GSK - Global Contraceptive Drugs Market Size is Projected to Reach USD 28.96 billion by 2030 Growing at a CAGR of 7.3%: Straits Research | Benzinga
New York, United States, March 12, 2024 (GLOBE NEWSWIRE) -- Contraception encompasses the use of drugs to prevent pregnancy, the transmission of sexually transmitted diseases (STDs), the transmission of sexually transmitted infections (STIs), family planning, and birth control. The use of contraceptive drugs and emergency contraceptives, especially among adolescents, and an increase in awareness of sexually transmitted infections (STIs) are the primary factors driving the expansion of the global contraceptive drug market. The growing acceptance of oral contraceptives as an effective method of birth control and their popularity have contributed to the rise in contraceptive demand, especially in developed regions. In addition, a rise in awareness of modern contraceptive drugs in developing nations has contributed significantly to expanding the global market. However, significant market restraints include associated risks, sociocultural influences of contraceptives, and side effects such as infertility resulting from contraception. Contraceptives are drugs used to prevent unintended pregnancies and sexually transmitted diseases (STDs).
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Preventing Unwanted Pregnancies and Growing Government and non-governmental organization (NGO) initiatives Drives the Global Market
According to Straits Research, "The global contraceptive drugs market size was valued at USD 14.32 billion in 2021. It is expected to reach USD 28.96 billion by 2030, growing at a CAGR of 7.3% during the forecast period (2022–2030)." Globally, the poor and low-income population is disproportionately represented in the overall rate of unintended pregnancies. Using traditional methods to prevent pregnancy is one of the leading contributors to this prevalence. In addition, several health issues, such as anemia, malaria, HIV, and other sexually transmitted infections, are significantly linked to the adverse outcomes of adolescent pregnancy.
Consequently, contraceptive drugs contribute significantly to reducing the incidence of unintended pregnancies. In addition to government organizations, several non-profit organizations run campaigns and programs to increase education and awareness regarding the use of contraceptives. In addition, the market's growth is anticipated to be fueled by an increase in unintended pregnancies and the measures taken by individuals in many nations to prevent these unwanted pregnancies.
Government agencies have implemented strict birth control measures due to population growth and STDs. Government and non-government organizations have launched family planning and birth control programs. They also provide information ...