Pune, India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The global contraceptives market size stood at USD 22.49 billion in 2019. It is projected to rise USD 30.15 billion in 2027 at 5.5% CAGR during the forecast period. Fortune Business Insightsâ„¢ has published this information in latest research titled, "Contraceptives Market Forecast, 2023-2027."
Industry Developments:
- The U.S. Food and Drug Administration (FDA) approved a non-hormonal vaginal gel named Phexxi. It was developed by the University of Illinois Chicago. It is a combination of potassium bitartrate, citric acid, and lactic acid.
- As per a study conducted by medRvix, female sex hormones may prevent the transmission of COVID-19. Some birth control pills, such as combination pills and estrogen-only pills can help in reducing the severity and susceptibility of COVID-19. But, researchers don't recommend self-medication owing to the risk of side-effects.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 5.5% |
| 2027 Value Projection | USD 30.15 Billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 22.49 Billion |
| Historical Data | 2016 to 2018 |
| No. of Pages | 150 |
| Segments covered | Product, Gender, Distribution Channel and Geography |
Key Takeaways:
- Increasing awareness of several new birth control pills will further boost product demand.
- An increasing number of clinical studies on contraceptive methods for better effectiveness will strongly suggest a positive growth trajectory across the analysis period.
- The contraceptive market segment is projected to grow at a lucrative rate over the forecast period.
- The market size in North America stood at $9.71 billion in 2019.
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Drivers & Restraints-
Increasing Government Initiatives to Skyrocket Demand for Contraceptives
As the population is surging worldwide, the governments are taking persistent initiatives to conduct awareness campaigns for lowering the risks of unwanted pregnancies, sexual disorders, and abortion. The Government of India, for instance, committed to deliver family planning services by the end of 2020 to 48 million new users at the London Summit on Family Planning. Similarly, the U.S. government developed an infant and a maternal health initiative to promote the usage of contraceptives effectively. However, contraceptives may cause multiple side-effects, such as migraine, headaches, and nausea. This factor may hinder contraceptives market growth.
Segment-
Contraceptive Drugs Segment to Dominate Fueled by Their High Efficiency
Based on product, the contraceptive drugs ices segment is set to grow with highest CAGR in the near future on account of their high demand, as well as their increasing efficiency in monitoring women's health.
Competitive Landscape-
Key Companies Aim to Gain Fast Track Approvals for Intensifying Competition
The market is fragmented owing to the availability of a large number of contraceptives. Most of the companies are frequently conducting elaborate studies to come up with state-of-the-art products to meet the growing demand. Some of the others are trying to bag FDA approvals for their newly discovered products.
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Regional Analysis-
Rising Cases of Teenage Pregnancies to Boost Growth in Europe
In 2019, North America generated USD 9.71 billion in terms of revenue and would lead in the forthcoming years. This growth is attributable to the increasing cases of unwanted pregnancies in the region. Europe is set to exhibit a considerable growth owing to the rising prevalence of teen pregnancies. Asia Pacific, on the other hand, is likely to exhibit a significant CAGR backed by the increasing entrance of new companies in the region.
List of Key Companies in Contraceptives Market:
- Pfizer, Inc.
- Bayer AG
- Cooper Surgical, Inc.
- The Female Health Company
- Teva Pharmaceutical Industries Limited
- Merck & Co., Inc.
- Mayer Laboratories, Inc
- Church & Dwight, Co., Inc.
- Medisafe Distribution Inc.
- Other Players Â
This Report Answers the Following Questions:
- What are the market drivers, hindrances, and opportunities?
- Which segment is set to lead the market in the forthcoming years?
- Which region is expected to remain in the dominant position in the near future?
- How will the key organizations generate more sales amid the COVID-19 pandemic?
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Major Table of Contents:
- Global Contraceptives Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Contraceptive Drugs
- Oral
- Injectable
- Patches
- Contraceptive Devices
- Male Contraceptive Devices
- Female Contraceptive Devices
- Contraceptive Drugs
- Market Analysis, Insights and Forecast – By Gender
- Male
- Female
- Market Analysis, Insights and Forecast – By End User
- Hospital Pharmacy
- Retail Pharmacy
- Online Channel
- Public Channel & NGOs
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Contraceptives Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast -Â By Product
- Contraceptive Drugs
- Oral
- Injectable
- Patches
- Contraceptive Devices
- Male Contraceptive Devices
- Female Contraceptive Devices
- Contraceptive Drugs
- Market Analysis, Insights and Forecast - Â By Gender
- Male
- Female
- Market Analysis, Insights and Forecast – By End User
- Hospital Pharmacy
- Retail Pharmacy
- Online Channel
- Public Channel & NGOs
- Clinics
- Others
- Market Analysis, Insights and Forecast -Â By Country
- U.S.
- Canada
- Europe Contraceptives Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast -Â By Product
- Contraceptive Drugs
- Oral
- Injectable
- Patches
- Contraceptive Devices
- Male Contraceptive Devices
- Female Contraceptive Devices
- Contraceptive Drugs
- Market Analysis, Insights and Forecast -Â By Gender
- Male
- Female
- Market Analysis, Insights and Forecast – By End User
- Hospital Pharmacy
- Retail Pharmacy
- Online Channel
- Public Channel & NGOs
- Clinics
- Others
- Market Analysis, Insights and Forecast -Â By Country/Sub Region
- U.K.
- Germany
- France
- Spain
- Italy
- Scandinavia
- Rest of Europe
TOC Continued…..
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