PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1587098
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1587098
Global contraceptive drugs market is projected to witness a CAGR of 7.77% during the forecast period 2024-2031, growing from USD 19.19 billion in 2023 to USD 34.92 billion in 2031. The market demand for contraceptive pharmaceutical products is anticipated to thrive in the forecast period due to increased awareness of family planning, rising demand for women's health products, and various technological advancements contributing to the market's growth.
Contraceptive drug is a method to prevent unwanted pregnancies, increase birth control rate, and reduce the risk of sexually transmitted diseases (STDs). It mainly includes hormonal contraceptives such as oral contraceptives, injectors such as pills, and implants that release hormones over time. These drugs work by regulating hormones to suppress ovulation, change the uterus lining, or thicken cervical mucus, thereby reducing the chance of fertilization. In addition to their primary function of preventing pregnancy, birth control pills can also provide benefits such as regulating menstrual cycles, reducing menstrual pain, and reducing the risk of certain reproductive health problems. The growing demand for effective family planning options, coupled with advances in formulation and delivery methods, is driving innovation in the contraceptive drug market, making it a critical aspect of reproductive health care. For instance, in July 2023, the 'Maternal Health Initiative' report published by the Wilson Center estimated that approximately 240 babies are born every minute in lower income countries compared to 25 per minute in those with higher incomes. This report further suggested that decline in the total birth rate is driven by several factors, including increased access to contraception and reproductive health care, an increase in the number of women seeking higher education, the strengthening of women's influence in the labor force, and a decrease in the number of children worldwide.
Increasing Awareness about Reproductive Health to Fuel the Adoption of Contraceptive Drugs
Increased awareness of reproductive health has become a major driver of the contraceptive drugs market, creating a more informed society that prioritizes family planning and sexual health. Educational campaigns by health organizations, governments, and NGOs have been instrumental in spreading knowledge about reproductive rights and available contraceptive options. Social media platforms further amplify these efforts, facilitating open discussions and destigmatizing conversations surrounding contraception. As individuals become more educated about their reproductive choices, they are more likely to seek out and utilize contraceptive methods, leading to an increased demand for effective and accessible contraceptive drugs. This shift not only empowers individuals to make informed decisions about their bodies but also helps improve public health outcomes by reducing unintended pregnancies and sexually transmitted infections. For instance, in July 2023, the U.S. Food Drug and Administration (FDA) approved Opill, the first nonprescribed daily contraceptive tablet. the approval is expected to significantly improve access to contraceptives and promote better reproductive health outcomes. Opill contraceptive contains a single hormone - progestin, also known as progesterone (or nororgestrel) to prevent pregnancy. It inhibits ovulation, thickens cervical mucus to prevent sperm from reaching the egg, and alters the uterine lining to prevent implantation of fertilized egg.
Increasing Technological Advancement in Drug Development
Increasing Technological Advancement in Drug Development for delivering medicine, such as injectable contraceptives, patches, and extended-release pills, which are much more convenient and likely to be adhered to. Most importantly, advances in personalized medicine enabled the tailoring of specific birth control options to a person's preferences and health situation, taking into account needs such as side effect control and balancing hormones. They have also improved the safety and efficiency of these commodities through better production procedures and quality control systems. Additionally, reproductive health tracking and access to contraception can be integrated through digital health technology, such as telemedicine services and smartphone applications. The development of these technologies not only improved the user experience but also opened the market to a significantly larger audience for more reliable and innovative family planning solutions. For instance, in June 2023, Agile Therapeutics, Inc. (Agile), partnered with VitaCare Prescription Services, Inc. (VitaCare), a wholly owned subsidiary of GoodRx Holdings, Inc. VitaCare is a technology and services platform that helps patients navigate key access barriers for branded medications. Through this partnership, Agile is utilizing the VitaCare platform to expand patient access to the Twirla transdermal system.
