Drivers of growth in the contraceptives market

The contraceptives market was estimated at US$ 27.1 billion in 2021 and is expected to grow at a CAGR of 6.18% during 2022-2028 to reach US$ ~50.9 billion in 2028.

The global contraceptives market is expected to continue to grow in the future, driven by several factors. One of the key drivers of growth is the increasing demand for family planning services, particularly in developing countries. With a growing global population, family planning has become an important issue, and many governments and international organizations are focusing on expanding access to contraceptives. This is expected to drive the growth of the contraceptives market. The contraceptives market was estimated at US$ 27.1 billion in 2021 and is expected to grow at a CAGR of 6.18% during 2022-2028 to reach US$ ~50.9 billion in 2028.

The contraceptives market is experiencing several emerging trends that are shaping its future growth and development. These trends include:

1. Digital Health: The use of digital health technologies, such as mobile health apps, is emerging as a popular way to promote contraceptive use. These apps provide users with personalized and accurate information on contraceptive options, and help them track their menstrual cycles, fertility, and other health-related information.
2. Male Contraceptives: There is growing interest in developing new and effective male contraceptive methods. This is driven by the desire to increase male involvement in family planning and reduce the burden on women. Several male contraceptive methods are currently in development, including hormonal and non-hormonal options.
3. Non-Hormonal Contraceptives: There is increasing demand for non-hormonal contraceptive options due to concerns about the side effects of hormonal contraceptives. Non-hormonal options include barrier methods, such as condoms and diaphragms, as well as copper intrauterine devices (IUDs) and fertility awareness-based methods.
4. Telemedicine: Telemedicine is becoming an increasingly popular way to provide contraceptive services to individuals who may not have access to traditional healthcare facilities. Telemedicine allows individuals to access contraceptive services remotely through video consultations, phone calls, or messaging platforms.
5. Social Media: Social media is being used to promote contraceptive use and raise awareness about family planning. Organizations are using social media platforms to disseminate information on contraceptive options, share personal stories and experiences, and connect individuals with healthcare providers.

These emerging trends are expected to shape the future of the contraceptives market, as they address important issues such as access, effectiveness, and user preferences. The development of new and innovative contraceptive methods and the use of digital technologies are expected to drive growth in the market and improve the overall health and well-being of individuals worldwide.

On the basis of distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and e-commerce. The contraceptives market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Due to the high rate of abortion, growing population of women between the ages of 15 and 44, and high patient awareness levels in the area, North America held the largest revenue share in 2021 and is anticipated to keep this position throughout the forecast period.

Teenagers' desire for contraceptives has increased as a result of the introduction of generic and inexpensive medications and technologies. Reckitt Benckiser introduced Durex Intense, a new condom category, in April 2022. During the forecast period, Asia Pacific is expected to experience the quickest CAGR.

 

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In conclusion, the global contraceptives market is a growing market driven by various factors such as the increasing demand for family planning services, growing awareness about sexually transmitted infections, and technological advancements. However, the market is also facing challenges such as limited access to contraceptives in some regions and anti-contraceptive attitudes and policies.

The future outlook for the contraceptives market is positive, with continued growth expected due to the increasing demand for family planning services and the development of innovative contraceptive products. Additionally, the trend of personalized medicine is expected to have a positive impact on the market, as it enables the development of contraceptives that are tailored to an individual's specific needs.

Key takeaways from the contraceptives market analysis include the importance of expanding access to contraceptives, particularly in developing countries, to improve family planning and prevent unintended pregnancies. Additionally, the development of innovative and effective contraceptive products will continue to drive growth in the market. Finally, it is important for governments, international organizations, and other stakeholders to address challenges such as anti-contraceptive attitudes and policies to ensure that everyone has access to the contraceptives they need.