The Global Contraceptives Industry is undergoing a remarkable surge, as disclosed in the latest study conducted by Future Market Insights (FMI). The market is poised to achieve a substantial valuation of US$ 18 billion in 2022, with an anticipated robust Compound Annual Growth Rate (CAGR) of 5.5 percent paving the way for a spectacular expansion. By 2032, the industry is forecasted to escalate to an impressive US$ 30.8 billion, highlighting an escalating global demand for contraceptive drugs and devices.
Devices Take the Lead: FMI’s study emphasizes that contraceptive devices are leading the market in terms of product preference, accounting for approximately 58.3 percent of the market in 2021. This trend is expected to continue, signifying the growing adoption of contraceptive devices as a favored choice among consumers.
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It includes in-depth insights into the contraceptive market. 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 is exhibited to show a steady pace of growth.
- Regionally, North America dominates the contraceptives market globally.
- East Asia emerges as one of key markets owing to large population base, growing contraceptive awareness and initiatives taken by the respective country government.
- 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
Contraceptive market contains drugs and devices. The devices market holds most the contraceptive market however drugs are anticipated to grow at highest CAGR owing to its beneficial property and easy consuming method. With the advancement of technology, the emergence of drugs have become popular as oral contraceptive pills which has the same purpose as other contraceptive drugs or devices. The simplicity and easy consumable method are expected to make it most popular contraceptive market. The other form of drugs such as topical and injectable contraceptives also witness strong market demand. Furthermore, these contraceptive pills are highly effective and does not interrupt in sex. Even in cases, it has been proved 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 Global Contraceptives Industry 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 innovation. In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
- As a part of government’s initiative, the government of India had launched a new contraceptive pill named ‘Shukhi 3rd Generation’ in Nov 2019.
- In Spet. 2019, Exeltis USA, Inc. had 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 Global Contraceptives Industry
Future Market Insights, in its new report, presents an unbiased analysis of the Global Contraceptives Industry , covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights on the Global Contraceptives Industry based on product type (contraceptive drugs – oral contraceptive pills, injectable, topical), gender (male, female), by 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
- Diaphgrams
- 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 areas such as 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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