Contraceptives Market Overview:
According to the Guttmacher Institute Organization, an estimated 44% of pregnancies globally were unintended and 56% of unwanted pregnancies ended in abortion at the initial phase of this decade.[1] Such peculiar cases amalgamated with increasing instances of sexually transmitted diseases (STIs) are significantly boosting the contraceptives market. As per the WHO, more than 1 million STIs are acquired every day globally, and 988,000 pregnant women were infected with syphilis (a form of STI) in 2016, resulting in over 200,000 stillbirths and newborn deaths.[2] All these factors coupled with rapidly increasing global population and governmental measures to counter population tumor are propelling contraceptives market growth. The global contraceptives market is estimated to be around $20 billion-$21 billion as of 2018. Increasing awareness among women in developed as well as rural areas of developing countries such as India and Africa regarding HIV, STIs, fertility control and birth-control is propelling this arcade to be progressing at a CAGR of 6%-7% during the forecast period of 2019-2025.
Contraceptives Market Outlook:
Contraception can be defined as the deliberate inhibition of pregnancy by interfering with the biological process of ovulation, fertilization and implantation through the use of barriers, drugs, medical devices or surgical techniques and the devices used for contraception are called as contraceptives. Contraceptives drugs or devices not only inhibit pregnancy but also sexually transmitted diseases (STDs).
In the products segment of the contraceptive market, Intrauterine Devices (IUD) secures the dominant spot and is progressing with an application CAGR of 30% - 35% going through 2025. Its supremacy above several other wide ranges of devices such as contraceptive sponges, vaginal rings, contraceptive diaphragms, subdermal implants, male condoms and female condoms can be attributed to its efficacy in prevention of unwanted pregnancies. According to the findings of the American Pregnancy Association, the intrauterine system has a failure rate of less than 1%.[3]
After an acute region-wise analysis of the global contraceptive market, North America is detected to be the dominant region. This region is responsible for nearly 28% - 30% of the global contraceptives market demand. With more than 50% of the population dominated by women, the United States is the most lucrative marketplace for contraceptives in North America. Also, United States median age is recorded to be around 37 years[4], thus indicating half of the population to be young and sexually active (below 37 years) and major consumers of contraceptives drugs and devices.
Contraceptives Market Growth Drivers and Trends:
A huge chunk of the female population in developing countries are diverting towards ideology such as women empowerment and feminism to establish educational and professional opportunities for women. An increasing number of women are delaying motherhood with the help of contraceptive devices and drugs as they prioritize their careers. Women comprised 47 percent of the total U.S. labor force at the initial phase of this decade. This is a major trend disrupting the global contraceptives market. Such assertions can meet confirmation with facts from the United States Department of Labor stating that 57% of women participate in the labor force and 26% of professionals employed computer and mathematical occupations are women.[5] Women are projected to account for 51 percent of the increase in total labor force growth between 2008 and 2018.[6]
Severe government regulations to control alarming population growth in some densely populated economies are serving as a major trend for the contraceptives market. An example can be derived from APAC, China. The family planning policy in China by the government allows only two children per couple since 2016. Enforcement requires women to have a contraceptive intrauterine device (IUD) surgically installed after having a first child, and to be sterilized by tubal ligation after having a second child. Thus nearly 667 million women in China are inevitably potential customers for the contraceptives market.
Contraceptives Market Challenges:
Lack of awareness and acceptance of contraceptives are the major factors hindering the market growth coupled with continuous and expensive necessary cycles for effective birth control. Hormonal contraceptives contain hormones such as estrogen and progestin, with side effects such as weight gain, headaches, sore breasts, irregular periods, mood changes, acne, and nausea.
Contraceptives Market Players Perspective:
Some of the major players controlling majority of the global market share are Cooper Surgical, Inc. (U.S.), Pfizer, Inc. (U.S.), Actavis, Inc. (U.S.), Teva Pharmaceutical Industries Limited (Israel), Bayer AG (Germany), The Female Health Company (U.S.), Merck & Co., Inc. (U.S.), Mayer Laboratories, Inc. (U.S.), Church & Dwight, Co., Inc. (U.S.), and Medisafe Distribution Inc. (Canada).
Teva Pharmaceutical Industries Limited is one of the leading manufacturing establishment pertaining to contraceptives. It acquired Theramex and related companies from Merck Serono. As Theramex offers a wide variety of women's health products sold in 50 countries worldwide, this merger will open up more avenues for profits and revenue.
Contraceptives Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Contraceptives Market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the various drugs and devices in Contraceptives Market and their specific biological uses.
Contraceptives Market Report: Industry Coverage
By Product: Drug, Devices
By End-User: Hospital, Clinic, Home Care, Ambulatory Surgical Centre
The Contraceptives Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia
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