Contraceptives Market Trends, Industry Demand, Top Leaders, Size Estimation, Business opportunities, Challenges and Outlook to 2027
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 the Asia-Pacific and LAMEA regions.
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 contraceptive market. 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 the Asia-Pacific and LAMEA regions.
Advent of advanced contraceptive methods, emergency contraceptives method especially for teenagers, and increase in awareness towards sexually transmitted infections (STIs), are the major factors responsible for the growth of contraceptives market. Growth in popularity of female condoms, custom-fit condoms, and other novel products have fueled the contraceptive demand, especially in the developed regions. Furthermore, rise in adoption for modern contraceptives in the developing economies contribute to the significant growth in the world contraceptives market. However, associated risks, sociocultural influences of contraceptives, and side effects such as infertility resulting from the use of contraception are the major impediments to the market growth.
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Oral contraceptive drugs or oral contraceptive pills segment accounted for over 85% share in the overall contraceptive drugs market in 2015. Oral pills are the most common type of reversible contraception used globally. High effectiveness and convenience in comparison to contraceptive devices, particularly implants have made it a preferred mode of contraception. Also, the large consumer base and government initiatives to cater the unmet need of contraception further boosts the market growth. Injectable contraceptives is the fastest growing segment in the global market, and is estimated to register a CAGR of 7.2% during the forecast period due to rise in awareness among individuals and growth in population.
Condoms is expected to dominate the overall contraceptives device market throughout the analysis period, due to the increase in demand in developed as well as developing economies. Male condoms are more popular than female condoms; thereby significantly boosting the growth of the overall contraceptive market. The increase in popularity of male condoms is attributed to their easy accessibility, ease-of-use, and wide acceptance across various regions. Furthermore, intrauterine (IUD) segment is anticipated to exhibit the highest growth, registering a CAGR of 10.1% during the forecast period, owing to their effectiveness in prevention of unwanted pregnancies for almost 1012 years after insertion in the body and transmission of STDs.
Based on age group, women ranging between 15 and 24 years, are the major contributors to generate highest revenue in the world contraceptive market. This is owing to the increased usage of contraceptives among the teenagers and early maturity among the teenage girls, raising the demand for contraceptives. However, women aged above 44, are the least contributor to the market growth due to the menopause in women at the age 44 and above.
The North American region accounted for majority of the share of the world contraceptives market in 2015. The North American contraceptive market is expected to maintain its lead throughout the forecast period due to increase in awareness among the population, rise in adoption of modern contraceptives, and increase in prevalence of sexually transmitted diseases such as HIV/AIDS. 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 governmental bodies that focus on birth control. Moreover, technological advancements and cost-effective contraceptive products in these regions offer lucrative opportunities to contraceptive manufacturers.
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The report provides a comprehensive analysis of the key players that operate in the contraceptives market, namely, The Female Health Company, Teva Pharmaceutical Industries Limited, Allergan plc, Bayer AG, Pfizer, Inc., Cooper Companies, Inc., Ansell LTD., Mayer Laboratories, Merck & Co., Inc., and Church & Dwight, Co., Inc.
Other players in the value chain include Reckitt Benckiser Plc, Warner Chilcott Company, BioSante Pharmaceuticals Inc., Agile Therapeutics Inc., HLL Lifecare Limited, MANKIND Pharmaceuticals, TTK HealthCare, Boehringer Ingelheim GmbH, Watson Pharmaceuticals, Inc., V-Care Pharma Pvt. Ltd., Vardhman Life care pvt. Ltd., and Cipla Limited.
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