Contraceptives Market is expected to reach US$ 29,629.4 million by 2028

Condoms Segment to Hold Major Contraceptives Market Share During 2021–2028

According to our new research study on "Contraceptives Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, End User, and Distribution Channel" the market was valued at US$ 20,825.0 million in 2020 and is expected to reach US$ 29,629.4 million by 2028; it is estimated to record a CAGR of 4.6% from 2021 to 2028. The report highlights the trends and drivers prevailing in the market.

Contraceptives prevent pregnancy by preventing sperm from entering the uterus. It is more commonly known as the birth control method used to avoid pregnancy. Various contraceptive methods are available in the market, such as male condoms, female condoms, IUDs, vaginal rings, diaphragms, and contraceptive sponges. However, condoms are the only contraceptive product that prevents sexually transmitted infections (STI). One of the market's primary drivers is the need to avoid unwanted pregnancies, particularly in teenage women. Also, rising government efforts to promote family planning and prevent unwanted pregnancy is contributing to the growth of the market.

Contraceptives Market , by Region, 2019 (%)

A few of the recent product launches are mentioned below:

• In January 2021, Teva Pharmaceuticals USA, Inc. launched a generic version of NuvaRing1 (etonogestrel and Ethinyl estradiol vaginal ring) in the US. It is an estrogen/progestin combination meant for use by women to prevent pregnancy.
• In July 2020, TherapeuticsMD and Nurx came into an arrangement to expand access to ANNOVERA, a vaginal ring that is the first long-lasting birth control method approved by the FDA. TherapeuticsMD is an innovative women’s healthcare company, while Nurx is the largest online practice for women’s health, and through this expanded access, it is likely to address the needs of its 300,000 patients across the US.

Factors contributing to the high share of unintended pregnancies across the world include side effects of birth control pills, lack of effective and more desirable methods, and requirement of medical procedures in case of implants and IUDs. The increasing research activities to develop innovative contraceptive products are driving the growth of the contraceptive market. For instance, two male contraception methods and a once-a-month birth control pill for women are currently in clinical trials. A research team at the Massachusetts Institute of Technology has developed an oral contraceptive that releases levonorgestrel slowly into the stomach, and it has been observed to be effective in maintaining a sufficient hormone level in the blood, when taken in as one pill a day. The pharmaceutical giant, Bayer is engaged in the development of a hormone-free monthly contraceptive—in partnership with Daré Bioscience, a biotech company. It is a ring-shaped device that is inserted into the vagina, providing contraception over three weeks. In 2018, the US Food and Drug Administration (FDA) approved Annovera, a long-lasting vaginal ring. The ring is effective for up to one year and requires removal during menstruation each month. Constant advancements in products and the launch of generic products further drive the growth of the contraceptives market

Based on product, the contraceptives market is segmented into condoms, intrauterine product (IUDs), vaginal rings, implants, patches, diaphragms, emergency contraceptives, sponges, and others. The condoms segment held the largest share of the market in 2020, whereas the intrauterine product (IUDs) segment is anticipated to register the highest CAGR in the market during the forecast period. Rising awareness about STDs and HIV has led to an increase in the usage of condoms globally. Currently, both male and female condoms are commercially available. Condoms reduce the risk of gonorrhea, chlamydia, trichomoniasis, hepatitis B, and HIV/AIDS. Male condoms are 98% effective, and around 12% of women will still get pregnant because the condoms are not used properly. Female condoms are 95% effective, and about 20% of women will even get pregnant because the condom is not used correctly. Increasing product launches and growing awareness through government initiatives drive the adoption of condoms in the forecast period.

Impact of COVID-19 Pandemic on Contraceptives Market

COVID-19 impacted the contraceptive market significantly. For instance, the article titled "Did COVID-19 Impact Contraceptive Uptake? Evidence from Senegal, West Africa" published in Studies in Family Planning in April 2022, stated that during the first wave of COVID-19 in March 2020, there was an immediate decrease in the number of new acceptors overall, and for new users of implants and injectables and oral contraceptive pills (OCPs). The overall trend in monthly new family planning acceptors increased from March – December 2020. Hence COVID-19 had an adverse impact in the beginning, but as the situation worldwide normalized, the hormonal contraceptive market started to pace up.

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 among the several players engaged in addressing the growing demands for contraceptives. 

The report segments the Contraceptives Market as follows:

Based on product, the contraceptives market is segmented into condoms, intrauterine product (IUDs), vaginal rings, implants, patches, diaphragms, emergency contraceptives, sponges, and others. Based on end user, is segmented into home care, and hospitals and clinics. Based on distribution channel, the market is segmented into retail pharmacy, online pharmacy, and hospital pharmacy. Based on geography, the contraceptives market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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