Contraceptives market size was valued at $26,321.50 million in 2020, and is estimated to reach $50.6 Billion by 2030, growing at a CAGR of 6.5% from 2021 to 2030.ย The use of advanced contraceptive methods and emergency contraceptives methods, especially for teenagers, and increase in awareness regarding sexually transmitted infections (STIs) are the major factors responsible for the growth of the contraceptives market. Increase in popularity of female condoms, custom-fit condoms, and other novel products fuels the demand for contraceptives, especially in developed regions. Furthermore, rise in adoption of modern contraceptives in the developing economies has significantly contributed to the market growth. However, sociocultural influences of contraceptives and side effects, such as infertility resulting from the use of contraception are the major impediments to the market growth.
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The report provides a comprehensive analysis of the key players that operate in the contraceptives market, namely, Veru Inc., Teva Pharmaceutical Industries Limited, Abbvie Inc., Bayer AG, Pfizer, Inc., Cooper Companies, Inc., Ansell LTD., Mayer Laboratories, Merck & Co., Inc., and Church & Dwight, Co., Inc.
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Several manufacturers in the global contraceptives industry stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the contraceptives manufacturing companies. For instance, net sales of Teva Pharmaceuticals Industries Limited dropped by 4.7% from January 2021 to December 2021. In addition, lack of man power and raw materials affected the supply chain of the global contraceptives market. However, the market is projected to cover from the 1st quarter of 2023, due to reduced restrictions and reopening of the global contraceptives industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with a start of 2022.
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On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.ย North America accounted for majority share in the contraceptives market in 2020. This market is expected to maintain its lead during the forecast period due to increase in awareness among the population, upsurge in adoption of modern contraceptives, and rise in prevalence of sexually transmitted diseases such as HIV/AIDS. Contraceptives market forecast from 2020 to 2030.
The U.S. contraceptive market accounts for the largest share in the overall North America contraceptive market. Asia-Pacific region is expected to grow at the fastest pace during the study period, owing to high population base and proactive initiatives of governmental organization for birth control. Moreover, technological advancements and cost-effective contraceptive products in these regions offer lucrative opportunities to contraceptive manufacturers. Initiatives taken by regulatory bodies and government organizations to mandate the use of barrier contraceptives, such as condoms, have significant impact on the growth of the contraceptive market. Contraceptive methods for home use are effective and convenient, owing to the cost-effectiveness of these products. Advancements in contraceptive techniques and launch of awareness programs by government agencies and other regulatory bodies to increase household usage of contraceptives drive the markets in Asia-Pacific and LAMEA regions. Asia-Pacific region has highest contraceptives market size.
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