According to FutureWise analysis the market for Contraceptive Drugs in 2023 is US$ 18.83 billion, and is expected to reach US$ 32.64 billion by 2031 at a CAGR of 7.10%.
Contraception is a way of preventing unplanned pregnancies, reducing the risk of sexually transmitted diseases, and controlling the birth rate (STDs). Oral pills, injectable contraceptives, and topical contraceptives are all examples of contraception medications. These medicines are used by women of childbearing age between the ages of 15 and 44, following puberty and before menopause. Contraceptive medicines are used by a group of people to avoid pregnancy and sexually transmitted infections (STIs), as well as for birth control and family planning. Some of the primary factors driving the growth of the global contraceptive medicines market include an increase in concerns about family planning and the need to prevent unwanted pregnancy. Furthermore, an increase in the usage of contraception among young women, as well as a rise in educational attainment, help to drive market expansion. In addition, health issues associated with teenage pregnancies, increased awareness of modern contraception methods, and increased use of oral tablets as a critical approach to avoid unplanned pregnancy are likely to drive market expansion in the next years. Contraceptive drug market growth is hampered by health hazards connected with the use of contraceptives, the availability of alternative contraceptive techniques, and a lack of societal acceptance. Contraceptive medicines are classified as oral (pills), injectable, or topical contraceptives, depending on the product.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Contraceptive Drugs Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Contraceptive Drugs Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.