregnancy, rise in awareness for contraceptives across the world, increase in usage of oral contraceptives as a preferred method to avoid unplanned pregnancy, upsurge in government and NGO initiatives promoting contraceptives, and mounting awareness about STDs drive the growth of the global contraceptive drugs market. On the other hand, health risks associated with the use of contraceptive methods impede the growth to some extent. However, rise in disposable income, demand for healthy life in emerging economies, and presence of large unmet contraceptive needs in emerging Asian and African economies are expected to create lucrative opportunities for the key players in the industry.
Covid-19 scenario-
- The outbreak of the pandemic made contraceptive drug manufacturers face several challenges with unpredictable and distorted supply chain activities and lack of skillful human resources. Also, decrease in the number of hospital visits by women to receive injectables affected the market.
- However, as the restrictions are gradually being eased off, the global market for contraceptive drugs is expected to recoup soon.
The oral contraceptive pills segment to maintain the lion's share by 2027-
Based on product, the oral contraceptive pills segment contributed to more than four-fifths of the global contraceptive drugs market share in 2019, and is anticipated to rule the roost by the end of 2027. Oral pills are the most common type of reversible contraception used worldwide due to its higher effectiveness and better convenience than its other counterparts. This factor propels the segment growth. The injectable contraceptives segment, on the other hand, would register the fastest CAGR of 8.0% throughout the forecast period. This is attributed to rise in awareness of injectable available in the market.
The 15-24 years segment to dominate during the forecast period-
Based on age group, the 15-24 years segment accounted for more than half of the global contraceptive drugs market revenue in 2019, and is expected to lead the trail by 2027, owing to augmented use of contraceptives among teenagers, early maturity among teenage girls, and increase in demand for contraceptives. At the same time, the above 44 years segment would exhibit the fastest CAGR of 9.0% during the forecast period. Women in the age group above 44 years are anticipated to consume oral pills, especially those who still believe they can deliver a child at this age. This factor propels the segment growth.
Enquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/purchase-enquiry/9850
North America to retain its dominance in terms of revenue-
Based on geography, North America held the major share in 2019, garnering around one-third of the global contraceptive drugs market, owing to rise in awareness regarding contraceptive pills, surge in adoption of modern contraceptive drugs, and alarming rise in prevalence of sexually transmitted diseases such as HIV/AIDS in the province. Simultaneously, the market across Asia-Pacific would showcase the fastest CAGR of 8.4% from 2020 to 2027, due to presence of large population base and proactive initiatives of governmental organizations for birth control and awareness in the region.
Frontrunners in the industry-
- Allergan Plc
- Bayer AG
- Teva Pharmaceutical Industries Ltd.
- GlaxoSmithKline Plc
- Piramal Healthcare
- Mylan N.V.
- Pfizer Inc.
- Johnson & Johnson
- Agile Therapeutics
- Novartis AG
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
Similar Reports:
Contraceptives Market - Global Opportunity Analysis and Industry Forecast, 2020–2027
Hormonal Contraceptive Market - Global Opportunity Analysis and Industry Forecast, 2019-2027
Disposable Medical Gloves Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
Biobanking Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
Asia-Pacific IVF Services Market - Global Opportunity Analysis and Industry Forecast, 2019–2027
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article