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Global Contraceptive Drugs Market to Grow at a CAGR of 6.96% During 2022-2027, Aided by the Increasing Accessibility to Contraceptive Drugs

According to a new report by EMR titled, ‘Global Contraceptive Drugs Market Report and Forecast 2022-2027’, the global market for contraceptive drugs attained a value of about USD 16.37 billion in 2021. The industry is further expected to grow at a CAGR of 6.96% in the forecast period of 2022-2027 to reach a value of approximately USD 24.50 billion by 2027.

North America holds a significant share of the contraceptive drugs industry owing to the extensive availability of contraceptive drugs in the region. The high awareness of contraceptive drugs in 15-24 years age group in the region is driving the growth of the market. As women are delaying childbirth in countries like the United States and Canada owing to the increasing labour force participation and education attainment, the demand for contraceptive drugs to prevent unwanted pregnancies is surging. Moreover, the increasing approval of innovative contraceptive drugs by health organisations is expected to significantly contribute to the industry growth. For instance, in April 2021, the Food and Drug Administration (FDA) of the United States approved Mayne Pharma’s NEXTSTELLIS, a contraceptive pill containing estetrol (E4).

Bayer AG (OTCMKTS: BAYRY), one of the leading companies in the market, announced an investment of €400 million in October 2021 to increase the access of modern contraception to women and girls. The investment is expected to expand production capabilities in Finland and Turku while constructing a new production site in Alajuela, Costa Rica. The company is anticipated to partner with international organisations like the United States Agency for International Development and the United Nations Population Fund to increase the accessibility to modern contraceptives in low-and-middle-income countries. The company is expected to build a state-of-the-art production facility in Alajuela, Costa Rica, to supply long-acting reversible contraceptives to low-and-middle-income countries by 2024. Moreover, the increasing production of contraceptive drugs is predicted to strengthen the company’s commercial supply chain and enhance its product portfolio. Such initiatives and investments are estimated to drive the market growth in the forecast period.

Market Analysis by Product, Age Group, End-User, and Region:

  • The market, on the basis of product, can be divided into topical contraceptives, oral contraceptive pills, and injectable contraceptives.
  • Based on age group, the industry can be divided into 15-24 years, 25-34 years, 35-44 years, and above 44 years.
  • The end-users of contraceptive drugs include homecare, hospitals, and clinics.
  • The regional markets for contraceptive drugs include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The introduction of various favourable initiatives by governments to boost the availability of free and subsidised contraceptive drugs to boost the quality of life of its citizens is propelling the market growth.
  • The market is being aided by the redistribution of contraceptive drugs to boost their availability without doctors’ prescriptions.
  • The increasing development of innovative contraceptive drugs with new modes of administration and enhanced health benefits is driving the market growth.
  • The initiation of various research activities to develop oestrogen-free contraceptive drugs while minimising side-effects associated with conventional drugs is expected to bolster the growth of the industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for contraceptive drugs for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the products, age groups, end-users, and major regions of contraceptive drugs.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global contraceptive drugs market are Allergan plc, Johnson & Johnson, Bayer AG, Piramal Healthcare, Pfizer Inc., Teva Pharmaceutical Industries Ltd., and Novartis AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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