Contraceptives Market to Exhibit 5.5% CAGR and Reach USD 30.15 Billion by 2027; Increasing Rates of Unwanted Pregnancies in North America to Favor Growth: Fortune Business Insights™
September 21, 2020 at 07:00 AM EDT
Pune, Sept. 21, 2020 (GLOBE NEWSWIRE) -- The global contraceptives market is set to gain traction from the increasing adoption of low-dose combined oral contraceptives (COCs). They include progestogen blended with 20-35 micrograms of ethinylestradiol. This information is given by Fortune Business Insights™ in a new report, titled, “Contraceptives Market Size, Share & COVID-19 Impact Analysis, By Product (Contraceptive Drugs and Contraceptive Devices), By Gender (Male & Female) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Channel, Clinics, Public Channel & NGOs, and Others), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 22.49 billion in 2019 and is projected to reach USD 30.15 billion by 2027, exhibiting a CAGR of 5.5% during the forecast period.
This Report Answers the Following Questions:
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Drivers & Restraints-
Increasing Government Initiatives to Skyrocket Demand for Contraceptives
As the population is surging worldwide, the governments are taking persistent initiatives to conduct awareness campaigns for lowering the risks of unwanted pregnancies, sexual disorders, and abortion. The Government of India, for instance, committed to deliver family planning services by the end of 2020 to 48 million new users at the London Summit on Family Planning. Similarly, the U.S. government developed an infant and a maternal health initiative to promote the usage of contraceptives effectively. However, contraceptives may cause multiple side-effects, such as migraine, headaches, and nausea. This factor may hinder contraceptives market growth.
COVID-19 Impacting Market Negatively Owing to Declining Production & Supply
The U.N. Population Fund (UNFPA) mentioned that in the coming months, 7 million unintended pregnancies are set to occur. Also, approximately 47 million women belonging to low- and medium-income countries would be unable to use unique contraceptives owing to the emergence of the COVID-19 pandemic. Besides, a major decline in the supply and manufacturing of these products worldwide would affect growth negatively. We are delivering in-depth research reports to help you better understand the current scenario of the market.
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Contraceptive Drugs Segment to Dominate Fueled by Their High Efficiency
Based on product, the drugs ices segment is set to grow with highest CAGR in the near future on account of their high demand, as well as their increasing efficiency in monitoring women’s health.
Rising Cases of Teenage Pregnancies to Boost Growth in Europe
In 2019, North America generated USD 9.71 billion in terms of revenue and would lead in the forthcoming years. This growth is attributable to the increasing cases of unwanted pregnancies in the region. Europe is set to exhibit a considerable growth owing to the rising prevalence of teen pregnancies. Asia Pacific, on the other hand, is likely to exhibit a significant CAGR backed by the increasing entrance of new companies in the region.
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Key Companies Aim to Gain Fast Track Approvals for Intensifying Competition
The market is fragmented owing to the availability of a large number of contraceptives. Most of the companies are frequently conducting elaborate studies to come up with state-of-the-art products to meet the growing demand. Some of the others are trying to bag FDA approvals for their newly discovered products. Below are two recent industry developments:
Fortune Business Insights™ lists out the names of all the renowned producers present in the market. They are as follows:
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Table of Contents:
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Have a Look at Related Reports:
Contraceptive Pills Market Share & Industry Analysis, By Type (Combination Pills and Progestin-only Pills), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channel, Public Channel & NGO, and Others) and Regional Forecast, 2019-2026
Hormonal Contraceptives Market Share & Industry Analysis, By Product (Pills, Injectable, Vaginal Rings, Intrauterine Devices, Implants, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Channel, Public Channel & NGOs, and Others) and Regional Forecast, 2019-2026
Contraceptive Drugs Market Share and Global Trend By Product Type (Oral, Injectable, Patches), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channel, Public Channel & NGOs) and Geography Forecast till 2025
Contraceptive Devices Market Share and Global Trend By Product Type (Male & Female Contraceptive Devices, Technology (Hormonal & Barrier Contraceptives), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channels, Public Channel & NGO & Others) and Geography Forecast till 2025
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