Contraceptives Industry to Showcase 5.5% CAGR, Aiming for US$ 30.8 Billion by 2032 | FMI Reveals

In 2022, the anticipated value of the worldwide Contraceptives Industry is estimated at US$ 18 billion. The demand for contraceptive drugs and devices is projected to exhibit a compound annual growth rate (CAGR) of 5.5%, resulting in the market’s overall size soaring to US$ 30.8 billion by 2032, as reported by a recent study conducted by Future Market Insights (FMI). Notably, in 2021, devices are poised to dominate the market, constituting approximately 58.3% of the product share.

Projections indicate that the global contraceptives market is on track to reach approximately US$ 33,529 million by the close of 2029. A comprehensive study by Future Market Insights (FMI) foresees a consistent upward trajectory, characterized by a CAGR of approximately 6.2% from 2019 to 2029. This growth is attributed to a combination of factors, including the growing imperative for population control, an increasing prevalence of unwanted pregnancies, and the proactive initiatives taken by governments to stimulate the contraceptive market. FMI employs innovative research methodologies to provide the most precise and reliable market analysis.

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It includes in-depth insights into the contraceptives market. Some of these are:

• The estimated value of the contraceptives market was at ~US$ 33,529 Mn in 2019. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
• Regionally, North America dominates the contraceptives market globally.
• East Asia emerges as one of key markets owing to large population base, growing contraceptive awareness and initiatives taken by the respective country government.
• Female segment holds the most of the contraceptive market as compared to men.
• Key players are likely to focus on new product development in terms of drug & device, to stay relevant in developed markets.

Contraceptive Pills – the Most Lucrative Product Type

Contraceptive market contains drugs and devices. The devices market holds most the contraceptive market however drugs are anticipated to grow at highest CAGR owing to its beneficial property and easy consuming method. With the advancement of technology, the emergence of drugs have become popular as oral contraceptive pills which has the same purpose as other contraceptive drugs or devices. The simplicity and easy consumable method are expected to make it most popular contraceptive market. The other form of drugs such as topical and injectable contraceptives also witness strong market demand. Furthermore, these contraceptive pills are highly effective and does not interrupt in sex. Even in cases, it has been proved to reduce heavy and painful periods. All these factors and benefits are expected to fuel the sales of contraceptive drugs in the global market.

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Some of the leading players operating in the contraceptives market are Bayer AGPfizer Inc., Janssen Global Services, LLC, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Mylan N.V., Allergan Plc, Reckitt Benckiser Group plc, Veru Inc., Church & Dwight Co., Inc., Medisafe Distribution Inc., Cooper Surgical, Inc., Mayer Laboratories, Inc., Pfizer, The Female Health Company and others. As a result of increasing competition, companies are focusing on expanding their product portfolio with new innovation. In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.

• As a part of government’s initiative, the government of India had launched a new contraceptive pill named ‘Shukhi 3rd Generation’ in Nov 2019.
• In Spet. 2019, Exeltis USA, Inc. had announced the Launch of Slynd(drospirenone) tablets, the First and only progestin-only pill providing pregnancy prevention with a 24-hour missed pill window

Get Valuable Insights into Contraceptives Market

Future Market Insights, in its new report, presents an unbiased analysis of the global Contraceptives market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights on the contraceptives market based on product type (contraceptive drugs – oral contraceptive pills, injectable, topical), gender (male, female), by price range (high range, low /economy), sales channel (Wholesaler/ Distributor, Hypermarket/ Supermarket, Specialty Stores, Drug & Pharma Stores, Convenience Stores, online, and others -hospitals, clinics etc.), region (North America, Latin America, Europe, East Asia, South Asia, Oceania, Middle East & Africa).

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Market segmentation

Product Type

• Contraceptive Drugs
  • Oral Contraceptive Pills
  • Injectables
  • Topical
• Contraceptive Devices
  • Diaphgrams
  • Sponges
  • Vaginal Rings
  • Subdermal Implants
  • Intrauterine Device
  • Condom

Gender

• Male
• Female

Price Range

• High Range
• Low / Economy Range

Sales Channel

• Wholesaler/ Distributor
• Hypermarket/ Supermarket
• Specialty Stores
• Drug & Pharma Stores
• Convenience Stores
• Online
• Others (hospitals, clinics etc.)

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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