Contraceptive Drugs and Devices Market: Global Industry Analysis and Forecast (2023 -2029) Trends, Statistics, Dynamics, Segmentation

The Contraceptive Drugs and Devices Market size was valued at USD 26.11 Billion in 2022 and is expected to reach USD 41.75 Billion by 2029, at a CAGR of 7.0% from forecast 2023 to 2029
Contraceptive Drugs and Devices Market Overview
The global Contraceptive Drugs and Devices Market is forecasted to experience substantial growth in the upcoming years, fuelled by increasing awareness of STDs and other diseases and rising government initiatives to promote the product. According to the report, the global Contraceptive Drugs and Devices Market size was valued at USD 26 billion in 2022 and is forecasted to reach USD 41.75 billion by 2029, growing at a CAGR of 7.00% from 2023 to 2029. The North America region is projected to witness the highest growth rate during the forecast period. Various other factors that are driving and restraining the market’s growth are discussed below. Some of the elements are the side product's side effects and the cultural barriers that have been analysed thoroughly. The report also discusses various key players involved in the contraceptive drugs and devices market and their recently implemented strategies. The news about the partnership has also been studied thoroughly.To know about the Research Methodology :- Request Free Sample Report
Contraceptive Drugs and Device Market Dynamics
The female segment is a segment which would witness the contraceptive drugs and device market.

A growing number of unwanted pregnancies, rising sexually transmitted illnesses, and greater adoption of contraceptive medications and devices will all likely contribute to the female market segment for contraceptive drugs and devices expanding significantly throughout the forecast period.

The main driver boosting demand for the female contraception market is the increased adoption of contraceptive medications and devices. For instance, a June 2021 publication in the Journal of Family Medicine and Primary Care showed a prevalence rate of 75% for contraception. The most common female contraceptive methods were tubectomy (81.6%), intrauterine devices (6.3%), and oral contraceptive pills (0.7%). As a result, it is projected that increased usage of contraceptive drugs and equipment would spur market growth. Over the forecast period, the market's expansion is projected to be aided by companies putting more emphasis on implementing different business strategies such as product launches, mergers, and company spin-offs. For instance, under an exclusive licence, marketing, and distribution agreement with Slayback Pharma LLC, Lupin, a pharmaceutical firm with headquarters in Mumbai, introduced Merzee capsules in April 2022.

The public listings for NEXPLANON (etonogestrel extended-release subdermal implant) in Quebec under the Régie de l'assurance Maladie du Québec (RAMQ) were also announced by Organon in November 2021. Similarly, Sebela Pharmaceuticals Inc. and PRA Health Sciences are working together to undertake a phase III clinical trial in June 2021 to evaluate LevoCept, a long-acting reversible intrauterine system, for its effectiveness, safety, and tolerability as a contraceptive.

The rising government initiative drives the contraceptive drugs and device market.

Government driver is identified as another driving factor for the contraceptive drugs and device industry. The government have introduced several initiatives which help in the market growth. The government of India have launched PM Jan Dhan Yojna, which provides financial services to people experiencing poverty, including contraception. Kenya’s government provides free condoms to all citizens. The US also has the Affordable Care Act, which covers contraception without deductibles.

Religious and cultural restrictions would affect the market.

There are social or strict forbiddances on utilising contraception in a few districts of the world. These restrictions may vary from community to community and nation to nation. For example, while some religions forbid all contraception, others only forbid a few. In addition, cultural expectations can discourage the use of on, particularly in nations where women are expected to have large families. Regardless of whether an individual needs to take con contraception, these limitations might make it hard to gain admittance to it. As a result, unanticipated pregnancies and other reproductive health issues may occur. Working with strict and local area pioneers to educate them regarding the benefits of contraception and find answers to this issue is essential.
Contraceptive Drugs and Devices Market Regional Insights:
North America is the largest market having a sizable proportion of almost 30% in 2022. This supremacy is a result of several things. First is more knowledge about contraception, encouraging people to utilise contraceptive pills and devices. The area also has a relatively high disposable income, which enables people to buy and access various contraceptive techniques. Additionally, North America gains from a robust healthcare system that makes contraceptives accessible and widely distributed. Last but not least, supportive government policies promote family planning programmes and support them, which contributes to the market's expansion.

The second-largest market is closely followed by Europe, which will hold around 25% of the market in 2022. Similar characteristics exist in Europe and North America, which helps explain its market position. Additionally, the area’s population has a high level of awareness regarding contraception. Additionally, the relatively high disposable income levels allow people to buy and select from various contraceptive medications and technologies. Furthermore, Europe has a developed healthcare system that makes contraceptive treatments more widely accessible and available.

The third-largest market in terms of market share in 2022 is the Asia-Pacific region, which accounts for around 20% of global sales. This area has a bright future for expansion for several reasons. First off, the population of the site is expanding quickly, increasing the need for contraceptive medications and devices. Additionally, there is a growing awareness of family planning and contraception as societies appreciate the significance of reproductive health. Growing disposable income levels also help the market expand since more people can afford contraceptives. Favourable government initiatives to support family planning and reproductive health also contribute to the market's growth.

Latin America is projected to have the fourth-largest market share in 2022, with over 15% of the total. Like other regions, Latin America experiences growth due to a growing population, rising disposable income, and greater public awareness of the need for contraception and family planning. These factors impact the local adoption and utilisation of contraceptive drugs and methods.

The Middle East and Africa region is occupy the fifth spot with a market share of almost 10% in 2022. Population growth, improved awareness of contraception, and rising disposable income all support market expansion in the area. As local communities learn the benefits of family planning, the demand for contraceptive drugs and supplies steadily grows.