Oral Contraceptive Pills Segment to Dominate the Contraceptive Drugs Market
The oral contraceptive pills (OCPs) segment will lead the way in contraceptive drugs due to a high degree of acceptance, along with their effectiveness and convenience. Available in various formulations, from combination pills to progestin-only options, the appeal is broad in meeting diverse individual needs and preferences. The direct link between increased adoption rates of OCPs and increased gains in awareness of reproductive rights and health education arises because OCPs prevent pregnancy while improving health conditions, regulating menstrual cycles, and reducing symptoms of conditions such as polycystic ovary syndrome. For instance, in November 2023, the European Parliamentary Forum for Sexual and Reproductive Rights (EPF), Family Planning 2030 (FP2030), and the International Planned Parenthood Federation (IPPF) East & Southeast Asia and Oceania Region collaborated to launch the Contraception Policy Atlas Asia and the Pacific. According to data from the United Nations Population Fund (UNFPA), 140 million women of reproductive age in Asia and the Pacific have an unmet need for modern methods of family planning. Thus, the launch of this policy is expected to raise awareness about contraceptives, further driving the demand for OCPs in the region.
North America Dominates Contraceptive Drugs Market
North America is generally leading the contraceptive drugs market because of advanced healthcare infrastructure, easy access to reproductive health services, and a strong family planning culture that has been partially encouraged by sound educational campaigns on the awareness of reproductive health and increased adoption of all types of contraceptives. In addition, the availability of big pharmaceutical companies and drug innovations with continuous research into how drugs are made open up other choices of contraceptive drugs to consumers. As regulatory support and favorable policies enhance further market growth, there are contraceptive drugs that are accessible to consumers that are also affordable. For instance, in April 2023, the MeFeego Pack abortion pills manufactured by Linepharma International Limited were approved in Japan. This medication combines mifepristone and misoprostol, which have been included in WHO's essential medicines list. Thus, the drug is expected to gain a positive response and more traction in the coming years.
Future Market Scenario (2024-2031F)
The contraceptive drug market is expected to register a promising growth, facilitated by ongoing innovations, developing consumer desires, and increasing global understanding of reproductive health. As technological advances continue to convert drug development, we can expect a more efficient and personalized contraceptive implementation, including new delivery systems and formulations that improve user convenience and compliance. In addition, emphasis on women's health and reproductive rights and support of government policy can promote more opportunities to achieve birth control, especially in new markets. As societal norms continue to shift toward greater acceptance of family planning, the demand for contraceptives is expected to increase, creating a more competitive and dynamic market landscape. Overall, combining these factors sets the contraceptive market up for sustained growth and innovation in the coming years. In July 2024, FDA approved Femlyv, the first oral dissolvable hormonal contraceptive pill for people who have difficulty in swallowing their drug. The dissolvable combined oral contraceptive of norethindrone acetate and ethinyl estradiol pill. There are many variables that might cause someone to have trouble swallowing. This drug provides another treatment option and expands access to this form of contraception for people who may have experienced these problems.
Key Players Landscape and Outlook
The contraceptive drugs market is highly dynamic; market activity reported in recent years includes business agreements and regulatory approvals of products of market players. The market has witnessed various business activities like strategic mergers, acquisitions, and collaborations in recent times. The market players are actively showing interest in innovative product developments of the market to enhance the growth rate.
For instance, in July 2024, Evofem Biosciences, Inc. (Evofem), a women's contraceptive health innovator acquired global pharma Lupin Limited. Evofem approval from the Food and Drug Administration (FDA) for the single-dose antimicrobial agent Solosec, which provides a complete course of therapy for two common sexual health infections, namely bacterial vaginosis and Trichomoniasis infection. Furthermore, in July 2024, Evofem has entered in a licensing with privately held Emirati healthcare company Pharma 1 Drug Store LLC, for the supply of Phexxi in the Middle East region.
In November 2023, Mithra Pharmaceuticals S.A., a company dedicated to women's health, announced that it had been granted an additional patent for NEXTSTELLIS (3 mg drospirenone and 14.2 mg estetrol (E4) tablets) in the United States. NEXTSTELLIS is the first and only oral contraceptive that combines E4 with drospirenone, which is one of the most widely established progestins. E4 is an endogenous and tissue-selective estrogen with well-defined effects on breast tissues and liver tissues, and it occurs naturally in the human fetus during pregnancy.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.