"Designing Growth Strategies is in our DNA"
The global contraceptive drugs market size was USD 13.01 billion in 2020. The global impact of COVID-19 was unprecedented and staggering, with the market witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a substandard growth of -9.8% in 2020 compared to the average year-on-year growth during 2017-2019. The market is expected to grow from USD 12.55 billion in 2021 to USD 18.37 billion in 2028 at a CAGR of 5.6% in the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over
An ever-increasing concern regarding the rapidly increasing population globally is leading to an increasing focus on educating the general population towards available methods of contraception. Different methods of contraception are available and followed by various communities around the world. Among all the available methods, oral pills are widely used as hormonal combinations, including estrogen and progestin or progestin alone.
The increasing focus of leading market players and healthcare agencies towards creating awareness through public programs to expand access to contraception methods is the primary factor augmenting the growth of the global market.
This has been pivotal in increasing awareness among the general population, especially in emerging countries, towards the adoption of contraception and available products and methods. This is further boosted by introducing over-the-counter drugs and other products by domestic and global players, facilitating the use of these drugs globally.
Outbreak of COVID-19 Hampered the Growth of the Market
The emergence of COVID-19 has hindered the demand for contraceptives across the world. Key players operating in the market recorded a significant decline in their revenues from the sales of these drugs due to the COVID-19 pandemic.
The significant decline in revenues generated from the sales of contraception medicines was attributed to several factors, including supply chain disruption. There is a considerable impact on family planning programs provided by primary health centers, especially in emerging countries, due to the shift of healthcare resources for the management of COVID-19 patients.
Therefore, the disruption in manufacturing activities and supply chain and the negative impact on family planning programs are responsible for the negative growth rate of the market in the financial year 2020.
Request a Free sample to learn more about this report.
Shift from Conventional to Modern Contraceptive Methods to Support the Market Growth
Technological advancements and the rising adoption of modern methods of contraception are playing a crucial role in the growth of the market. Moreover, the government in developing countries and NGOs promotes the use of modern products for contraception, such as oral pills, injectable and topical drugs.
Consumers in developing countries are shifting from traditional to modern methods. Conventional drugs and procedures offer limited protection against sexually transmitted diseases and have a higher failure rate than modern methods. Thus, this leads to the increasing adoption of modern techniques such as sterilization, pills, and other products among the general population.
This indicates the growing preference of consumers towards modern methods, including drugs, which is anticipated to drive the demand and adoption of these drugs during the forecast period.
Growing Focus on Contraceptive Drugs’ Awareness to Propel Product Demand
There is a rising focus of non-profit organizations, and regional and national healthcare agencies, towards improving women’s health and sexual wellness. Through various campaigns and public awareness programs, these organizations promote the use of contraception techniques and create awareness among the general population towards various contraception methods, including growing preference towards these drugs.
This, along with an increasing number of products being introduced in the market by leading global and domestic players, is supporting the market growth.
Moreover, the government agencies in developing countries promote the usage and adoption of these drugs to control the population and unwanted pregnancies in the adult population.
This, along with the increasing childbearing population and rising adoption of these products in developing countries, creates a significant demand for these products such as oral pills, injectables, and patches across the world. Moreover, the rising insurance coverage and introduction of over-the-counter medicines are also anticipated to support the growth of the market in the near future.
Side Effects Associated with Drugs to Restrict Market Growth
The long-term use of birth control medications is associated with side effects such as bleeding, headaches, nausea, weight gain. Several research studies have been published to highlight the long-term side effects related to birth control drugs.
Moreover, the lack of awareness and social taboo about contraception methods and other methods is accountable for the lower adoption of these products in developing countries. This, along with the high cost of these products, is responsible for restraining the market growth.
To know how our report can help streamline your business, Speak to Analyst
Growing Adoption of Oral Drugs has enabled the Dominance of the Segment
Based on product, the global market is segmented into oral, injectable, and patches. The oral segment is further categorized into combined contraceptives and progestin-only pills. The oral segment accounted for the highest share in the market, driven by higher adoption of oral drugs in developed and developing countries across the globe.
There is a gradual increase in demand and adoption of oral drugs, especially in emerging countries. This is due to the clinical benefits of oral medicines over other traditional methods and the comparatively lower cost of these products over other modern methods of contraception.
