The World Health Organization (WHO) is joining forces with global, regional, and country-level partners to drive a significant leap in the accessibility and impact of contraceptive tools and products. With the Global Contraceptive Industry poised to achieve a 5.5% Compound Annual Growth Rate (CAGR), projections indicate a surge, reaching an estimated US$ 30.8 Billion by 2032.
The global contraceptives market size is expected to reach ~US$ 33,529 Mn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at a CAGR of ~6.2% between 2019 and 2029. According to the report, the growing need for population control, increasing incidence of unwanted pregnancies, and government initiatives drive the Global Contraceptive Industry forward. It uses unique research methods to offer the most accurate analysis of the market.
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It includes in-depth insights into the Global Contraceptive Industry. Some of these are:
- The estimated value of the contraceptives market was at ~US$ 33,529 Mn in 2019. Through the course of the report’s forecast period, the market has exhibited a steady pace of growth.
- Regionally, North America dominates the contraceptive market globally.
- East Asia emerges as one of the key markets owing to the large population base, growing contraceptive awareness, and initiatives taken by the respective country’s government.
- The female segment holds the most of the contraceptive market as compared to men.
- Key players are likely to focus on new product development in terms of drug & device, to stay relevant in developed markets.
Contraceptive Pills – the Most Lucrative Product Type
The Global Contraceptive Industry contains drugs and devices. The devices market holds most of the contraceptive market however drugs are anticipated to grow at the highest CAGR owing to their beneficial properties and easy consuming methods. With the advancement of technology, the emergence of drugs has become popular as oral contraceptive pills which have the same purpose as other contraceptive drugs or devices. The simplicity and easy consumable method are expected to make it the most popular Global Contraceptive Industry. The other forms of drugs such as topical and injectable contraceptives also witness strong market demand. Furthermore, these contraceptive pills are highly effective and do not interrupt sex. Even in some cases, it has been proven to reduce heavy and painful periods. All these factors and benefits are expected to fuel the sales of contraceptive drugs in the global market.
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Some of the leading players operating in the contraceptives market are Bayer AGPfizer Inc., Janssen Global Services, LLC, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Mylan N.V., Allergan Plc, Reckitt Benckiser Group plc, Veru Inc., Church & Dwight Co., Inc., Medisafe Distribution Inc., Cooper Surgical, Inc., Mayer Laboratories, Inc., Pfizer, The Female Health Company and others. As a result of increasing competition, companies are focusing on expanding their product portfolio with new innovations. In addition to this, mergers and acquisitions remain a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
- As a part of the government’s initiative, the government of India launched a new contraceptive pill named ‘Shukhi 3rd Generation’ in Nov 2019.
- In Spet. 2019, Exeltis USA, Inc. announced the Launch of Slynd™(drospirenone) tablets, the First and only progestin-only pill providing pregnancy prevention with a 24-hour missed pill window
Get Valuable Insights into Contraceptives Market
Future Market Insights, in its new report, presents an unbiased analysis of the global Contraceptives market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights on the contraceptives market based on product type (contraceptive drugs – oral contraceptive pills, injectable, topical), gender (male, female), price range (high range, low /economy), sales channel (Wholesaler/ Distributor, Hypermarket/ Supermarket, Specialty Stores, Drug & Pharma Stores, Convenience Stores, online, and others -hospitals, clinics, etc.), region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa).
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Market segmentation
Product Type
- Contraceptive Drugs
- Oral Contraceptive Pills
- Injectables
- Topical
- Contraceptive Devices
- Diagrams
- Sponges
- Vaginal Rings
- Subdermal Implants
- Intrauterine Device
- Condom
Gender
- Male
- Female
Price Range
- High Range
- Low / Economy Range
Sales Channel
- Wholesaler/ Distributor
- Hypermarket/ Supermarket
- Specialty Stores
- Drug & Pharma Stores
- Convenience Stores
- Online
- Others (hospitals, clinics, etc.)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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