Contraceptives Drugs And Devices Market Revenue, Growth Rate, Customer Needs, Trend, Manufacturers, and Forecast to 2026

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Contraceptive drugs and devices that aid to control birth rate and unintended pregnancies are subject to unique regulatory challenges across different countries. For instance, contraceptive drugs and devices face reimbursement challenges in the U.S., while contraceptive pills face advertising restrictions in India. Owing to this, contraceptives preference greatly various across countries. Statistics revealed by the United Nations in 2015, highlight this trends, with a particular contraceptive accounting for over 50% share across 45 countries considered in the study. Sterilization is a dominant contraceptive method in regions such as Asia, North America, and Latin America as per the study. Intra-uterine devices (IUDs), vaginal rings, injectables, implants, combined oral contraceptives, and patches are some of the more advanced contraceptive methods available in the market. Introduction of new male contraceptive products with high success rate are projected to shape the course of growth of the market in the near future.

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Factors impacting the contraceptive drugs and devices market in different regions:

Implementation of the stringent two-child policy in China since 2016, is a major factor driving demand for contraceptives in the country

Societal stigma impacting the demand for contraceptives negatively in Asia and Africa

Government programs encouraging the use of selected contraceptives affecting the market for other products (Indian government provides incentives for sterilization and distributes free condoms, while the U.S. Affordable Care Act emphasizes on complete insurance coverage for long-acting reversible contraceptives (LARC)

The global contraceptive drugs and devices market was valued at US$ 18,273.2 million in 2015 and is expected to expand at a CAGR of 7.8% during the forecast period (2016 – 2024).

Market Dynamics

Use of contraceptives is low in emerging economies especially in Africa, according to report ‘Trends in Contraceptive Use Worldwide 2015’, of the United Nations in 2015. Moreover, WHO estimates that around 225 million women in as of 2015, emerging economies who would like to delay their pregnancy are not using any contraception method. The impact of this is realized through the number of abortions carried out each year, with around 21.6 million unsafe abortions reported annually. Around 85% of these are reported in emerging economies in Africa and Asia, as per estimates of WHO (2016). Increasing awareness among the population through government initiatives and increasing accessibility to various contraceptive devices and drugs are expected to propel growth of contraceptive drugs and devices market in the near future.

The demand for advanced contraceptive options such as IUD, injectables, combined oral pills and diaphragms is observed to be high globally. This is owing to growing awareness among the populace, availability of reimbursement and growing demand for long term contraceptive methods.

Key companies covered as a part of this study include Teva Pharmaceutical Industries Ltd., Church & Dwight Co. Inc., Reckitt Benckiser Plc, Pfizer, Inc., Bayer AG, Mayer Laboratories, Inc., The Female Health Company, Cooper Surgical, Inc., Allergan plc, Cipla Limited, and Merck & Co. Inc.

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About Author

Cynthia Carrier is a graduate of Texas A&M, where she played volleyball and annoyed a lot of professors. Now as Plains Gazette's entertainment and Lifestyle Editor, she enjoys writing about delicious BBQ, outrageous style trends and all things Texas.