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Contraceptives Market Expected to Reach $50.6 Billion by 2030

 
2022
Contraceptives Market

Report Code : A00352

quote The global contraceptives market witnessed significant growth over the past decade, owing to initiatives taken by regulatory bodies and government organizations to mandate the use of barrier contraceptives, such as condoms. Contraceptive methods for home use are effective and convenient, owing to the cost-effectiveness of these products. Advancements in the contraceptive techniques and launch of awareness programs by government agencies and other regulatory bodies to increase household usage of contraceptives drive the markets in Asia-Pacific and LAMEA regions. quote

Onkar Sumant - Manager
Life Sciences at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Contraceptives Market," The contraceptives market size was valued at $26,321.50 million in 2020, and is estimated to reach $50.6 Billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030. 

The use of advanced contraceptive methods and emergency contraceptives methods, especially for teenagers, and increase in awareness regarding sexually transmitted infections (STIs) are the major factors responsible for the growth of the contraceptives market. Increase in popularity of female condoms, custom-fit condoms, and other novel products fuels the demand for contraceptives, especially in developed regions. Furthermore, rise in adoption of modern contraceptives in the developing economies has significantly contributed to the market growth. However, sociocultural influences of contraceptives and side effects, such as infertility resulting from the use of contraception are the major impediments to the market growth.

The contraceptives market is segmented based on product, age group, end user, and geography. On the basis of product, the market is classified into drugs and devices. The drugs segment dominated the market in 2020. By age group, the market is divided into 15-44 years, and above 44 years. 15-44 years segment dominated the market in 2020. By end user, the market is segmented into households, hospitals, and clinics. The households segment dominated the market in 2020.

The condoms segment is expected to dominate the overall contraceptives device market during the forecast period, due to increase in their demand in developed as well as developing economies. Male condoms are more popular than female condoms, which significantly boosts the growth of the overall contraceptive market. Increase in popularity of male condoms is attributed to their easy accessibility, ease-of-use, and wide acceptance across various regions.

Contraceptives market analysis is done on the basis of age group, product type, and end user. On the basis of age group, women in the age group of 15–24 years are the major revenue contributors to the contraceptive market. This is attributed to the increased usage of contraceptives among teenagers, early maturity among teenage girls, and rising demand for contraceptives. However, women aged above 44 years are the least contributors to the contraceptives market growth due to the menopause in women at the age 44 years and above. Above 44 years segment has highest contraceptives market share.

On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for majority share in the contraceptives market in 2020. This market is expected to maintain its lead during the forecast period due to increase in awareness among the population, upsurge in adoption of modern contraceptives, and rise in prevalence of sexually transmitted diseases such as HIV/AIDS. Contraceptives market forecast from 2020 to 2030.

The U.S. contraceptive market accounts for the largest share in the overall North America contraceptive market. Asia-Pacific region is expected to grow at the fastest pace during the study period, owing to high population base and proactive initiatives of governmental organization for birth control. Moreover, technological advancements and cost-effective contraceptive products in these regions offer lucrative opportunities to contraceptive manufacturers. Initiatives taken by regulatory bodies and government organizations to mandate the use of barrier contraceptives, such as condoms, have significant impact on the growth of the contraceptive market. Contraceptive methods for home use are effective and convenient, owing to the cost-effectiveness of these products. Advancements in contraceptive techniques and launch of awareness programs by government agencies and other regulatory bodies to increase household usage of contraceptives drive the markets in Asia-Pacific and LAMEA regions. Asia-Pacific region has highest contraceptives market size. 

The report provides a comprehensive analysis of the key players that operate in the contraceptives market, namely, Veru Inc., Teva Pharmaceutical Industries Limited, Abbvie Inc., Bayer AG, Pfizer, Inc., Cooper Companies, Inc., Ansell LTD., Mayer Laboratories, Merck & Co., Inc., and Church & Dwight, Co., Inc.

Several manufacturers in the global contraceptives industry stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the contraceptives manufacturing companies. For instance, net sales of Teva Pharmaceuticals Industries Limited dropped by 4.7% from January 2021 to December 2021. In addition, lack of man power and raw materials affected the supply chain of the global contraceptives market. However, the market is projected to cover from the 1st quarter of 2023, due to reduced restrictions and reopening of the global contraceptives industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with a start of 2022.

 

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quote Contraceptives Market by Product Type (Drugs, Devices), by Age Group (15-44 Years, Above 44 Years), by End User (Households, Clinics, Hospitals): Global Opportunity Analysis and Industry Forecast, 2020-2030 quote

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