Contraceptive Market Size, Share, & Trends Analysis Report By Product (Contraceptive Devices, Contraceptive Drugs), By Region, And Segment Forecasts, 2024 - 2030

Contraceptive Market Size, Share, & Trends Analysis Report By Product (Contraceptive Devices, Contraceptive Drugs), By Region, And Segment Forecasts, 2024 - 2030

Contraceptive Market Growth & Trends

The global contraceptive market size is anticipated to reach USD 44.04 billion by 2030 and is anticipated to grow at a CAGR of 5.92% during the forecast period, according to a new report by Grand View Research, Inc. The growing prevalence of Sexually Transmitted Infections (STIs), especially HIV, and the growing awareness of contraception in developing countries is expected to drive the industry growth during the forecast period. The presence of high unmet contraceptive needs coupled with the implementation of favorable government policies is expected to significantly contribute to market growth.

The government spending on contraceptives is growing rapidly. This is expected to drive the growth of the market over the forecast period. This investment typically supports initiatives such as subsidized or free contraceptive services, educational campaigns, and distribution programs. Such efforts increase accessibility to contraceptives and raise awareness about family planning and reproductive health, boosting the growth of the market. According to the Family Planning 2030 report, the U.S. donated the largest funding for family planning in 2022, accounting for around USD 582.9 million (43%), followed by the Netherlands (USD 217.4 million (16%)), UK (USD 174.7 million (13%)), Sweden (USD 121.3 million (9%)) and Canada (USD 88.3 million (7%)).

Due to the highly competitive nature of the market, major companies are focusing on significant investments in Research and Development (R&D) and adopting various strategies such as mergers and acquisitions and expanding their product pipelines. For instance, in December 2023, Quotient Sciences, a drug development company based in Nottingham, announced the initiation of the first trial for a hormone-free male birth control pill called YCT-529.

Contraceptive Market Report Highlights

• Based on product, the contraceptive device segment dominated the market with the largest revenue share in 2023. This is attributed to the higher success rates and the single-use nature of the devices.
• Moreover, the contraceptive drugs segment is expected to witness the fastest CAGR during the forecast period owing to the easy accessibility, affordability, and significant success rates pertaining to these medications.
• The North America region held the largest market share in 2023. This can be attributed to the high user awareness levels and easy product availability
• In June 2023, DKT Healthcare Uganda launched a new condom variant called Kiss Extra Time designed to prolong sexual performance and enhance the intimate experience for couples. The condom is available for purchase at USD 0.16 in drug shops and pharmacies across Uganda, alongside other variants such as Kiss Passion Fruit, Kiss Strawberry, Kiss Classic, Kiss Chocolate, and Kiss Studded, all designed to cater to diverse preferences.

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