Contraceptives Market Size Growing at 5.8% CAGR, Set to Reach USD 42.4 Billion By 2030

LOS ANGELES, March 08, 2023 (GLOBE NEWSWIRE) -- The Global Contraceptives Market Size accounted for USD 25.6 Billion in 2021 and is projected to occupy a market size of USD 42.4 Billion by 2030 growing at a CAGR of 5.8% from 2022 to 2030.

Contraceptives Market Research Report Highlights and Statistics:

• The Global Contraceptives Market Size in 2021 stood at USD 25.6 Billion and is set to reach USD 42.4 Billion by 2030, growing at a CAGR of 5.8%
• The increasing trend of delay in childbearing and the rising number of women entering the workforce are key factors driving growth in the contraceptives market.
• The increasing prevalence of sexually transmitted infections and the growing demand for long-acting reversible contraceptives (LARCs) are also contributing to market growth.
• The Asia-Pacific region is the fastest growing market for contraceptives, driven by the large population, increasing awareness about reproductive health, increasing disposable income and the availability of affordable and accessible contraceptive options.

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Contraceptives Market Report Coverage:

Contraceptives Market Overview:

The Contraceptives Market is a rapidly expanding industry, driven by the growing demand for effective and accessible family planning options.

The market for contraceptives is characterized by increasing awareness about reproductive health and a growing need for effective contraception methods.

A plethora of contraceptive options are available, including hormonal contraceptives, barrier methods, intrauterine devices (IUDs), natural family planning, and permanent methods. Hormonal contraceptives, including combined oral contraceptives, progestin-only pills, and patches, are the most widely used forms of contraception globally.

Some Side effects of contraceptives include:

• Hormonal contraceptives like birth control pills, patches and injections can cause nausea, headaches, weight gain, mood swings, irregular bleeding, decreased sex drive, bloating, breast tenderness, and skin discoloration.
• Intrauterine devices can cause heavy and painful periods, cramping, and spotting between periods.
• Sterilization like tubal ligation and vasectomy can cause pain and discomfort during and after the procedure, and a very low failure rate.
• This can be growth hindering factors for the market for contraceptives.
• The Asia-Pacific region is a major contributor to the contraceptives market, driven by a large population, increasing disposable income, and heightened awareness about reproductive health. Other factors driving market growth include the rising trend of delayed childbearing and the increasing number of women entering the workforce.
  

Trends in the Contraceptives Market:

• High demand for long-acting reversible contraceptives (LARCs)
• Growing prevalence of sexually transmitted infections
• Increasing awareness about reproductive health
• Growing demand for affordable and accessible contraceptive options
• Rising trend of delay in childbearing
• Increasing number of women entering the workforce
• Growing focus on non-hormonal contraception methods
• Expansion of telemedicine and online pharmacies

Contraceptives Market Dynamics:

• High demand for effective and accessible family planning options
• Good demand for personalized contraceptive options
• Rising adoption of combination contraceptives
• Growing awareness about emergency contraception
• Rising number of unplanned pregnancies
• Excelling number of public-private partnerships for contraceptive access
• Rising awareness about the importance of family planning for maternal and child health.
  

Growth Hampering Factors in the market for Contraceptives:

• Lack of awareness and education about contraception options
• Religious and cultural objections to the use of contraceptives
• Limited access to contraception in certain regions
• Financial barriers to accessing contraception
• Side effects associated with certain forms of contraception
• Resistance to hormonal contraceptives
• Stigma and discrimination surrounding contraception
• Limited availability of non-hormonal contraception options
• Lack of government support and funding for contraception
• Misinformation and misconceptions about contraception
• Privacy concerns surrounding the use of telemedicine for contraception
• Resistance to new and innovative forms of contraception.

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Market Segmentation:

Type of Product

• Drugs
  1. Injectable Contraceptives
  2. Oral Contraceptive Pills
  3. Topical Contraceptives
• Device
  1. Condom
     • Female Condom
     • Male Condom
  2. Vaginal Ring
     • Contraceptive Sponge
     • Diaphragm
     • Intra-Uterine Devices
  3. Copper IUD
     • Hormonal IUD
  4. Subdermal Implants
• By Age
  1. 15 to 44
  2. Over 44

Contraceptives Market Overview by Region:

North America’s Contraceptives market share is the highest globally. The market is characterized by a high level of awareness about reproductive health and a growing demand for personalized contraceptive options.

The Asia-Pacific region’s Contraceptives Market share is also huge and is growing at the fastest rate, driven by a large population and increasing awareness about reproductive health. The increasing number of women entering the workforce and the rising trend of delayed childbearing are also key drivers of market growth in this region.

Europe is another key market for Contraceptives, driven by a growing demand for effective and accessible contraception options, as well as an increasing focus on non-hormonal contraception methods.

The South American and MEA regions have a growing Contraceptives market share. Despite the high demand for contraception in these regions, limited access to affordable options remains a major barrier to market growth. In some poorer and orthodox countries contraceptives may be viewed as taboo, which can be a big factor in limiting the growth of the market for contraceptives.

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Contraceptives Market Key Players:

Some of the major players in the Contraceptives Market include Allergan, Pfizer Inc., Merck & Co., Inc., Bayer AG, Agile Therapeutics, Inc., Church & Dwight Co., Inc., Teva Pharmaceutical Industries Ltd., Lupin Limited, Hisamitsu Pharmaceutical Co., Inc., CooperSurgical, Inc., The Mead Johnson Company, LLC, Famy Care Ltd., Reckitt Benckiser Group plc, Famara, Inc., Danco Laboratories, LLC, Summit Therapeutics, HRA Pharma, and Linneo Health. These players are constantly innovating and introducing new products to stay ahead of the competition, and are highly focused on expanding their presence in key markets around the world.

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