The Asia-Pacific area is predicted to grow the fastest during the forecast period. A few factors contributing to this expansion include the region's growing population, more understanding of contraception and family planning, rising disposable income levels that make it more affordable, and pro-reproductive health government initiatives.
Contraceptive Drugs and Devices Market Segment Analysis:
The Contraceptive Drugs and Devices Market is segmented based on various factors, providing insights into different market aspects. Here are eight key segmentation factors:

Product Type: Oral contraceptives (pills), intrauterine devices (IUDs), patches, injectables, implants, condoms, and other products are among the product categories that make up the segments of the market for contraceptive drugs and devices. These segments show the many types of consumer-accessible contraception.
Distribution Channel: Based on distribution channels such as hospitals and clinics, internet pharmacies, brick-and-mortar pharmacies, and others, the industry is segmented in this way. It aids in identifying the main distribution routes for contraceptive medications and products to customers.

End User: The market for contraceptive drugs and products is divided into end users, including men and women. This segmentation aids in comprehending the precise target market for various contraceptive medicines.
Age Group: The market is also divided into age categories, including teens, young adults, and adults. Age groups may have different contraceptive requirements and preferences, necessitating specific marketing and product options.
Consumer Demographics: This segmentation considers various demographic criteria such as income, educational background, and cultural preferences. Understanding customer demographics aids in the development of focused marketing tactics as well as the identification of possible growth sectors.

Prescription vs Over-the-counter (OTC): The market can be segmented based on whether the contraceptives are available only with a prescription or over-the-counter. This segmentation distinguishes between products requiring a healthcare professional's intervention and those consumers can purchase directly.
Contraceptive Drugs and Devices Market Competitive Landscape:
Prominent corporations such as Bayer AG, Pfizer Inc., Merck & Co., Inc., Teva Pharmaceuticals Ltd, Agile Therapeutics, Inc., Allergan plc, Ani Pharmaceuticals Inc., Church & Dwight Co., Inc., Fuji Latex Co., Ltd, and Johnson & Johnson are competing for a share of the market in contraceptive drugs and devices. These enterprises employ various strategies to gain an edge, including developing new products, marketing and sales initiatives, and competitive pricing. The product development focuses on offering and improving contraceptive medications and technologies, like Bayer AG's recently devised contraceptive pill that boasts enhanced efficacy and fewer adverse effects. Marketing and sales efforts entail considerable investments to promote their goods, with Pfizer Inc. being renowned for its extensive advertising campaigns.

Pricing tactics also play a role, as companies like Teva Pharmaceuticals Ltd provide more affordable options to attract budget-conscious consumers. The market's competitive landscape constantly evolves, with new players and established companies expanding their product offerings and market presence, driving further competition and fostering innovation. As the market progresses, ongoing innovation, competition, and policy changes are expected in the future. These advancements will lead to improved contraceptive options and better access to reproductive healthcare.
Contraceptive Drugs and Devices Market Scope: Inquire before buying



Contraceptive Drugs and Devices Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 26.11 Bn.


Forecast Period 2023 to 2029 CAGR:
7%
Market Size in 2029:
US $ 41.75 Bn.


 Segments Covered:
by Product Type
Oral contraceptives (pills)
Intrauterine devices (IUDs)
Patches
Injectables
Implants
Condoms
Other


by Distribution Channel
Hospitals and clinics
Internet pharmacies
Brick-and-mortar pharmacies
Others


by End User
Men
Women
Others


by Age Group
Teens
Young adults
Adults


by Consumer Demographics
Income
Educational background
Cultural preferences


by Prescription vs Over-the-counter (OTC)
Prescription
Over-the-counter



Contraceptive Drugs and Devices Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
South America (Brazil, Argetina and Rest of South America)
Contraceptive Drugs and Devices Market, Key Players:
1. Pfizer Inc. (United States)
2. Merck & Co., Inc. (United States)
3. Teva Pharmaceuticals Ltd (Israel)
4. Agile Therapeutics, Inc. (United States)
5. Allergan plc (Ireland)
6. Ani Pharmaceuticals Inc. (United States)
7. Church & Dwight Co., Inc. (United States)
8. Fuji Latex Co., Ltd (Japan)
9. Johnson & Johnson (United States)
10. Mylan N.V. (United States)
11. Reckitt Benckiser Group plc (United Kingdom)
12. The Female Health Company (United States)
13. Medisafe Distribution Inc. (Canada)
14. Eurovital (France)
15. Lupin Limited (India)
16. HLL Lifecare Limited (India)
17. Mithra Pharmaceuticals (Belgium)
18. Afaxys, Inc. (United States)
19. Okamoto Industries, Inc. (Japan)
20. Mayer Laboratories, Inc. (United States)
21. CooperSurgical, Inc. (United States)
22. The Female Health Company (United States)
23. Biosante Pharmaceuticals, Inc. (United States)
24. Guilin Pharmaceutical Co., Ltd. (China)
25. Cipla Ltd. (India)
26. DKT International (United States)
FAQs:
1. What are the growth drivers for the Contraceptive Drugs and Devices Market?
Ans: Government initiative is one of the primary drivers for the contraceptive drugs and devices market.

2. What is the major restraint for the Contraceptive Drugs and Devices Market growth?
Ans: The lack of awareness and cultural barriers are among the restraints of the contraceptive drugs and device market.

3. Which region leading the global Contraceptive Drugs and Devices Market during the forecast period?
Ans: North America is leading the global Contraceptive Drugs and Devices Market during the forecast period.

4. What is the projected market size & growth rate of the Contraceptive Drugs and Devices Market?
Ans: The projected market size for the contraceptive drugs and devices market is 41.75 Bn USD with a CAGR of 7.0%

5. What segments are covered in the Contraceptive Drugs and Devices Market report?
Ans: Some segments included in the contraceptive drugs and device market are the segment by type, distribution channel, consumer age group and end-user.