Contraceptive Market to Reach USD 53.96 Billion by 2031.

InsightAce Analytics Pvt. Ltd. announces the release of a market assessment report on the "Global Contraceptive Market (By Product (Contraceptive Devices (Condoms (Male, Female), Diaphragms, Contraceptive Sponges, Vaginal Rings, Subdermal Implants And Intra-Uterine Devices (Copper, Hormonal).), Contraceptive Drugs (Oral Contraceptive Pills, Injectable Contraceptives And Topical Contraceptives)))- Market Outlook And Industry Analysis 2031"

The global contraceptive market is estimated to reach over USD 53.96 billion by 2030, exhibiting a CAGR of 7.68% during the forecast period.

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Contraception is defined as any technique, medication, or contraceptive device used to prevent pregnancy. Contraceptives are hormonal preparations that may contain estrogen and progestin in combination or just progestin. The market growth is anticipated to be driven by the rising incidence of Sexually Transmitted Diseases (STDs) and the rising number of women with unmet needs for contraceptive medications & devices. During the projection period, it is projected that the introduction of programs aimed at lowering unintended pregnancies and the associated healthcare expenses, as well as raising user awareness levels, will fuel market growth. The rise in unwanted pregnancies is anticipated to aid the market's expansion throughout the projected year. Short-acting resupply contraceptive techniques, including condoms and contraceptive tablets, are predominantly used by the private sector, which has seized and kept a comparatively consistent proportion of the industry. To increase youth awareness and encourage the use of contraceptives to prevent STDs and unintended pregnancies, governments in many different nations have been running large campaigns and sex education programs. The rise in awareness of sexual health and family planning among young people and the increased use of modern contraception are two major factors influencing the market's expansion. Additionally, government initiatives have increased access to contraceptives that prevent teenage pregnancies without consent.

List of Prominent Players in the Contraceptive Market:
• Bayer AG
• China Resources Zizhu Pharmaceutical Co., Ltd. (CR Zizhu)
• Cupid Ltd
• Helm AG
• Organon Group Of Companies
• Pfizer Inc.
• Viatris (Mylan)
• Abbvie, Inc
• Afaxys, Inc.
• Agile Therapeutics
• Janssen Pharmaceuticals, Inc
• Veru, Inc.

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Market Dynamics:
Drivers-
The increase in contraception use has improved mother and infant mortality while lowering the risk of sexually transmitted illnesses. The industry will expand in the coming years due to an increase in gynaecologists favouring these contraceptives for birth control. Adopting safe and effective oral tablets, increased awareness of modern contraceptives, and health issues linked to teenage pregnancies contribute to the market's rise. Furthermore, in the past ten years, there has been a dramatic improvement in the acceptance of long-acting reversible contraceptives. During the forecast period, vaginal rings, injectables, and intrauterine devices are all anticipated to increase sustainably. Longer product lives and cost-effectiveness are the market's driving forces.

Challenges:
Birth control pill use over an extended period is associated with side effects such as bleeding, headaches, nausea, and weight gain. Numerous studies have highlighted birth control tablets' long-term harmful consequences. Anxiety over using these long-term contraceptive tablets results from a lack of understanding, hindering the market growth. Additionally, in less developed nations, the social stigma associated with using contraception methods and the high price of these methods and pills are to blame for the poor uptake and acceptability of these methods, which are the main restraint of the market's expansion.

Regional Trends:
The North American contraceptive market is expected to register a significant market share. An increase in governmental activities, a rise in population control demands, and a decline in the prevalence of unplanned pregnancies explain the growth. One of the biggest sellers and buyers of contraceptives, the US government supports global FP/RH initiatives. The introduction of new products and the simplicity of vaginal rings are two factors that are anticipated to boost demand for these birth control options in this area. Besides, Asia Pacific had a substantial share of the contraceptive market. Due to the presence of numerous businesses, the local market is very competitive. Most companies are engaging in strategic efforts, such as investing in R&D, to create novel products and gain an advantage over rivals.

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Recent Developments:
• In Nov 2022, Bayer announced receiving a grant from the Bill & Melinda Gates Foundation. As part of the funding, Bayer and the Bill & Melinda Gates Foundation have each committed more than $12 million over four years to co-fund pre-clinical research efforts to offer non-hormonal contraceptive options to women worldwide. In addition to co-funding research over a four-year period, Bayer will utilise its women's healthcare and research and development expertise to find a pre-clinical development candidate.

Segmentation of Contraceptive Market-
By Products
• Contraceptive Drugs
o Contraceptive Pills
o Patch
o Injectables
• Contraceptive Devices
o Condoms
 Male Condoms
 Female Condoms
o Subdermal Implants
o IUDs
 Copper IUDs
 Hormonal IUDs
• Vaginal Rings
• Diaphragm
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.