Contraceptive Devices Market size was over USD 12.23 billion in 2023 and is poised to cross USD 25.14 billion by 2036, witnessing more than 5.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of contraceptive devices is evaluated at USD 12.79 billion. The growth of the market can be attributed to the increasing awareness regarding the growing population, and drawbacks of population explosion. According to the data by the World Bank, the global population reached 7.762 billion in 2020. The increasing government concerns and awareness amongst the people is estimated to primarily drive the market growth. Moreover, growing acceptance of concepts, such as, nuclear family, and family planning, are further anticipated to boost the market growth. Along with this, various government initiatives, such as, one-child an two-child policies in various over-populated countries, are projected to encourage the market growth. Furthermore, the use of contraceptive devices is foreseen to increase on the back of the increasing awareness about sexually transmitted diseases (STDs), and unwanted pregnancies.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.7% |
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Base Year Market Size (2023) |
USD 12.23 billion |
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Forecast Year Market Size (2036) |
USD 25.14 billion |
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Regional Scope |
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The market is segmented by device type into condoms, diaphragms, cervical caps, vaginal rings, intra uterine device (IUD), and others out of which, the condoms segment is anticipated to hold the largest share in the global contraceptive devices industry over the forecast period on account of easy availability, higher acceptance, ease of use, and zero complications with condoms. Moreover, condoms provide additional protection from STDs, which is not provided by other devices. Such factors are estimated to boost the segment growth.
Our in-depth analysis of the global market includes the following segments:
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By Device Type |
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By Distribution Channel |
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APAC Market Statistics
On the basis of geographical analysis, the global contraceptive devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing population in the region. For instance, as per the report by the World Bank, 1.38 billion people live in India, and 1.411 billion in China, as of 2020. Moreover, government initiatives to promote family planning, is also estimated to boost the market growth.
North America Market Analysis
The market in the North America region is anticipated to gain substantial market share throughout the forecast period on the back of the high health awareness, and presence of major pharmaceutical companies in the region.
February, 2021: Sandoz announced the acquisition of cephalosporin antibiotics business of GSK, to expand its portfolio to production of antimicrobial drugs.
September, 2020: Mylan and Pfizer received approval from European Commission for consolidation of Mylan and Upjohn for distribution of Mylan’s medical products in Europe.
Author Credits: Radhika Pawar
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