Global Contraceptive Drugs Market Size Worth USD 16.5 Billion, by 2028 at 5.4% CAGR – Contraceptive Drugs Industry Report by Vantage Market Research

WASHINGTON, June 23, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Contraceptive Drugs Market finds that the rise in concerns about family planning and an increasing need to avoid unintended pregnancy are some of the major factors propelling the growth of the Global Contraceptive Drugs Market. Contraception pills are majorly used to avoid unwanted pregnancy, control the birth rate, and minimize the risk of sexually transmitted diseases (STDs). Therefore, it expands rapidly in the coming years. In addition, upward use of contraception among young women and growing higher educational achievement bolster the Contraceptive Drugs Market growth.

The Global Market revenue stood at a value USD 12.1 Billion in the year 2021.

The Global Contraceptive Drugs Market size is forecasted to reach USD 16.5 Billion by the year 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period; states Vantage Market Research, in a report, titled “Contraceptive Drugs Market Size, Share & Trends Analysis Report by Product (Oral Contraceptive Pills, Injectable Contraceptives, Topical Contraceptives), by Age Group (15–24 years, 25–34 years, 35–44 years, Above 44 years), by End User (Homecare, Hospitals, Clinics), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

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Market Dynamics:

Drivers:

Rise in Awareness of Contraceptive Drugs Market Drives the Market

The upsweep in the use of contraception has decreased the risk of sexually radiated infections and enhanced health-related outcomes comprising maternal & infant mortality. Additionally, an upsweep in the number of gynaecologists preferring these contraception devices for the intention of birth control is going to prompt the industry's growth in forthcoming years. An increase in awareness of modern contraceptives, increasing use of safe & effective oral pills, and health complications correlated to teenage pregnancies stimulate the market expansion.

The contraceptive devices will provide the maximum growth of the Contraceptive Drugs Market. Contraceptive devices are estimated to capture more than half of the Global Contraceptive Drugs Market during the forecast period. With this ever-increasing risk, there is an increase in awareness about modern contraceptives. Governments across the world have steadily invested in family planning and sex education programs to escalate awareness about the dangers of STDs, which has also augmented the growth of the Contraceptive Drugs Market.

Restraint:

Fear of Side Effects Due to Lack of Awareness

The oral contraceptive pill is hormonal contraception therapy. Side effects of these pills are prevalent and may differ from one person to another. Long-term usage of birth control pills is linked to adverse effects, which include bleeding, headaches, nausea, and weight gain. Several research articles have been released to draw attention to the long-term negative effects of birth control pills. The lack of understanding while using these long-term contraceptive pills leads to apprehension about accepting them. In addition, in underdeveloped countries, the social stigma connected with the use of contraception methods, as well as the expensive cost of these methods and pills are blamed for the low uptake and acceptability of these methods.

Key Insights & Findings from the Report:

• According to our primary respondents’ research, the Contraceptive Drugs market is predicted to grow at a CAGR of roughly 5.4% during the forecast period.
• The Contraceptive Drugs market was estimated to be worth roughly USD 12.1 Billion in 2021 and is expected to reach USD 16.5 Billion by 2028; based on primary research.   
• On the basis of region, Asia Pacific is projected to dominate the worldwide Contraceptive Drugs market.
  

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Segmentation of the Global Contraceptive Drugs Market:

• Product
  • Oral Contraceptive Pills
  • Injectable Contraceptives
  • Topical Contraceptives
• Age Group
  • 15–24 Years
  • 25–34 Years
  • 35–44 Years
  • Above 44 Years
• End User
  • Homecare
  • Hospitals
  • Clinics
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/contraceptive-drugs-market-1674

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the healthcare industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

The Report on Contraceptive Drugs Market Highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates, and Forecast
• Company Profiles
• Global and Regional Dynamics
  

Regional Analysis:

North America Dominated the Global Contraceptive Drugs Market

North America dominated the Contraceptive Drugs Market in 2021. The development in the Contraceptive Drugs Market is due to the existence of great population support, proactive advantages of governmental organizations for birth control, and awareness in underdeveloped countries. In addition, the accessibility of cost-effective Contraceptive Drugs Market in the region ensures possibilities for contraceptive drug producers. This is ascribed to increasing demand for contraceptive pills among the public as well as increased awareness of various contraceptive drug options. Birth control tablets are disposed of over the counter in numerous nations. As a result, clients are increasingly seeking birth control tablets in retail pharmacies.

Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on "Contraceptive Drugs Market Size, Share & Trends Analysis Report by Product (Oral Contraceptive Pills, Injectable Contraceptives, Topical Contraceptives), by Age Group (15–24 years, 25–34 years, 35–44 years, Above 44 years), by End User (Homecare, Hospitals, Clinics), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".

List of Prominent Players in the Contraceptive Drugs Market:

• Agile Therapeutics
• Allergan PLC
• Bayer AG
• GlaxoSmithKline PLC
• Johnson & Johnson
• Piramal Healthcare
• Mylan N.V.
• Pfizer Inc.
• Novartis AG
• Teva Pharmaceutical Industries Ltd.

Recent Developments:

February 2022: Organon acquired rights from Bayer AG to Marvelon and Mercilon, combined oral hormonal daily contraceptive pills, in the People’s Republic of China, including Hong Kong and Macau, and has entered into an agreement to acquire the rights to these products in Vietnam.

April 2021: Mayne Pharma reported that the United States Food and Drug Administration (FDA) had approved NEXTSTELLIS (3 mg drospirenone [DRSP] and 14.2 mg estetrol [E4] tablets) for the prevention of pregnancy. NEXTSTELLIS is the first and only contraceptive pill containing E4, a naturally occurring estrogen, now produced from a plant source, with a unique mechanism of action that offers potential advantages over other estrogens.

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Contraceptive Drugs Market?
• How will the Contraceptive Drugs Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Contraceptive Drugs Market?
• What is the Contraceptive Drugs market drivers and restrictions?    
• What will be the CAGR and size of the Contraceptive Drugs Market throughout the forecast period?     

This market titled “Contraceptive Drugs Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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