Male contraceptives include, male condoms and female contraceptives include, female condoms, diaphragms, sponges, vaginal rings, subdermal implants, and intrauterine devices (IUDs).
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
Approval and launch of new products is expected to propel growth of the global emergency contraceptives market over the forecast period. For instance, in May 2020, Evofem Biosciences, Inc. received the U.S. Food and Drug Administration (FDA) approval for Phexxi (lactic acid, citric acid and potassium bitartrate) vaginal gel used to prevent pregnancy in females of reproductive potential for use as an on-demand method of contraception.
Global Contraceptives Market: Opportunities
R&D in emergency contraceptives is expected to offer lucrative growth opportunities for players in the global contraceptives market. For instance, in March 2020, researchers from Monash University and The Alfred Hospital, Australia, reported assessing the impact of oral contraceptive androgenicity on visuospatial and social-emotional cognition in reproductive-aged women.
Global Contraceptives Market: Restraints
Decreasing birth rate is expected to limit use of contraceptive drugs and devices, thereby hindering growth of the global contraceptives market. For instance, according to National Vital Statistics System, the provisional number of births for the U.S. in 2018 was 3,788,235, registering a decrease of 2% from 2017 and the lowest number of births in 32 years.
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. Major factor driving the growth of global contraceptives market during the forecast period include increasing population, and increasing focus on family planning.
Devices held dominant position in the global contraceptives market in 2019, accounting for 57.2% share in terms of value, followed by drugs, respectively. Availability of wide variety of easy to use devices, and presence of number of manufacturers is supporting growth of the market.
R&D in male birth control pill is expected to propel growth of the market. For instance, in March 2018, researchers from the University of Washington presented positive results from a small clinical trial of 100 men for a male birth control pill that inhibits testosterone production.
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in December 2019, Evofem Biosciences, Inc. announced that the U.S. Food and Drug Administration (FDA) acknowledged receipt of the New Drug Application resubmission for Amphora, a Multipurpose Vaginal pH Regulator (MVP-R), for the prevention of pregnancy.
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
January 2020: Bayer HealthCare AG signed a license agreement with Daré Bioscience, Inc., a provider of products for women’s health, under which Bayer may commercialize Daré’s investigational contraceptive product, Ovaprene in the U.S. once approved by the U.S. FDA