Contraceptive Devices Market: By Product Type (Male Contraceptive Devices, Female Contraceptive Devices, Female Condoms, Diaphragms & Sponges, Vaginal Rings, Intrauterine Devices, Sub-dermal Implants, Others), By Technology (Hormonal Contraceptives, Barrier Contraceptives), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channels, Public Channel & NGO, Others), And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
Global Contraceptive Devices Market to surpass USD 34.3 billion by 2031 from USD 18.4 billion in 2021 at a CAGR of 6.4% in the coming years, i.e., 2021-2031.
A method or equipment used to prevent pregnancy is known as birth control, sometimes known as contraception, fertility control, or anti-conception. Sterilization through vasectomy in males and tubal ligation in females, implanted birth control, and intrauterine devices are the most effective methods of birth control (IUDs). Some cultures prohibit or restrict access to birth control as it is morally, religiously, or politically objectionable to them. The phrase "birth control" is a bit of a misnomer as it does not usually include abortion.
Global Contraceptive Devices Market to surpass USD 34.3 billion by 2031 from USD 18.4 billion in 2021 at a CAGR of 6.4% in the coming years, i.e., 2021-2031. Strong government promotions and programs for women's and children's health can be attributed to factors such as the increased use of contraceptive devices. Government involvement in promoting family planning and contraception, particularly in developing countries, is a crucial element driving the global contraceptive devices industry. Growing contraception awareness and the availability of effective contraception options are also key factors in country pregnancy and birth rates.
Based on Technology, the global Contraceptive Devices Market is fragmented into Hormonal Contraceptives, and Barrier Contraceptives. Hormonal contraceptives and barrier contraceptives make up the worldwide contraceptive devices market. Hormonal contraceptives have been anticipated to lead the market in terms of revenue in recent years, and this trend is expected to continue in the future due to increased preference and efficiency.
Global Contraceptive Devices Market is classified on the basis of Distribution Channel into Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channels, Public Channel & NGO, and Others. Owing to the increased use of implantable contraceptive devices by healthcare professionals and active government backing for contraceptive distribution through government-assisted hospitals around the world, hospital pharmacies are a key source of contraceptive devices. The market for contraceptives is predicted to rise significantly in the next years due to rising demand.
Growing focus on the need for family planning and avoiding unwanted pregnancy
The market is growing as people become more aware of the importance of family planning and preventing unplanned pregnancies. Furthermore, the market is driven by an increase in the use of contraceptives among young women and a rise in educational attainment. Furthermore, the rise in usage of oral tablets as a crucial technique to avoid unwanted pregnancy, as well as health risks linked with teenage pregnancies, are driving the contraceptive devices market expansion.
Rising awareness about the contraceptive products
The global contraceptive market is growing due to the high absorption rate, increased participation of reproductive women in the workforce, and increased population awareness of contraceptive products. Furthermore, rising disposable income in developing nations such as India, Africa, Brazil, and others, which leads to increased contraceptive product adoption, propels the global contraceptive devices market forward.
Side effects associated with the Contraceptive Devices
The market's growth is projected to be hampered by contraceptive device adverse effects. In addition, increased rates of infertility are expected to stymie the expansion of the contraceptive devices market throughout the forecast period.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Contraceptive Devices Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America leads the contraceptive device industry owing to the surge in the frequency of STDs. Furthermore, throughout the projected period, an increase in the adoption rate of contraceptive devices will fuel the growth of the contraceptive devices market in the region. Due to rising awareness, Asia-Pacific is expected to see considerable growth in the contraceptive device industry. Furthermore, the rise in government initiatives is expected to fuel the growth of the contraceptive devices market in the area over the forecast period in the future years. n the time frame that has been set.
The COVID-19 pandemic, compelled many worldwide companies in the contraceptives industry to temporarily suspend operations in order to comply with new government rules aimed at preventing the disease's spread. This suspension in operations has a direct influence on the worldwide contraceptive devices market's revenue flow. Furthermore, due to a lack of raw materials and people, the manufacturing of industrial items came to a halt. During the COVID-19 epidemic, lockdowns were imposed.
Market size value in 2021
USD 18.4 billion
Revenue forecast in 2031
USD 34.3 billion
CAGR of 6.4% from 2021 to 2031
Base year for estimation
Revenue in USD million and CAGR from 2021 to 2031
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product Type, Technology, Distribution Channel, and Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
Bayer AG, Pfizer Inc., Janssen Global Services, LLC, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Mylan N.V., Allergan Reckitt Benckiser Group plc, Veru Inc., Church & Dwight Co., Inc., Medisafe Distribution Inc., and Other players.
The Contraceptive Devices Market size was estimated at USD 18.4 billion in 2021 and is expected to reach USD 34.3 billion in 2031.
Contraception is a method of preventing pregnancy using drugs or a device. It is also known as birth control and fertility control. The devices or drugs used in contraception interfere with the normal process of sperm-ovum fertilization to prevent pregnancy.
The Hormonal Contraceptives segment accounted for the largest Contraceptive Devices Market share.
Key players in the Contraceptive Devices Market include Bayer AG, Pfizer Inc., Janssen Global Services, LLC, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Mylan N.V., Allergan Reckitt Benckiser Group plc, Veru Inc., Church & Dwight Co., Inc., Medisafe Distribution Inc., and Other players
The rising focus on the need for family planning and avoiding unwanted pregnancy is fuelling the market growth.
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