Contraceptives Market Analysis

Contraceptives Market Analysis

Based on product, the market is categorized into drugs and devices. Devices segment accounted for majority revenue share in 2022 and is expected to expand robustly at 7.3% growth rate over the forecast timeframe. Contraceptive devices offer several benefits that contribute to the overall as well as sexual wellness and reproductive health of individuals.
 

• These devices are highly effective in preventing unintended pregnancies, provide a reliable method of contraception, allowing individuals to have control over their reproductive choices and plan pregnancies according to their personal circumstances.
   
• Contraceptive devices offer a diverse range of options such as condoms, diaphragms, contraceptive sponges, vaginal rings, subdermal implants and intra-uterine devices among others. Devices, such as condoms, provide an additional benefit of protecting against sexually transmitted infections (STIs). IUDs and implants, offer long-lasting contraception that can provide protection for several years, eliminating the need for frequent administration or adherence to daily schedules.
   

Based on age group, the contraceptives market is divided into 15-44 years and above 44 years. The 15-44 years segment accounted for dominating revenue share and was valued at around USD 19.7 billion in 2022. The age group of 15-44 years is generally referred to as the reproductive or childbearing age group. This demographic segment plays a significant role in driving the demand for contraceptives.
 

• Adolescents and young adults often engage in sexual activity, and many are not yet ready to start families due to educational, career, or personal reasons. Contraceptives provide them with a means to prevent unintended pregnancies while they pursue other life goals.
   
• This age group often has better access to healthcare facilities and services, making it easier for them to obtain contraceptives. Contraceptives can offer health benefits beyond family planning, such as reducing the risk of certain health issues like ovarian and endometrial cancers. Many healthcare providers offer contraceptive counseling and services to help individuals make appropriate choices.
   

Based on distribution channel, the contraceptives market is segmented into hospital pharmacies, retail pharmacies, online channels, and other distribution channels. Retail pharmacies segment accounted for leading revenue share in 2022 and is expected to reach over USD 17.6 billion by 2032.
 

• Retail pharmacies are easily accessible to the general population. People can visit their local pharmacies without the need for an appointment, which makes them a convenient source for contraceptives. This accessibility promotes increased usage and drives market demand.
   
• Retail pharmacies can dispense both prescription and over-the-counter contraceptives. This flexibility means that individuals have access to a wide array of contraceptive options, regardless of whether they have a prescription.
   
• Retail pharmacies often run promotions, discounts, and loyalty programs that make contraceptives more affordable and encourage their use. Additionally, some insurance plans cover the cost of prescription contraceptives, and retail pharmacies can process insurance claims, making it easier for individuals to afford contraception.
   

North America region held more than 33% revenue share in 2022 and is expected to witness notable growth to reach over USD 10.8 billion by 2032. This high market share is majorly attributed to increasing awareness of novel contraceptives comprising pills and devices that have resulted in a significant decline in unplanned pregnancies in North America. As per the National Center of Biotechnology Information (NCBI) article, around 1 million abortions are performed each year in the U.S.
 

• Advancements in contraceptive technologies have resulted in the development of more effective, user-friendly, and convenient contraceptive methods.
   
• Moreover, availability and accessibility of contraceptive devices in the region through various channels, including healthcare providers, clinics, pharmacies, online platforms, etc. has played a vital role in controlling the ailments related to sexual health.
   
• Further, efforts to integrate contraceptive services within primary healthcare settings, including routine gynecological visits and general health check-ups, have facilitated access to contraceptives. Thus, the above-mentioned factors are projected to boost the market in North America during the analysis timeframe.