contraceptives market is expected to reach US$ 29,629.4 million in 2028 from US$ 20,825.0 million in 2020; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028.
Contraceptives prevent pregnancy by preventing sperm from entering the uterus. It is commonly known as the birth control method used to avoid pregnancy. Various contraception methods are available in the market, such as male condoms, female condoms, IUDs, vaginal rings, diaphragms, and contraceptive sponges. Condoms are the only contraception that prevents sexually transmitted infections (STI). The growth of the contraceptives market is attributed to the factors such as increasing rate of unwanted pregnancies and surge in product innovations and launches. However, lack of contraceptives adoption in low-income countries is projected to deter the market growth.
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Increasing Rate of Unwanted Pregnancies
A large percentage of unintended pregnancies results from not using contraception or using it non-consistently or incorrectly. The increasing need to prevent such unwanted pregnancies, particularly in teenage women, is one of the primary drivers of the contraceptive market. The rate of such pregnancy cases is highest among women in low-income countries. For instance, as per the World Health Organization (WHO), ~74 million women in low- and middle-income countries have unintended pregnancies every year, resulting in 25 million unsafe abortions and 47,000 maternal deaths. Unintended pregnancies may lead to malnutrition, illness, abuse, and neglect, as well as death in the worst case, among mothers and newborns. They can further lead to lower educational and employment potential and poverty. Despite advancements in technology, teen pregnancy rate is substantially higher in the US than in other western countries. As per DoSomething.org, out of 3 in 10 American teen girls get pregnant at least once before age 20, thus accounting for ~750,000 teen pregnancies every year. Parenthood is one of the leading reasons compelling teen girls to drop out of schools, and ~50% of teen girls do not graduate from high schools due to motherhood. Such issues can be addressed by extending access to contraceptives. A wide range of birth control methods such as condoms, intrauterine devices (IUDs), and birth control pills are available. As per the WHO, the modern methods of contraception have a vital role in preventing unintended pregnancies. Therefore, increased access to contraceptives as well as family planning information and services results in fewer pregnancy and childbirth deaths, unintended pregnancies, abortions, and infant deaths.
Product -Based Insights
Based on product, the contraceptives market is segmented into condoms, intrauterine product (IUDs), vaginal rings, implants, patches, diaphragms, emergency contraceptives, sponges, and others. The condoms segment held the largest share of the market in 2020, whereas the intrauterine product (IUDs) segment is anticipated to register the highest CAGR in the market during the forecast period.
End User-Based Insights
Based on end user, the contraceptives market is segmented into home care, and hospitals and clinics. The home care segment held a larger share of the market in 2020, and is anticipated to register a higher CAGR in the market during the forecast period.
Distribution Channel-Based Insights
Based on distribution channel, the contraceptives market has been segmented into retail pharmacy, online pharmacy, and hospital pharmacy. The retail pharmacy segment held the largest share of the market in 2020, and is estimated to register the highest CAGR in the market during the forecast period.
Product launches and approvals are the commonly adopted strategies by companies to expand their global footprints and product portfolios. Collaboration is one of the major strategies adopted by the contraceptives market players to enlarge customer base worldwide, which, in turn permits them to maintain their brand name globally.
Contraceptives Market – by Product
Contraceptives Market – by End User
Contraceptives Market – by Distribution Channel
Contraceptives Market – by Geography
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