The global contraceptives market size is estimated to be USD 23.52 billion in 2021 and is expected to witness a CAGR of 6.31% during the forecast period.
NGO and government initiatives to encourage use of contraceptive methods is a key driver for the growth of the global contraceptives market. Additionally, rising need for checking unwanted pregnancy and increase in awareness about contraceptives worldwide are some of the other drivers propelling the market growth. Nevertheless, health risks related with the usage of various contraceptive methods and rapid growth in aging population and rise in cases of infertility are expected to restrain the global market growth.
By Product
Based on product, the market is segmented into topical contraceptives, oral contraceptive pills, and injectable contraceptives. In 2021, the oral contraceptive pills segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to widespread use of these products and effectiveness in avoiding unplanned pregnancy worldwide. Injectable contraceptives segment projected to grow at a profitable CAGR during the forecast period. This is attributed to the increasing demand for these contraceptives as they last from 8 to 13 weeks.
By Device
Based on device, the market is segmented into contraceptive sponges, male condoms, diaphragms, female condoms, vaginal rings, sub dermal implants, and intra-uterine devices. In 2021, the intra-uterine devices segment accounted for the substantial revenue share with lucrative CAGR during the forecast period. This is attributed to a rise in number of gynaecologists choosing these devices for contraception worldwide. Male condoms segment projected to grow at a profitable CAGR during the forecast period. This is attributed to a substantially huge consumer base, high usage and government programs generating awareness about them in the developing economies.
Regional Insights
In 2021, North America accounted for the highest revenue share in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the increase in occurrence of abortion, rise in population of women inside the age group of 15-44 years, growth in initiatives from government, accessibility of technological advanced products in the region. Asia Pacific market is projected to exhibit the fastest CAGR over the forecast period owing to the increasing awareness among individuals, growing government initiatives relating to sex education for individuals are the major factors in this region.
Competitor Insights
Some of the key players in the contraceptives market are The Female Health Company (U.K.); Teva Pharmaceutical Industries Ltd. (Israel); Reckitt Benckiser Plc (U.K.); Pfizer, Inc. (U.S.); Mayer Laboratories, Inc. (U.S.); Cooper Surgical (U.S.); Church & Dwight Co. Inc. (U.S.); Actavis plc (U.S.); Merck & Co. (U.S.); and Ansell Limited (Australia).
The leading players operating in the contraceptives industry are adopting various strategies including R&D investments, adaption of advanced techniques, new technology launches, mergers & acquisitions, and regional expansions to capture a maximum revenue share. This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029.
Market Segmentation
The contraceptives market report is categorized into the following segments and subsegments:
6. COVID-19 Impact Analysis: Contraceptives Market 6.1.COVID-19: Overview 6.2.COVID-19 Impact on the Global Market 6.3.COVID-19 Impact on the Regional Markets
