Global Contraceptive Drugs Market – Overview
The global contraceptive drugs market research is showing moderate growth; mainly due to increase to avoid unwanted pregnancies and their complications. Contraceptive drugs market size is expected to reach USD 19.4 billion in 2030 at 6.60% CAGR during the forecast period 2023-2030. Moreover, increasing incidence of STIs and the rapid increase in population. Most of the countries around the world are facing the issues of unintended pregnancy by adolescents, especially in developing regions. According to a report published by the World Health Organization (WHO) in 2018, around 21 million girls aged 15 to 19 years and 2 million girls aged under 15 years become pregnant every year in developing regions. Moreover, around 16 million girls aged 15 to 19 years and 2.5 million girls aged 16 years give birth each year in developing regions.
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. The development has been made by Pfizer in September 2015, when they announced that Sayana Press (medroxyprogesterone acetate), is now available to women in the United Kingdom (UK) for administration by self-injection, after getting the approval from UK Medicines and Healthcare Products Regulatory Agency (MHRA).
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 the best drugs in the market. All these developments help the market to get quality drugs and fulfill unmet requirements.
Global Contraceptive Drugs Market Multiply Relentlessly
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 globally.
Contraceptives drugs refer to the medicines that are used to prevent unwanted pregnancy. Contraceptives drugs consists one or more synthetic female sex hormones, if they contain both estrogen and progestin are known as combined oral contraceptives (COC) and if they contain only progestin are known as progestin-only contraceptives (POP). Both of them have different pattern to prevent pregnancy, combined oral contraceptives (COC) which includes both estrogen and progestin, restrain the normal process of releasing egg from an ovary (ovulation) and by altering the lining of the uterus in result it is unable to support a fertilized egg. Whereas in progestin-only contraceptives (POP) mainly just change the viscosity of mucus and thin the endometrium. The factors which drive the market of contraceptives drugs are increasing need of population controls and increasing prevalence of sexually transmitted diseases. According to report published by World Health Organization (WHO) in 2016, more than 1 million sexually transmitted infections (STIs) are acquired every day worldwide. Additionally, report suggest that more than 500 million people are estimated to have genital infection with herpes simplex virus (HSV).
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. According to the report published by the Centers for Disease Control and Prevention in 2015, around 229,715 babies were born from women aged between 15 to 19 years.
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 region 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 options from 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.
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