Contraceptives Drugs Market: Snapshot
Childbearing at an early age has become an issue of concern and to prevent the deaths caused due to this aspect, contraceptives are essential. Therefore, the growing demand for contraceptives drugs to experience fewer complications may bring great growth opportunities for the contraceptives drugs market through the forecast period of 2024-2030.
The growing population across the world due to unwanted pregnancies is soaring day-by-day. The need to tackle the rising number of unplanned pregnancies may serve as a prominent growth generator for the contraceptives drugs market between 2024 and 2030.
On the basis of type, the global contraceptives drugs market can be classified into topical contraceptives, contraceptive injectables, progestogen-only pills, oral contraceptives, combined oral contraceptive pills, and others. Based on the distribution channel, the contraceptives drugs market can be segmented into online pharmacy, retail pharmacy, hospitals and clinics, and others.
This report will offer ideal insights into the global contraceptives drugs market. The report covers diverse growth parameters such as competitive scenario, geographical perspective, and the emerging trends across the contraceptives drugs market. The report also provides a bird’s eye view on the COVID-19 impact and its effect on the contraceptives drugs market.
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Contraceptives Drugs Market: Industry Insights
The contraceptives drugs market can be categorized as highly fragmented due to the presence of numerous players vying to be among the top competitors. A considerable chunk of major players dominate the contraceptives drugs market and bring immense growth share. Research and development activities are also carried out on a large scale across various parameters to discover new insights. Furthermore, quick approvals from the regulatory authorities like the Food and Drug Administration (FDA) may benefit the growth rate of the contraceptives drugs market greatly.
In addition, mergers, acquisitions, partnerships, joint ventures, and collaborations help in strengthening the foothold of the players in the contraceptives drugs market, eventually aiding in increasing the growth rate of the contraceptives drugs market.,
Some well-established participants in the contraceptives drugs market are Teva Pharmaceutical Industries Ltd., Piramal Enterprises Ltd., Bayer AG, GlaxoSmithKline PLC, Johnson & Johnson, Bayer AG, Sanofi, and Pfizer Inc.
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Contraceptives Drugs Market: Oral Contraceptives Inviting Extensive Growth
The emergence of oral pills as an easy way of contraception may serve as a great growth generator for the oral contraceptives segment. These pills are consumed by a considerable populace due to its ease of use. In addition, acts like the Affordable Care Act (ACA) enable the free distribution of oral pills to women who are covered under the act. Such acts trigger tremendous growth opportunities for the contraceptives drugs market.
Novel oral pill launches are also inviting great growth prospects for the contraceptives drugs market. For instance, Mayne Pharma completed licensing for its novel oral contraceptive pill known as NEXTSTELLIS and expects to launch the product soon after necessary FDA approvals.
Contraceptives Drugs Market: Novel Discoveries
New insights through research and development activities may bring expansive growth opportunities for the contraceptives drugs market. For instance, scientists recently developed the gelatin capsule, a contraceptive pill that has to be consumed only once a month. It will help in preventing unplanned pregnancies.
In another development, the FDA recently approved a contraceptive known as Phexxi. It is a non-hormonal vaginal gel that can be used for preventing pregnancy. The gel is a blend of lactic acid, potassium bitartrate, and citric acid. It keeps the vaginal pH levels in a range that’s inhospitable to sperm.
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Contraceptives Drugs Market: From Geographical Perspective
Densely populated countries like India and China may procure extensive demand for contraceptives drugs, eventually making Asia Pacific as one of the most important growth contributors across the forecast period. Initiatives related to awareness about family planning and avoiding unwanted pregnancies are being taken by the governments of various countries in Asia Pacific. This aspect may serve as a vital growth multiplier.
For instance, The Indian Government launched two new contraceptives named ‘Antara’, an injectable, and ‘Chayya’ a pill for free distribution among its citizens. The pills are available at medical colleges and hospitals across various states in India.
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