The market size of the Global Contraceptive Market in the year 2021 is valued at 27.41 billion and is predicted to reach 49.60 billion by the year 2030 at an 7.02% CAGR during the forecast period.
The use of contraception has increased, which has improved health outcomes, such as maternal and newborn mortality, and reduced the risk of STDs. Additionally, it is projected that an increase in the number of gynecologists who support these contraceptive methods for birth control would fuel business expansion in the coming years. The market projections for contraceptives consider factors such as rising awareness of modern contraceptives, rising use of secure and reliable oral pills, and health concerns associated with teen pregnancies. Female contraceptives currently dominate the market, but as more men use condoms, the demand for male contraceptives will rise. Serious adverse effects include liver diseases, gallbladder illness, heart attacks, and blood clots in the legs. Over the foreseeable period, sales will be constrained by these contraceptive-related side effects. The market may be expanding due to various issues, such as increased consumer knowledge of STDs, unwanted pregnancies, and population control. These factors will cause the need for contraceptives to skyrocket, especially in emerging nations. There is a considerable likelihood that the market will expand thanks to the arrival of new vendors and the growing accessibility of sophisticated contraception techniques greatly. Retail pharmacies will continue to dominate the industry due to manufacturers' improved supply chain networks.
The contraceptive market is segmented into Products (drugs and devices). Based on drugs, the market is segmented into oral contraceptive pills, injectable contraceptives and topical contraceptives. Based on devices, the contraceptive market is segmented into condoms (male, female), diaphragms, contraceptive sponges, vaginal rings, subdermal implants and intra-uterine devices (copper, hormonal).
Based on contraceptive drugs, the contraceptive pills segment is a major contributor to the Contraceptive market.
The market's leading segment is contraceptive pills. The main purposes of contraception pills are to prevent unintended pregnancies, regulate birth rates, and reduce the risk of sexually transmitted diseases. As a result, it will increase in the years to come. Additionally, rising contraceptive use among young women and higher education levels supports the growth of the contraceptive drugs market.
The vaginal ring segment witnessed growth at a rapid rate
The vaginal ring segment is predicted to develop significantly during the forecast period. The segment is growing due to factors including cost-effectiveness and long product life cycles. The availability of new goods and the simplicity of using vaginal rings are anticipated to increase demand for these birth control methods.
The North American contraceptive market holds a significant revenue share in the region.
The North American Contraceptive market is expected to register the highest market share. Favourable government programs, a high proportion of unwanted pregnancies, a rise in the prevalence of sexually transmitted illnesses, etc. The U.S. government has launched several education campaigns about family planning and contraception, which have boosted the sector's income. In the United States, there are many unwanted pregnancies. Besides, Asia Pacific had a substantial share of the Contraceptive market. The region's demand for contraceptives is expected to grow due to increased government activities. The market in the Asia Pacific is also anticipated to be driven by an increase in unwanted pregnancies and improved family planning awareness.
Some major key players in the Contraceptive market are Bayer AG; China Resources Zizhu Pharmaceutical Co., Ltd. (CR Zizhu); Cupid Ltd.; Helm AG; Church & Dwight; Organon Group Of Companies; Pfizer Inc.; Viatris (Mylan); Abbvie, Inc.; Afaxys, Inc.; Agile Therapeutics; Janssen Pharmaceuticals, Inc.; Veru, Inc.