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Global Contraceptives Market 2024 Opportunity Assessment, Size, Growth Rate And Forecast To 2033

02-23-2024 07:00 AM CET | Health & Medicine

Press release from: The Business research company

Contraceptives Market

Contraceptives Market

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Contraceptives Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The contraceptives market size has grown strongly in recent years. It will grow from $26.2 billion in 2023 to $28.25 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to introduction of the birth control pill, increased awareness and education about contraception, legal and social changes promoting reproductive rights, global population control initiatives, increase in the use of generic and low-cost drugs and devices.

The contraceptives market size is expected to see strong growth in the next few years. It will grow to $38.02 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growing focus on male contraceptives, increased access to contraception in developing countries, integration of digital health technologies in contraception, rising demand for long-acting reversible contraceptives (larcs), growing accessibility to over-the-counter drugs on the online platform. Major trends in the forecast period include technological advancements in contraceptive methods, shift towards non-hormonal and natural contraceptive methods, expansion of over-the-counter access to certain contraceptives, emphasis on user-friendly and discreet contraceptive options, integration of telemedicine in contraceptive counseling and prescriptions.

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Market Segmentation:
The contraceptives market covered in this report is segmented -
1) By Product: Oral Contraceptive Pills, Topical Contraceptives, Injectables, Diaphragms, Vaginal Rings, Condoms, Contraceptive Sponges, Subdermal Implants, Intra-Uterine Devices
2) By Age Group: 15-24 Years, 25-34 Years, 35-44 Years, 44 Years
3) By Distribution Channel: Hospital Pharmacies, Independent Pharmacies, Online Pharmacies, Clinics, Other Distribution Channels

Major Driver - Sexually Transmitted Diseases Surge Driving Demand For Contraceptives In Disease Prevention
The rising frequency of sexually transmitted illnesses or diseases is driving the demand for contraceptives. Sexually transmitted diseases (STDs) are infections spread from one person to another through sexual interaction. The most typical contact occurs during anal, oral, and vaginal intercourse and they can spread through other close physical contact methods. Contraceptives are employed to manage the transmission of sexually transmitted diseases like herpes and HPV, primarily through skin-to-skin contact. For instance, in May 2023, according to the Minnesota Department of Health, a US-based state health agency of the State of Minnesota, primary and secondary syphilis cases climbed 19% in 2022, from 564 in 2021 to 676 in 2022. In 2022, 20 instances of congenital syphilis in babies were recorded. This represents a 42 % rise from 2021 when 14 cases of congenital syphilis were documented. Therefore, the increase in sexually transmitted illnesses or diseases is expected to boost the demand for contraceptives during the forecast period.

Competitive Landscape:
Major companies operating in the contraceptives market report are Merck & Co. Inc., Bayer AG. Inc., Cipla Inc., Reckitt Benckiser Group plc, Agile Therapeutics Inc., Allergan Ltd., Aurobindo Pharma Limited, Famy Care Ltd., Glenmark Pharmaceuticals Limited, HLL Lifecare Limited, Johnson & Johnson, Laboratoire HRA Pharma SAS, Lupin Limited, Mankind Pharma Ltd., Mayer Laboratories Inc., Medisafe Distribution Inc., Mithra Pharmaceuticals SA, Mylan NV, Okamoto Industries Inc., Pfizer Inc., Pregna International Ltd., Syncom Pharmaceuticals, Teva Pharmaceutical Industries Ltd., The Population Council, Veru Inc., Zydus Cadila, Shanghai Dahua Pharmaceutical Co. Ltd., Sichuan Kangdi Pharmaceutical Co. Ltd., Beijing Zhengyuan Pharmaceutical Co. Ltd., Zhejiang Huahai Pharmaceutical Co. Ltd., Chongqing Pharmaceutical Group Co. Ltd.

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Top Trend - Digital Contraception Innovations The Emergence Of Clue Birth Control And Menstrual Cycle Monitoring Technology
Technology advancement is a key trend gaining popularity in the contraceptive market. Digital Contraceptives are the latest trend in the contraceptives market. Digital Contraception is a way of tracking periods online to know which days are riskier for pregnancy. In March 2021, Clue, a Berlin-based femtech company, received FDA approval to market Clue Birth Control, all-digital contraception based on period monitoring data. The birth control function can identify when days are high or low risk for pregnancy by integrating user menstrual cycle data with Clue's prediction algorithm. Users can then adjust their habits to fit their risk tolerance. Clue recommends that users refrain from sex entirely or use another form of contraception, such as condoms, on high-risk days.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Contraceptives Market Characteristics
3. Contraceptives Market Trends And Strategies
4. Contraceptives Market - Macro Economic Scenario
5. Contraceptives Market Size And Growth
…..
27. Contraceptives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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