Global Contraceptive Drugs Market – Overview
Drugs used to prevent unintended pregnancy are referred to as contraceptives. One or more artificial female sex hormones make up contraceptive medications. If they contain both estrogen and progestin, they are referred to as combination oral contraceptives (COC), and if they only contain progestin, they are referred to as progestin-only contraceptives. Each of them use distinct methods to prevent pregnancy. Combination oral contraceptives (COC), which contain both estrogen and progestin, block the ovulation process by changing the uterine lining, which renders the uterus incapable of supporting a fertilized egg. Unlike progestin-only contraceptives (POP), which mostly merely alter mucus viscosity and thin the endometrium.
Contraceptive Drugs Market is expected to register 6.60% CAGR during the forecast period, 2022 to 2030, with a market value of USD 19.4 billion in 2030.
Global Contraceptive Drugs Market – Key Industry Driver
The rising frequency of sexually transmitted diseases and the growing need for population control are the two main drivers driving the market for contraceptive medications.
The increase in efforts to prevent unintended pregnancies and related complications is primarily responsible for the modest expansion in the global market for contraceptive medications. In addition, both STI incidence and population growth are accelerating. Unwanted teen pregnancies are a problem in the majority of developed and developing countries alike, particularly in underdeveloped regions.
Global Contraceptive Drugs Market – Latest Trends
Companies are showing much interest toward the contraceptive drugs market, as they feel there are huge opportunities and gaps between the market demand and supply of effective drugs. Thus, companies are investing more into research and development activities to introduce better drugs in the market.
Many companies such as, Merck & Co., Inc, Pfizer Inc, Teva Pharmaceutical Industries Ltd., Bayer AG, Allergan plc, Janssen Global Services llc., Mankind Pharma Ltd. , Piramal Enterprises Ltd, and Reckitt Benckiser Plc are working to introduce best drugs in the market. All these development help market to get quality drugs and fulfil unmet requirement.
Global Contraceptive drugs Market -Regional Analysis
The market of contraceptive drugs is much higher in the Americas region owing to increasing awareness among the people and high incidence rates of abortion.
Europe is also considering the huge market for contraceptive drugs players, owing to the increasing government support and awareness about healthcare industries, and well-developed technology. Moreover, companies from these regions are more into export to the developing region which increase the market share around the globe.
Asia Pacific and the Middle East and Africa region are considering the big market. Whereas country like India and China of Asia Pacific region are considering fastest growing region due to the high rate of incidence of teen pregnancy. According to WHO, adolescent birth rates is 45 births per 1000 women in South-Eastern Asia and 7 births per 1000 women in Eastern Asia. Additionally, they are open to adopt new treatment option from a developed country, this gap between the developed and developing countries will present significant growth opportunities for the contraceptive drugs market players in the coming years.
Merck & Co., Inc (U.S.), Pfizer Inc (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Bayer AG (Germany), Allergan plc. (Ireland), Janssen Global Services llc. (U.S.), Mankind Pharma Ltd. (India), Piramal Enterprises Ltd (India), Reckitt Benckiser Plc (U.K), Church & Dwight (U.S.), The Female Health Company (U.S.), Mayer Laboratories (U.S.), Cooper Surgical (U.S.) are some of the leading Contraceptive drugs Market players at the cutting edge of the competition in the market of Contraceptive drugs, globally.
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