As stated in our extensive report; providing insights on Key Drivers, Key Restraints, and Segments (i.e.,Product, Age Group, End-User, and Region); the Global Contraceptive Drugs Market accounted for USD 12.1 Billion in the year 2021.
“Key Factors Likely to Drive Growth of Contraceptive Drugs Market”
Partial needs for contraception in both eminent economies and developed manufacturing countries have steered urging for contraceptive methods in forthcoming years. Moreover, contraceptives serve in reducing sexually impaired diseases and unwanted pregnancies. Cost-affectivity of contraceptives and the rise in the capitalization of research activities related to producing a new kind of contraceptive with extra features are predicted to provide new growth opportunities for the Contraceptive Drugs Market in the established years. Meanwhile, contraceptive use among married women has increased across the globe.
The development of the Contraceptive Drugs Market over the forecast timeline is the thesis of the growing need for reducing the probability of sexually transmitted disorders and health-related problems. In addition to this, an expansion in the number of gynecologists preferring contraception devices for birth control will increase the growth of the Contraceptive Drugs Market. Evidently, an increase in awareness of new kinds of contraceptives along with a surge in the utilization of oral pills will result in a massive demand for contraceptive equipment in the coming days.
Additionally, technological breakthroughs & acceptance of new contraception tools will play an essential part in the growth of the Contraceptive Drugs industry. However, unpredictable effects of contraceptive medicines can pose a provocation to the growth of the Contraceptive Drugs Market. Moreover, injectable contraceptive administration has emanated into abdominal bleeding, depression, and alopecia. Apart from this, an increase in cases of infertility due to the intake of contraceptive pills can also inhibit the growth of the Contraceptive Drugs Market.
North America holds the largest market share for the Contraceptive Drugs Market, owing to the growing awareness about birth control pills in countries such as the U.S. In addition, the cost-efficiency of contraception in countries such as the U.S will drive the growth of the regional market. The rise in the launching of awareness schemes associated with the use of contraceptives & high focus on family planning programs by the U.S government will proliferate the size of the Contraceptive Drugs Market in this region.
Some of the key players in the Global Contraceptive DrugsMarketinclude-Agile Therapeutics, Allergan PLC, Bayer AG, GlaxoSmithKline PLC, Johnson & Johnson, Piramal Healthcare, Mylan N.V., Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., and others.