Global Contraceptive Market Set for Significant Growth, Projected to Reach USD 33.79 Billion by 2034

Posted on 2024-09-08 by Future Market Insights in Healthcare // 0 Comments

The global contraceptive market is poised for substantial growth, with market projections forecasting an increase from USD 19.79 billion in 2024 to a remarkable USD 33.79 billion by 2034. This represents a strong compound annual growth rate (CAGR) of 5.5% over the next decade, driven by evolving consumer needs, technological advancements in contraception, and growing awareness of reproductive health.

Contraception, which encompasses a range of drugs and devices designed to prevent pregnancy, is witnessing accelerated adoption worldwide. Key factors fueling this expansion include heightened awareness of modern contraceptive methods, increasing emphasis on family planning, and greater access to education. Moreover, health-related concerns and the growing recognition of the importance of reproductive health are further driving the demand for contraceptive solutions.

As more individuals and couples prioritize informed family planning, the market is expected to continue its upward trend, with innovations in contraceptive technology playing a pivotal role in this growth. The ongoing efforts to improve access to contraceptive options, particularly in developing regions, are also anticipated to contribute significantly to market expansion.

With the global population continuing to rise and the need for effective family planning becoming more critical, the contraceptive market is set to play an increasingly vital role in global healthcare.

Key Takeaways: Contraceptive Market

The global contraceptive market is projected to grow significantly from 2024 to 2034, driven by factors such as increasing sexual activity, rising awareness about sexual health, and government initiatives.
The United States, China, Germany, India, Australia, and New Zealand are key markets with varying growth rates and market dynamics.

Market Drivers:

Increasing sexually transmitted diseases (STDs): Driving demand for contraception as a preventive measure.
Government initiatives: Supporting family planning and contraception access, particularly in countries like India.
Population growth: Especially in countries like India, leading to increased demand for family planning solutions.
Women’s empowerment and education: Contributing to increased contraceptive use and awareness.
Technological advancements: Driving innovation in contraceptive methods and delivery.

Market Challenges:

Lack of comprehensive sex education: Particularly in the United States, hindering contraceptive use and contributing to higher teen pregnancy rates.
Access to contraception: Challenges in certain regions due to factors such as cost, availability, and cultural barriers.

Regional Insights:

United States: Market growth hindered by abstinence-only sex education, but potential for growth with increased access to comprehensive sex education.
Germany: Strong contraceptive market due to public health insurance coverage, accessible information, and government support.
China: Rapid market expansion driven by increasing awareness, women’s employment, and government policies.
Australia and New Zealand: Market growth driven by rising STD rates and government initiatives, but impacted by the pandemic.
India: Significant market potential due to population growth and government focus on family planning.

Explore the Growing Demand for Contraceptive Market: Get All the Insights in Our Comprehensive Report!

Key Companies:

Bayer AG Pfizer Inc.
Janssen Global Services, LLC
Teva Pharmaceutical Industries Ltd.
Merck & Co., Inc.
Mylan N.V.
Allergan Plc.
Reckitt Benckiser Group plc.
Veru Inc.
Church & Dwight Co., Inc.
Medisafe Distribution Inc.
Cooper Surgical, Inc.
Mayer Laboratories, Inc.
Pfizer Inc.
The Female Health Company
Exeltis USA, Inc.

Recent Developments in the Contraceptive Market:

In December 2023, United Kingdom’s researchers started trials for a non-hormonal male birth control pill, YCT-529, developed by Quotient Sciences. The trial involves 16 British men, aiming to shift the burden of preventing unwanted pregnancies from women to men. YCT-529 blocks access to vitamin A, preventing infertility.
In December 2023, Aditxt acquired Evofem Biosciences, creator of the first hormone-free contraceptive gel, Phexxi, under a definitive agreement focusing on health innovations and women’s health.
In October 2023, the Indian Council of Medical Research (ICMR) completed clinical trials for the world’s first injectable male contraceptive, demonstrating its safety and efficacy without serious side effects.

Key Segments:

By Product:

Drugs
- Oral Contraceptive Pills
- Injectable Contraceptive
- Topical Contraceptive
Devices
- Condoms
- Diaphragms
- Contraceptive Sponges
- Vaginal Rings
- Cervical Cap
- Subdermal Implants
- Intra-uterine Devices
  - Copper
  - Hormonal

By Gender:

Female
Male

By End User:

Institutional Sales
- Hospitals
- Specialty Clinics
Retail Sales
- Retail Pharmacy
- Drug Stores
- Supermarkets or Hypermarkets
Online Sales

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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