Contraceptives Market Poised for Steady Growth, Reaching US$33.79 Billion by 2034 at a 5.5% CAGR | FMI Study

The Contraceptives Market is on track for a significant expansion, driven by a growing emphasis on family planning and reproductive health. According to a recent market analysis, the market is projected to reach a value of US$19.79 billion in 2024. This is expected to be just the beginning, with the market poised for steady growth at a Compound Annual Growth Rate (CAGR) of 5.5% from 2024 to 2034. This upward trajectory is projected to propel the market to reach an impressive US$33.79 billion by 2034.

In a significant revelation, FMI’s research highlights the dominance of contraceptive devices, projected to contribute approximately 58.3% to the market in 2021. This emphasizes the increasing global demand for innovative contraceptive solutions.

By the conclusion of 2029, the Global Contraceptives Industry size is anticipated to reach approximately US$ 33,529 million, marking a steady ascent at a CAGR of approximately 6.2% from 2019 to 2029. FMI attributes this sustained growth to various factors, including the escalating need for population control, a rise in unwanted pregnancies, and proactive government initiatives promoting contraceptive use.

FMI’s research methodology is recognized for its uniqueness, offering the most accurate and insightful analysis of the contraceptive market. As a result, industry stakeholders and decision-makers can rely on FMI’s findings to make informed choices in this dynamic market.

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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 has exhibited a steady pace of growth.
• Regionally, North America dominates the contraceptive market globally.
• East Asia emerges as one of the key markets owing to its large population base, growing contraceptive awareness, and initiatives taken by the respective country’s government.
• The 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

The contraceptive market contains drugs and devices. The devices market holds most of the contraceptive market however drugs are anticipated to grow at the highest CAGR owing to their beneficial properties and easy consumption methods. With the advancement of technology, the emergence of drugs has become popular as oral contraceptive pills which have the same purpose as other contraceptive drugs or devices. The simplicity and easy consumable method are expected to make it the most popular contraceptive market. The other forms of drugs such as topical and injectable contraceptives also witness strong market demand. Furthermore, these contraceptive pills are highly effective and do not interrupt sex. Even in some cases, it has been proven 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 Global Contraceptives Industry 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 innovations. In addition to this, mergers and acquisitions remain a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.

• As a part of the government’s initiative, the government of India launched a new contraceptive pill named ‘Shukhi 3rd Generation’ in Nov 2019.
• In Sept. 2019, Exeltis USA, Inc. 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 the Contraceptives Market

Future Market Insights, in its new report, presents an unbiased analysis of the Global Contraceptives Industry, 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), 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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Contraceptives Market Segmentation

Product Type

• Contraceptive Drugs
  • Oral Contraceptive Pills
  • Injectables
  • Topical
• Contraceptive Devices
  • Diagrams
  • 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.)

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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