Contraceptive Drugs Market to Reach USD 13880 Million by 2028 with a CAGR of 3.9% | Valuates Reports
BANGALORE, India, July 13, 2022 /PRNewswire/ -- The Global Contraceptive Drugs Market is Segmented by Type (Oral, Injectable), by Application (Hospitals, Clinics): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Reproductive Health Category.
The global Contraceptive Drugs market size is projected to reach USD 13880 Million by 2028, from USD 10620 Million in 2021, at a CAGR of 3.9% during 2022-2028.
Major factors driving the growth of the Contraceptive Drugs market:
The need to prevent unwanted pregnancies and the rise in family planning concerns are two of the key drivers propelling the global contraceptive drugs market. Increased usage of contraceptives and rise in awareness among young women support contraceptive drugs market expansion.
Furthermore, it is anticipated that the contraceptive drugs market would develop in the years to come due to health issues related to teenage pregnancies, a rise in awareness of contemporary methods of contraception, and an increase in the use of oral tablets as an essential method of preventing unwanted births.
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TRENDS INFLUENCING THE GROWTH OF CONTRACEPTIVE DRUGS MARKET
Preventing pregnancy is easy, safe, and practical with the birth control pill. Additionally, it lessens acne, lightens and regularizes periods, and lessens cramping during the menstrual cycle. Many people prefer the pill because it makes their periods predictable and regular. Additionally, the hormones in the pill might ease period pain and menstrual cramps. These factors are expected to drive the growth of the contraceptive drugs market.
Growing Focus on Contraceptive Drugs & Awareness to Propel Demand is expected to drive the contraceptive drugs market. Non-profit groups, as well as local, state, and federal healthcare organizations, are increasingly focusing on enhancing the sexual and general health of women. Through a variety of campaigns and public awareness initiatives, these groups encourage the use of contraceptive methods and raise public awareness of them, including the rising use of these medications.
Improving access to Family Planning and Reproductive Health (FP/RH) services can have a positive impact on the economy as the number of unintended pregnancies and maternal deaths would be limited. The U.S. government supports global FP/RH efforts which is one of the largest distributors and purchasers of contraceptives. This factor is expected to further fuel the contraceptive drugs market.
Additionally, it is anticipated that during the forecast period, the research, approval, and commercialization of new, more powerful, and long-acting reversible contraceptive technologies would propel the industry's size.
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CONTRACEPTIVE DRUGS MARKET SHARE
Based on type, Oral Contraceptive Drugs are expected to be the most lucrative segment.
Based on region, North America is expected to be the most lucrative segment. This is due to increased awareness of contraceptive pills and a jump in the uptake of modern contraceptive medications, this area is expected to maintain its lead during the analysis period.
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Key Companies:
- Merck
- Pfizer
- Teva Pharmaceutical
- Bayer
- Allergan
- Janssen
- Mankind Pharma
- Piramal Enterprises
- Reckitt Benckiser
- Church & Dwight.
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