Contraceptives Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2025

Rise in Unwanted Pregnancies to Spur Contraceptives Market, Poised to Register Downturn due to COVID-19 Pandemic

Most unwanted pregnancies occur among adolescents and young women. Such pregnancies are a major source of the prevalence of sexually transmitted diseases (STDs) such as HIV, chlamydia, genital herpes and hepatitis B. With this ever-increasing risk, there is a rise in awareness about modern contraceptives. Governments across the world have heavily invested in family planning and sex education programs to spread awareness about the dangers of STDs.

On the back of these trends, the global contraceptives market is set to receive an uptick in the near future. A robust 6.4% CAGR is predicted for the contraceptives market during the forecast period (2020-2025). The market shall surpass a valuation of US$ 37,242.7 Mn by the end of 2025. Other trends, notably the introduction of new, innovative and low cost contraceptive devices by key market players is also expected to significantly leverage the contraceptives market. For instance, Agile Therapeutics is performing a stage 3 trial for Twirla, a contraceptive patch designed to deliver a low daily dose of estrogen.

The COVID-19 pandemic is poised to bring about a downturn in the sales of contraceptives, owing to social distancing and limited physical contact among young people. The global supply of external physical barriers such as condoms shall experience a drop, owing to tighter border restrictions regarding import and export of products and reduced production.

Contraceptive Devices to Acquire Maximum Market Share

The contraceptive devices segment shall contribute to the maximum growth of the contraceptives market. Contraceptive devices are projected to capture more than half of the global contraceptives market during the forecast period. This is attributed to the major side effects of ingesting contraceptive drugs, particularly among women. These include nausea, headache, weight gain, increased bleeding, dysmenorrhea and menstrual changes. Moreover, the introduction of custom-fit condoms by key market players is expected to burgeon the segment’s market share. Projected CAGR for the contraceptive devices segment is pegged at 6.6% during the forecast period.

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North America to Remain Kingpin, Asia-Pacific Expanding Healthily

North America is anticipated to dominate the contraceptives market, in the wake of growing prevalence of unintended pregnancies, rising demand for reversible contraceptives and public sector initiatives to provide funding for family planning and contraception. The region is expected to surpass a valuation of US$ 12,987.4 by 2025. Projected CAGR for the same is pegged at 6.6% during the forecast period.

Asia-Pacific is emerging as a burgeoning market for contraceptives. High incidence of the spread of STDs due to a rapidly expanding population is a key motivator for the expansion of the contraceptives market. Realizing this, governments across the region have initiated awareness campaigns on contraceptives in rural and urban areas. The contraceptives market in the Asia-Pacific is projected to surpass a value of US$ 7,925.7 by the end of 2025, expanding at a CAGR of 6.8%.

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Product Research & Development Key Growth Levers of Companies

The global contraceptives market is highly fragmented. Major market players such as Allergen, plc, Pfizer, Inc, Teva Pharmaceutical Industries Ltd., Bayer AG and Janssen Pharmaceutical Company account for half of the total market share. The companies primarily concentrate on product launches in order to broaden their market footprint. Pfizer Inc’s Sayana Press, for instance, is the first injectable contraceptive for women available in the U.K. The company is also in the process of conducting a study evaluating levonorgestrel and ethinyl estradiol as potential oral contraceptives.

Merck & Co, Inc., offers contraceptive care in the form of combined oral pills, vaginal rings, intrauterine devices and sub-dermal implants. Popular products include Cyclessa, Desogen, NuvaRing, Implanon and Nexplanon. Another important player, Cipla, manufactures oral contraceptives named Crisanta. The medicine contains Drospirenone which prevents the fertilization of the egg with the sperm. It also induces hormonal changes contributing to the prevention of pregnancy.

COVID-19 Market Insights:

The outbreak of the novel coronavirus respiratory disease, or COVID-19, has affected millions globally. As the risk of infections grows exponentially, countries are taking heavy precautionary measures to contain the spread of the deadly virus. With people practicing social distancing, physical contact of any kind, be it handshakes, hugs, kisses or sexual intercourse has been significantly restricted. This is anticipated to significantly impact the sales of contraceptive devices during the forecast period. Physical barriers, especially condoms, are anticipated to witness a downturn, owing to shutting down of several production units. In Asia, several Chinese factories were shuttered when the pandemic initially broke out and workers were forced to stay home in order to contain the spread of the infection. Since most condom manufacturers are situated in Asia, the global supply of the physical contraceptive barrier shall be disrupted.

The closing of international borders in the wake of the pandemic has limited delivery flows of contraceptives, essential maternal health medicines and antiretroviral drugs. Fortunately, the healthcare industry has recognized this and key players are bolstering efforts to stave off the negative impact of supply-chain disruptions in the global contraceptives market. The UN Population Fund (UNFPA), in its interim technical brief in March 2020, advocated governments to promote public and private partnership to mobilize the private sector to enhance supplies of sanitary items and medical equipment and redouble efforts to ensure the procurement, provision, appropriate administration and in-country distribution of required sexual and reproductive health products (SRH), continue investing in reproductive and sexual health supply chain and protective clothing for clinical management of COVID-19.