Contraceptive Devices Market Trends

Growth Drivers

• Favorable demographics and population trends: The growing population of Earth, especially in developing regions, creates a notable demand for effective birth control, hence fueling the market. According to the United Nations report, the number of people living worldwide is predicted to surpass 10.0 billion by the end of the 20th century, with over 227,000 babies being born daily. As a result, the number of younger demographics entering reproductive age is amplifying, which requires access to a wide range of contraceptive options.
• Emerging trend of modern birth control approach: The contraceptive devices market is evolving with revolutionary technological progress, translating to safer, more effective, and user-friendly products. Ongoing advances, such as hormone-releasing IUDs, biodegradable implants, and self-administered tools, already improved user experience and efficacy, prompting more individuals to invest in this category. Further, to capitalize on this trend, in February 2024, Bayer and Daré Bioscience allied to expand current contraceptive methods by developing a hormone-free monthly contraceptive ring for vaginal insertion that can stay effective over three weeks without any action required.
• Initiatives to promote reproductive decisions: Public authorities around the world are updating their strategies to control population growth and improve maternal health through bulk procurement and distribution of products available in the market. Particularly, government-backed subsidies, free distribution programs, and incentives for sterilization or IUD adoption are becoming highly common in high-population countries, such as China and India. For instance, India started realizing its 2030 commitment to securing access to a range of contraceptives with the addition of new choices with an aim to improve healthy timing and spacing of pregnancies (HTSP) through postpartum family planning (PPFP).

Historical Overview of the Global Demographics in the Market

STI-related Global Statistics and Health Impacts (2020)

Source: WHO

Challenges

• Concerns about user compliance and social stigma: The cases of side effects, such as hormonal imbalances, weight gain, and discomfort, from using these devices often lead to discontinuation. Besides, in many underserved regions, a lack of awareness about available options and persistent social restrictions on usage also contribute to underutilization in the contraceptive devices market. Moreover, the limited autonomy of women over reproductive health decisions due to patriarchal norms and societal pressure imposes an unavoidable limitation on widespread adoption in this sector.