Higher preference towards oral drugs, especially in countries such as China, and India, is primarily responsible for the dominant share of the segment in 2020. This, along with the introduction of over-the-counter oral drugs in developing countries, is projected to boost market growth during the forecast period.
On the other hand, the injectable segment held the second largest contraceptive drugs market share during the forecast period. The comparatively lower annual cost of injectable products compared to drugs and pills leads to higher demand for injectable products.
Increasing Preference of Customers towards Over-the-Counter Drugs has enabled the Dominance of Retail Segment
The global market is categorized into hospital pharmacy, retail pharmacy, clinics, online channel, public channel & NGOs, and others based on distribution channels.
The retail pharmacy segment dominated the global market in 2020. The dominance of the retail pharmacy segment is attributed to the growing demand for contraception drugs among the general population with the increasing awareness about various contraception methods. Several countries, including Brazil, Mexico, China, and India, allow birth control pills to be sold over the counter. This has led to a higher preference of consumers towards retail pharmacies for procuring birth control pills. Moreover, favorable regulatory policies are also responsible for the growth of the retail distribution channel.
On the other hand, the online distribution channel segment is expected to record a higher CAGR than the other subsegments. The higher growth of online channels is attributed to the rising adoption of over-the-counter solutions combined with various online offers and discounts to attract customers.
North America Contraceptive Drugs Market Size, 2020 (USD billion)
To get more information on the regional analysis of this market, Request a Free sample
The contraceptive drugs market size in North America registered USD 6.56 billion in 2020. The high awareness about birth control pills in the North American population combined with the growing childbearing women population and fertility rate in the region are some of the major factors responsible for the dominance of North America in 2020.
Europe held the second-largest market share in the global market. This is attributed to the growing childbearing population in European countries and strong reimbursement policies regarding contraceptives. Moreover, the increasing adoption of contraceptive pills and injectable in the majority of the European countries is also supporting market growth.
On the other hand, Asia Pacific is expected to register the highest CAGR during the forecast period. The increasing government initiatives to expand access to contraceptives and surge in awareness about pills drive the increasing demand for these drugs. Moreover, the growing emphasis on family planning with the rise in cases of unintended pregnancy is influencing the market for birth control pills, including contraceptive drugs.
Latin America and the Middle East & Africa regions accounted for a comparatively lower share in the global market. However, the increasing focus on strengthening reproductive health and family planning services and rising awareness about various methods of contraception in these regions are anticipated to drive the market growth during the forecast period.
Robust Distribution Network, Robust Portfolio, and New Product Launches Help Key Players Lead the Global Market
The global market is fragmented, with the presence of few international players along with a large number of domestic generic drug manufacturers. The major players operating in the market focus on research and development and strategic collaborations to gain a competitive advantage over other players.
The market fragmented with the introduction of generics, and prominent market share is captured by companies offering generic products. Other companies such as Piramal Enterprises Ltd., Viatris Inc., Teva Pharmaceutical Industries Ltd., Amneal Pharmaceuticals, Inc., and other generic leaders capture the market share. These generic manufacturers are focusing on regulatory approvals for new generic drugs to diversify the product line.
An Infographic Representation of Contraceptive Drugs Market
To get information on various segments, share your queries with us
The contraceptive drugs market research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, products, and distribution channels. Besides this, it offers insights into the key market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market's growth over recent years.
ATTRIBUTE | DETAILS |
Study Period | 2017-2028 |
Base Year | 2020 |
Estimated Year | 2021 |
Forecast Period | 2021-2028 |
Historical Period | 2017-2019 |
Unit | Value (USD billion) |
Segmentation | Product, Distribution Channel, and Region |
By Product |
|
By Distribution Channel
|
|
By Geography |
|
Fortune Business Insights says that the global market size stood at USD 13.01 billion in 2020 and is projected to reach USD 18.37 billion by 2028.
In 2020, the market size in North America was USD 6.56 billion.
The market will exhibit steady growth at a CAGR of 5.6% during the forecast period (2021-2028).
By product, the oral segment will lead the market.
Increasing focus on creating awareness through public programs, growing insurance coverage, the introduction of OTC contraceptive products, and rising emphasis on avoiding unplanned pregnancies creating are the key drivers of the market.
Janssen Global Services, LLC, AbbVie Inc., and Pfizer Inc. are the top players in the market.