Contraceptive Devices Market Size

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.