Contraceptives can be used after sex to stop a pregnancy before it starts. There are two main types of emergency contraception: Emergency contraceptive pills (ECPs) and copper T intrauterine device (IUD).
The global contraceptives market is estimated to account for US$ 25,969.2 Mn in terms of value in 2020 and is expected to reach US$ 37,889.0 Mn by the end of 2027.
Global Contraceptives Market: Drivers
Increasing population is expected to propel growth of the global emergency contraceptives market over the forecast period. For instance, according to projections by Population Reference Bureau (PRB) included in the 2018 World Population Data Sheet, the world population is expected to reach 9.9 billion by 2050, up 2.3 billion or 29% from an estimated 7.6 billion people in 2018.
Moreover, increasing focus on family planning among the populace is also expected to aid in growth of the market. For instance, according to PRB’s 2019 Family Planning Data Sheet, globally, 62% of married women ages 15 to 49 use a method of family planning and 56% use a modern method.
Devices held dominant position in the global contraceptives market in 2019, accounting for 57.2% share in terms of value, followed by drugs, respectively
Figure 1. Global Contraceptives Market Share (%), by Value, by Type, 2019
Global Contraceptives Market: Restraints
Side effects associated with the use of contraceptive drugs and devices are expected to hinder growth of the global contraceptives market. Long term side effects associated with oral contraceptive pills such as increased risk of breast cancer, blood clots, and heart strokes strongly discourage usage.
Moreover, low adoption of emergency contraceptives in emerging economies is expected to hinder growth of the market. For instance, according to PRB’s 2019 Family Planning Data Sheet, fewer than 15% of married women of reproductive age use a modern contraceptives in Democratic Republic of the Congo.
|Base Year:||2019||Market Size in 2019:||US$ 24,605.4 Mn|
|Historical Data for:||2016 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||5.5%||2027 Value Projection:||US$ 37,889.0 Mn|
Evofem Biosciences, Inc., Actavis Generics (Teva Pharmaceutical Industries Ltd.), Sun Pharmaceutical Industries Ltd., Perrigo Company plc, Uniprix, Gavis Pharmaceuticals (Lupin Limited), Sandoz International GmbH, Aurobindo Pharma Limited, HRA Pharma, SA, Mankind Pharma, Merck & Co, Bayer HealthCare AG, Church & Dwight, Co. Inc., Allergan, Pfizer, Inc., Agile Therapeutics Inc., BioSante Pharmaceuticals Inc., Mayer Laboratories, Inc., and Pantarhei Bioscience B.V.
|Restraints & Challenges:||
Global Contraceptives Market: Opportunities
Increasing rate of literacy is expected to offer lucrative growth opportunities for players in the global contraceptives market. For instance, according to United Nations Children's Fund, globally, the youth literacy rate increased from 83% to 91% during 1985-2018.
Moreover, high prevalence of HIV/AIDS is expected to boost demand for contraceptives. For instance, according to UNAIDS Global HIV & AIDS statistics — 2019 fact sheet, 37.9 million people were infected with HIV worldwide.
The global contraceptives market was valued at US$ 24,605.4 Mn in 2019 and is forecast to reach a value of US$ 37,889.0 Mn by 2027 at a CAGR of 5.5% between 2020 and 2027.
Figure 2. Global Contraceptives Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
Major contraceptive drugs are nearing patent expiry, which is expected to make way for generics. For instance, patent for YAZ (drospirenone/ethinylestradiol), which provides an oral contraceptive regimen, is set to expire in 2021.
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in February 2020, Agile Therapeutics, Inc. received the U.S. Food and Drug Administration (FDA) approval for its Twirla (levonorgestrel and ethinyl estradiol) transdermal system indicated as a method of contraception for use in women.
Global Contraceptives Market: Competitive Landscape
Major players operating in the global emergency contraceptives market include, Evofem Biosciences, Inc., Actavis Generics (Teva Pharmaceutical Industries Ltd.), Sun Pharmaceutical Industries Ltd., Perrigo Company plc, Uniprix, Gavis Pharmaceuticals (Lupin Limited), Sandoz International GmbH, Aurobindo Pharma Limited, HRA Pharma, SA, Mankind Pharma, Merck & Co, Bayer HealthCare AG, Church & Dwight, Co. Inc., Allergan, Pfizer, Inc., Agile Therapeutics Inc., BioSante Pharmaceuticals Inc., Mayer Laboratories, Inc., and Pantarhei Bioscience B.V.
Global Contraceptives Market: Key Developments
Major players in the market are focused on raising funds to expand their product portfolio. For instance, in April 2020, Evofem Biosciences, Inc. entered into a private Securities Purchase Agreement with a U.S.-based, healthcare-focused institutional investor for up to US$ 25 million of convertible notes.
Contraceptive drugs and devices that aid to control birth rate and unintended pregnancies are subject to unique regulatory challenges across different countries. For instance, contraceptive drugs and devices face reimbursement challenges in the U.S., while contraceptive pills face advertising restrictions in India. Owing to this, contraceptives preference greatly various across countries. Statistics revealed by the United Nations in 2015, highlight this trends, with a particular contraceptive accounting for over 50% share across 45 countries considered in the study. Sterilization is a dominant contraceptive method in regions such as Asia, North America, and Latin America as per the study.
Restraints of the Global Contraceptives Market
Major factors hampering the growth of the contraceptives market during the forecast period constitutes of side effects associated with drugs and devices, and low adoption of emergency contraceptives in emerging economies.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.