Contraceptives Market to surpass USD 4.96 billion by 2030

Contraceptives Market to surpass USD 4.96 billion by 2030
Contraceptives Market Report Scope :
The SNS Insider report indicates that the Contraceptives Market was valued at USD 1.08 billion in 2022, and is expected to reach market size of USD 4.96 billion by 2030, with a compound annual growth rate (CAGR) of 35% expected over the forecast period from 2023 to 2030.
There is a high degree of fragmentation on the global contraceptive market, with an increasing number of foreign and local players involved. Since there is a lack of awareness about the advantages of contraceptives in developing economies, market stakeholders should initiate collaborative agreements with governments to educate women as well as related individuals about different alternatives. To increase their uptake in developing economies, manufacturers should step up the production of low-cost options for contraception.

Key Players :
-Bayer Ag
-Pfizer, Inc
-Cooper Companies
-Ansell Ltd
-Mayer Laboratories
-Merck &CO
-Vera
-And many others

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Market Opportunities :
Oral contraceptives are highly used after by young people in developing nations. The high number of governments sponsored programs and the free provision of contraceptives in rural and urban areas will boost growth in the sale and wide use of these pills in the market. In addition to the growing challenges that are related with teenage pregnancies, growing knowledge of modern contraception and the issue of unplanned pregnancies will continue to further push the market for oral pills.

Segmentation Analysis :
Based on products, the global industry has been segmented into contraceptive drugs and contraceptive devices. The contraceptive devices sector accounted for the largest revenue share of more than 65.66% in 2022, which is expected to grow at a compound annual growth rate of 7.12% during the forecast period. This is attributed to an increase in the awareness level of STDs and the efficiency of condoms to prevent infections, including HIV. In a recent study, subdermal implants have been identified to have an immense potential to meet the requirement of women for family planning.
The retail pharmacies segment is expected to have the highest market share during the forecast period on the basis of the distribution channel. The improvement in the supply chain network of manufacturers is a reason for this. Furthermore, due to the collaboration of hospitals with distributors and manufacturers in particular for birth control devices, hospital pharmacies are also expected to experience significant growth rates over the next few years.

Key Market Segmentations :
By Product Type:
-Drugs
-Devices

By Age Group:
-15-44
-Above 44

By End User:
-Households
-Hospitals
-Clinics

Key Regional Development :
North America dominated the global industry in 2022 with the maximum revenue share of more than 33.1% and is expected to maintain its position throughout the forecast period owing to the high incidence of abortion, rising population of women within the age group of 15-44 years, and high patient awareness levels in the region. The launch of generic and low-cost drugs and devices has also led to an increase in the demand for contraceptives by teenagers. A new category of condoms, Intense, was launched by Reckitt Benckiser in April 2022.
Asia Pacific is expected to grow at a faster rate than any other region during the forecast period, The increase can be attributed to a growing number of government initiatives, a growing demand for population control, and a decrease in unintended pregnancies. According to the Center for Reproductive Rights, around 53.8 million unintended pregnancies occur every year in Asia, and around 65% of those are abortion cases.

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Key Takeaway from Contraceptives Market Study :
An overview of the portfolio, such as product planning, development and positioning is provided and the role of technology firms in partnerships.
Analyse market size and provide forecasts for current and forthcoming contraceptive products during the forecast period. To analyse the competition factors, competitors' market shares, product capabilities and supply chain structures.

Recent Development Related to Contraceptives Market :
In January 2023, FemCare Pharmaceuticals, a leading contraceptive company, launched a revolutionary hormonal patch that provides a convenient and discreet contraceptive option for women. The patch delivers a controlled dose of hormones to prevent pregnancy and offers increased flexibility in birth control choices.
In April 2023, LunaHealth, a renowned medical device manufacturer, unveiled an advanced intrauterine device (IUD) that combines contraceptive effectiveness with enhanced comfort. The new IUD design incorporates innovative materials and features to minimize discomfort during insertion and use, providing women with a reliable and user-friendly birth control solution.

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Table of Contents
1.Introduction
2.Research Methodology
3.Market Dynamics
4.Impact Analysis
5.Value Chain Analysis
6.Porter's 5 forces model
7.PEST Analysis
8.Contraceptives Market Segmentation, by  productivity Type
9.Contraceptives Market Segmentation, by  age group
10.Contraceptives Market Segmentation, by End User
11.Regional Analysis
12.Company Profile
13.Competitive Landscape
14.Use Cases And Best Practices
15.Conclusion

Akash Anand - Head of Business Development & Strategy,
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND),
info @ snsinsider.com,
Website : https://www.snsinsider.com/

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This release was published on openPR.