Pune, India, June 06, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Contraceptives Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis By Product , End User and Distribution Channel”, the global contraceptives market size is expected to grow from USD 20,825.0 million in 2020 and is expected to reach USD 29,629.4 million by 2028; it is estimated to record a CAGR of 4.6% from 2021 to 2028.
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Contraceptives Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 20,825.0 million in 2020 |
| Market Size Value by | USD 29,629.4 million by 2028 |
| Growth rate | CAGR of 4.6% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2020 |
| No. of Pages | 227 |
| No. of Tables | 169 |
| No. of Charts & Figures | 87 |
| Historical data available | Yes |
| Segments covered | Product, End User, Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Siemens Healthineers, Carestream Health, General Electric, Hologic, Inc., Koninklijke Philips N.V., PLANMED OY, Fujifilm Corporation, Canon Medical Systems, Metaltronica S.p.A., IMS Giotto S.p.A |
Browse key market insights spread across 227 pages with 169 list of tables & 87 list of figures from the report, "Contraceptives Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product [Condoms, Intrauterine Product (IUDs), Vaginal Rings, Implants, Patches, Diaphragms, Emergency Contraceptives, Sponges, Others], End User (Home Care, Hospitals and Clinics), Distribution Channel (Retail Pharmacy, Online Pharmacy, Hospital Pharmacy)" in detail along with the table of contents: https://www.theinsightpartners.com/reports/contraceptives-market
Global Contraceptives Market Analysis: Competitive Landscape and Key Developments
Bayer AG, Cooper Companies, Inc., Merck & Co., Inc, HLL Lifecare Limited, Church & Dwight, Inc., Pregna International Limited, Mayer Laboratories, Inc., Medicines360, Prosan International B.V., and Cupid Limited are a few of the key companies operating in the contraceptives market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In August 2020, Cupid Limited, has received USFDA approval for the additional variants of Cupid male contraceptives. The company has received USFDA nod for the additional four variants to market them in the United States. Earlier, the company had received USFDA approval for one variant of male contraceptives.
In September 2020, Bureau of Reproductive Health, Department of Health, Ministry of Public Health, and Bayer Thai Co., Ltd., join a collaboration international campaign to reduce unplanned pregnancies among Thai teens as well as promote awareness of effective birth control methods to improve quality of life on World Contraception Day 2020.
In August 2018, Luye Pharma Group Ltd. agreed to acquire the global rights to hormonal contraceptive Apleek from Bayer AG.
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Increasing Awareness About Sexually Transmitted Diseases Provides Lucrative Opportunities for Global Contraceptives Market:
Sexually transmitted diseases (STDs) have a major impact on sexual and reproductive health worldwide. As per the WHO, more than 1 million sexually transmitted infections (STIs) are acquired every day worldwide. Each year, ~376 million new infections with chlamydia, gonorrhea, syphilis, and trichomoniasis are reported. Contraceptive methods alter the risk of acquiring STDs. For instance, spermicides have been reported to kill a wide range of bacteria and viruses, including HIV, in vitro; moreover, they have been reported to provide protection against gonorrhea, chlamydia, and pelvic inflammatory disease in vivo. Condoms and diaphragms also provide a certain level of protection from bacterial and viral infections.
Growing awareness through government initiatives and sex education programs to reduce the prevalence of STDs offers lucrative opportunities for the growth of the contraceptives market players. Various governments are promoting the use of condoms to prevent unwanted pregnancies and preventing STDs. For instance, the Centers for Disease Control and Prevention (CDC) has Condom distribution programs (CDPs) to prevent HIV and STDs. The program helps in increasing the availability and accessibility of condoms. In India, free condoms are provided by the Ministry of Health and Family Welfare, distributed by National AIDS Control Organization (NACO), to the high-risk groups, as a part of HIV/AIDS prevention strategies. Similarly, the National Department of Health (NDOH) is taking steps to ensure the easy availability of male condoms across South Africa, thus creating awareness among people regarding the use of condoms. Also, increasing research on women's condoms is creating lucrative opportunities for market growth. Women have limited options to adopt to gain protection against HIV, and they need better alternatives such as female condoms than being dependent on their partners; the dapivirine ring is one such tool. In July 2020, the European Medicines Agency (EMA) had a positive scientific opinion on the dapivirine vaginal ring. Two large clinical trials have found that this ring reduced the risk of HIV infection by ~30% in cisgender women from the age group of 18–45 in the Southeast Africa.
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The US held the largest share of the North American contraceptives market in 2020. The contraceptives market growth in this region can be attributed to awareness among the population, prevention of unwanted pregnancies and increasing product developments by key players in the region. Also, rising awareness for sexually transmitted diseases is likely to favor contraceptives market growth. As per the 2015–2017 National Survey of Family Growth data, in 2015–2017, around 64.9% (46.9 million) of the 72.2 million women aged between 15–49 years in the US were using contraception. It also mentioned the commonly used contraceptive methods were female sterilization (18.6%), oral contraceptive pill (12.6%), long-acting reversible contraceptives (LARCs) (10.3%), and male condom (8.7%). As per the survey female sterilization decreased and use of the pill increased with higher education. Further, also the growing prevalence of sexually transmitted diseases is increasing the demand for contraceptives. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2018, one in five (68 million) people in the US have an STI (sexually transmitted infection) of which 26 million cases were new STIs in 2018. Also, government efforts for family planning is likely to favor the market growth. The government of US has always supported family planning/reproductive health (FP/RH) efforts for more than 50 years and is the largest contributor to family planning/reproductive health across the globe. It is one of the largest distributors and buyer of contraceptives worldwide. The US government funds for FP/RH to the United Nations Population Fund (UNFPA), was US $608 million in the year 2019. The Department of Health and Human Services (HHS) introduced a Teen Pregnancy Prevention Initiative in 2010 that comprises of programs targeting groups with high teen pregnancy rates. The government invested $100 million in grant funding for the Teen Pregnancy Prevention Program to address high rates of teen pregnancy, sexually transmitted infections (STIs), and associated sexual risk behaviors. Increasing number of products launches in the US is likely to propel market growth during the forecast period. In the year 2018, Lupin launched Drospirenone, Ethinyl Estradiol, and Levomefolate Calcium tablets in the US market, which are used to prevent pregnancy. The company launched the product in the US after receiving US Food and Drug Administration (USFDA) approval.
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Hormonal Contraceptive Market Forecast to 2028 - Covid-19 Impact and Global Analysis
Intrauterine Contraceptive Device Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Female Condoms Market Forecast to 2028 - COVID-19 Impact and Global Analysis
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