The Worldwide Contraceptives Industry is Expected to Reach $39 Billion by 2027
DUBLIN, Jan. 31, 2023
DUBLIN, Jan. 31, 2023 /PRNewswire/ -- The "Contraceptives Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The contraceptive market is evaluated at US$23.515 billion for the year 2020, growing at a CAGR of 7.52%, reaching a market size of US$39.052 billion by the year 2027.
Contraception refers to a method of avoiding pregnancy with the use of drugs or devices. It is also referred to as birth control or fertility control. The market for contraceptives is anticipated to witness healthy growth over the next five years.
The market growth may be attributed to numerous factors, out of which growing consumer consciousness regarding STDs, population control, and unintended pregnancies are some of the prime factors that have escalated the demand for contraceptive drugs and devices, particularly in the emerging economies of the globe.
Moreover, the growing government focus in many countries on population control has further created business growth opportunities for market players over the next five years. The government around the globe is playing a significant role in shaping the market growth as various campaigns and programs are being carried out to make people aware of contraception and birth control. For instance, the National Programme for Family Planning, under the Ministry of Health and Family, of the Government of India, aims to reduce the overall fertility rate of the country to 2.1 by the year 2025.
The key strategies of the program also include providing more choices through newly introduced contraceptives such as injectable contraceptives, MPA (Medroxyprogesterone acetate) under the Antara program, and Chaya oral contraceptive pills are to be made freely available to all the government hospitals of the country. The growing working-class female population is also a key factor supplementing the market growth over the next five years.
However, the health risks associated with the consumption of pills, coupled with the lack of awareness about contraception in underdeveloped economies, are some of the key factors hampering the market growth during the next five years. Moreover, the outbreak of COVID-19 had a moderate impact on the market growth since the demand for devices and pills decreased during the pandemic.
High cases of unintended pregnancies drive the growth.
The primary factor propelling the demand for contraceptive devices and drugs is the globally growing number of unintended or mistimed pregnancy cases worldwide. As per the study from the World Health Organization in 36 countries, promiscuous women who wished to delay did not use contraception which further led to a case of one in four pregnancies being unintended. The study also found that 9.9% of the total women in the study had unintended pregnancies.
Lack of education and low awareness about contraception in some economies and restricted access to devices and drugs are some of the major factors propelling the number of cases of unwanted pregnancies. However, governments play a significant role in making people aware of these products and educating them regarding proper family planning through programs and campaigns. Thus, the number of unwanted pregnancy cases plays a considerable role in supplementing the contraceptive market growth during the forecast period.
Health risks associated with contraception
The health risk associated with the consumption of pills and other devices may restrict their demand to some extent, which is considered a negative factor for the market growth over the next five years. There are several side effects of oral pills, such as nausea, migraine, severe abdominal pain, etc. All such factors make women reluctant towards their consumption. However, the consumption of oral pills also may fail to give 100% results.
Drugs to witness promising growth during the next five years
By product, the market classification has been done into drugs and devices. The drugs segment is further distributed into pills, injectables, and topical contraceptives, and the devices segment is distributed as condoms, IUDs, diaphragms, rings, and others.
The devices segment is projected to hold a substantial share in the market throughout the course of the next five years owing to the high use of devices such as condoms, sponges, and diaphragms, among others, as a means of reducing the risks of STDs and for birth control as well.
Moreover, the growing awareness among the people living in developing economies regarding the use of condoms and government policies and programs aimed toward the use of condoms to promote safe intercourse are some of the major factors supporting the demand as well as the growth of this segment over the course of the next five years. On the other hand, the drugs segment is projected to witness substantial growth during the next five years, which may be attributed to the growth of the millennial population in many parts of the world.
North America to hold a considerable market share.
By geography, the global market for contraceptives is distributed in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific. The North American region is anticipated to hold a significant share in the market to high awareness, particularly across the United States and Canada. Moreover, the higher purchasing power of the people, coupled with a well-established healthcare sector, will further supplement the region's share during the next five years.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Contraceptives Market Analysis, by Product
5.2.1. Contraceptive Pills
5.2.2. Injectable Contraceptives
5.2.3. Topical Contraceptives
5.3.2. Intrauterine Devices (IUDs)
6. Contraceptives Market Analysis, by Distribution Channel
7. Contraceptives Market Analysis, by Age Group
7.2. 15-24 years
7.3. 25-34 years
7.4. 35-44 years
7.5. Above 44 years
8. Contraceptives Market Analysis, by Geography
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. Allergan plc
10.2. ANSELL LTD.
10.3. Bayer AG
10.4. CooperSurgical Inc.
10.5. Merck & Co., Inc.,
10.6. Church & Dwight Co., Inc.
10.7. Veru Inc.
10.8. Mayer Laboratories, Inc.
10.9. Pfizer Inc.
10.10. Teva Pharmaceutical Industries Ltd.
10.11. Reckitt Benckiser Group plc
10.12. Mankind Pharma
10.13. Karex Berhad
For more information about this report visit https://www.researchandmarkets.com/r/m3o4ue
Research and Markets
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