Global Contraceptive Drugs and Devices Market Size

Contraceptives Drugs Devices Market Analysis

The contraceptive drugs and devices market is expected to register a CAGR of 7.92% during the forecast period.

The restrictions imposed by the government have significantly impacted the growth of the studied market during the initial period of the pandemic. For instance, according to an article published in Contraceptives and Reproductive Medicine in March 2022, it has been observed that the use of long-acting contraceptives decreased, with implants by 76%, intrauterine systems by 79%, and intrauterine devices by 76%. Similarly, according to United Nations Population Fund, in March 2021, women had difficulty accessing contraception nine times, resulting in an almost doubling of unexpected births, from 1.3% pre-lockdown to 2.1% post-lockdown. Thus, there was a significant impact on the contraceptive drugs and devices market due to the COVID-19 pandemic. However, since the lockdown restrictions were lifted, the industry has been recovering well. For instance, in October 2022, TTK Healthcare Ltd in India reported a more than twofold increase in quarterly profit, boosted by increased sales of medical devices and contraceptives. Revenue from its protective devices division, which includes the Skore condom brand, increased by over 33% as new items were introduced. It also received a contract to deliver contraceptive devices to an international organization until July 2023. Such instances are expected to boost the growth of the market over the forecast period.

Certain factors that are propelling the market growth are increasing incidences of sexually transmitted diseases, an increasing rate of unintended pregnancies, and rising government initiatives. Unwanted pregnancies are becoming more prevalent globally and are a major cause for concern. For instance, according to the United Nations Population Fund, in March 2022, unintended pregnancies accounted for about half of all pregnancies worldwide, with 121 million occurring each year. As per the same source, over 60% of unplanned pregnancies end in abortion, with an estimated 45% of all abortions being unsafe, resulting in 5%-13% of all maternal fatalities, putting the world's capacity to meet the "Sustainable Development Goals" at risk. Additionally, according to the article published in the BMC Pregnancy and Childbirth 2021, unintended pregnancies affect approximately 85 million women worldwide, with India accounting for more than one in every seven of these cases. In addition, as per the same source, Uttar Pradesh, India's most populous state (population of approximately 200 million), has twice the unwanted fertility rate as compared to the rest of the country. Thus, the rising number of unintended pregnancies is expected to boost the demand for contraceptive drugs and devices, which is anticipated to boost market growth over the forecast period.

In addition, the rising prevalence of sexually transmitted diseases among the population is expected to increase the market growth. For instance, according to the report published by the Centers for Disease Control and Prevention in April 2022, it reported that around 133,945 cases of all stages of Syphilis were noted, which includes 41,655 cases of primary and secondary Syphilis, which is considered the most infectious stages of the disease. It also reported an increase of 6.8% in Syphilis in 2020. Additionally, according to the data published by the World Health Organization in November 2021, it has been observed that around 374 million new infections with one of four sexually transmitted diseases - chlamydia (129 million), gonorrhea (82 million), Syphilis (7.1 million) and trichomoniasis (156 million) were recorded in 2020. Thus, the rising burden of sexually transmitted diseases is expected to increase the demand for contraception to avoid getting diseases, thereby propelling market growth.

Furthermore, the countries and their governments have recognized the need to curb the increase in unplanned pregnancies and have launched numerous campaigns to educate people and prevent the spread of unplanned pregnancies and abortions. The usage of contraceptive pills is one of them. The fundamental right to privacy guaranteed by the United States Constitution includes the freedom to obtain and use contraceptives. For instance, the United States Agency for International Development (USAID) promotes and supports voluntary family planning and reproductive health initiatives in approximately 40 countries worldwide. Additionally, in March 2022, National Chlamydia Screening Program (NCSP) was organized in the United Kingdom. The program's main aim is to reduce the risk of untreated chlamydia infection. This program also focused on reducing the time to test results and treatment and re-testing after treatment. The program is also changing from prevention and control to focusing on reducing the harms of untreated chlamydia infection by primarily screening women and girls. Thus, government initiatives are also promoting the use of contraceptive methods to avoid unnecessary births and abortions.

Thus, all aforementioned factors, such as rising in the prevalence of sexually transmitted diseases and government initiatives, are expected to propel the growth of the market. However, the high cost of devices and treatment and side effects associated with the use of contraceptive drugs and devices are some of the factors that are likely to impede market growth over the forecast period.