Contraceptives Market Trends

Growth Drivers

• Effective to Reduce Teen Pregnancies - According to the statistics by the UNICEF, about 14% of adolescent girls and young women were known to give birth at a younger age before 18 globally in the year 2021. The data also stated that maternal conditions, which registered 507 DALYs (per 100,000 population) among the adolescent girls had the 4th position among the top 5 causes of disability affected life years (DALYs). In the recent period, owing to the less level of awareness about sex and sex education, the number of teen pregnancies has seen an escalation. Thus, the use of contraceptives is estimated to boost market growth as well as reduce teen pregnancies more effectively. It is also observed that 85% of the decline in teen pregnancies worldwide is on account of improvements in contraceptive usage, this is confirmed owing to the evidence that there is no decline in the rate of intercourse. According to the Centers for Disease Control and Prevention, the teen birth rate in the U.S. reduced to 16.7 per 1000 females in 2019, from 17.4 per 1000 females in 2018.

• Growing Disposable Income - With the rising disposable income, the spending capacity of individuals also grows to make them capable of buying extra things. Therefore, with more income level of the population, the sales of contraceptives are anticipated to rise to avoid pregnancies. The disposable income of the U.S. in August 2022 rose to 0.1% up from -0.4% in June 2022 as per the Bureau of Economic Analysis.

• Rising World Population - In the recent period, the world population has seen an explosion with thousands of births every single day. As a result, it is growing pressure on the economy. Thus, to curb the growing population rate, the consumption of contraceptives is estimated to soar during the analysis period. It is observed that the world’s population would rise to 2 billion people by the end of 2050 up from 8 billion people in 2020.

• Elevating Risk of Abortion - Medical professionals have stated that abortion is associated with high risks including pelvic infection, blood clots in the uterus, heavy bleeding, cuts in the cervix, perforation of the wall of the uterus, and others. Thus, to reduce abortion cases, contraceptives are treated to be an effective way, which in turn, is anticipated to bring lucrative growth opportunities for market growth.  As per the World Health Organization, about 73 million abortions occur every year in the world.

• Rising Government Support to Control Population - With the implementation of favorable policies in regard to population control, the utilization rate of contraceptives is expected to increase among consumers. In 2005, the Indian Government launched National Family Planning Indemnity Scheme (NFPIS) and passed Population (Control, Stabilization, and Welfare) Bill in 2021.

Challenges

• Side Effects such as Nausea and Headache Associated with the Use of Contraceptives – Birth control pills, the most common contraceptives are stated to have negative effects on the human body which include sore breasts, weight gain, decreased sex drive, frequent mood changes, spotting or bleeding between menstrual cycles, and others. Thus, the rising concerns regarding the side effects are estimated to decrease the consumption rate of contraceptives in the forecast period.
• Health Risk with the Use of Contraceptives
• Lack of Social Acceptance