NEWARK, Del, Sept. 27, 2022 (GLOBE NEWSWIRE) -- The global contraceptives market is projected to reach a value of US$ 30.8 Bn by 2032, with the demand growing at a moderate CAGR of 5.5% from the forecast period of 2022 to 2032. Scaling up from a value of US$ 17.3 Bn in 2021, the contraceptives market will likely reach an estimated US$ 18 Bn in 2022. The growing need to prevent unplanned pregnancies coupled with factors like sociodemographic parameters, family traits and preferences, and family planning exposure will fuel the growth of the contraceptive market during 2022-2032.
Contraceptives are known to have both contraceptive and non-contraceptive health advantages. For example, oral contraceptives can not only prevent conception but also lower the chance of ovarian and endometrial cancer, as well as ectopic pregnancies. With widespread knowledge of the hazards of morbidity and mortality associated with pregnancy and delivery, the demand for contraceptives is expected to escalate over the upcoming decade. Besides, the emergence of more effective male contraceptive products will likely lead to a surge in the sales of overall contraceptive products. At present, female contraceptives are dominating the market but it is anticipated that male contraceptives will register a high demand owing to the elevated usage of male condoms.
There’s a growing preference for condoms as they not only act as effective birth control but also aid in the prevention of sexually transmitted diseases (STDs). Additionally, condoms have no side effects on the body.
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With a growing population, a considerable number of women of reproductive age in developing countries have needs and requirements that often go unmet. Many of these women have little to no access to contraception, restrictions in the choice of methods, social and religious issues, poor quality of available services, and gender-based deterrents. All these unmet requirements often lead to an unplanned pregnancy and other health issues. To counteract this, many governments and non-governmental organizations are taking steps to promote the use of contraceptives. Many manufacturers are also aiming to expand their business and services across developing economies to improve sales. All of these factors will foster an environment of growth for the contraceptive market during 2022-2032.
“Increasing awareness of birth control and family planning, particularly among the reproductive age groups, will stimulate the market growth of the contraceptives over the forecast period,” says an FMI analyst.
Key Takeaways:
- Growing awareness about reproductive health along with government initiatives will strengthen market prospects.
- Misperceptions and lack of social acceptance may hinder the market growth.
- The U.S. is expected to account for a major portion of the market share in North America.
- The market in Germany will grow at a CAGR of about 5.5%.
- The contraceptive market in China will register a CAGR of 6.1%.
- By product type, the devices segment will witness a CAGR of 5.5%.
- Retail sales will account for about 44.4% of the total market share in 2032.
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Competitive Landscape
Bayer AG Pfizer 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 Inc., The Female Health Company, and Exeltis USA, Inc., among others are some of the major players in the contraceptives market profiled in the full version of the report.
Leading market players are focusing on mergers, collaborations, and acquisitions to expand their market presence. These organizations are also seeking FDA approvals to gain a competitive edge.
More Insights into Contraceptives Market Report
In its latest report, FMI offers an unbiased analysis of the global contraceptive market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (drugs (oral contraceptive pill, injectable contraceptives, topical contraceptives), devices (condoms, diaphragms, contraceptive sponges, vaginal rings, cervical cap, subdermal implants, intra-uterine devices (copper, hormonal))), gender (male, female), end user (institutional sales (hospitals, specialty clinics), retail sales (retail pharmacy, drug stores, supermarkets/ hypermarkets), online sales), and region.
According to the latest FMI reports, based on region, the contraceptive market in the U.S. is expected to exhibit impressive growth over the forecast period, accounting for a major share of the market in North America. Favorable government initiatives are expected to help maintain the country’s position as the world’s leading user and supplier of contraceptives. Other countries like China and Germany will also witness substantial market growth during 2022-2032.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
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