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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.
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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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