Contraceptives Market - By Product (Drugs, Devices), By Age Group (15-44 Years, above 44 Years), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Channels), - Global Forecast, 2023-2032

Contraceptives Market - By Product (Drugs, Devices), By Age Group (15-44 Years, above 44 Years), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Channels), - Global Forecast, 2023-2032

Contraceptives market size is projected to expand at 6.3% CAGR from 2023 to 2032, on account of the increasing awareness about family planning and the importance of population control. The growing focus on women health, education, and empowerment is contributing to higher demand for contraceptives. The rising advancement in contraceptive technologies is making way for the development of more convenient and effective methods for consumption. For instance, in July 2023, the U.S. FDA granted approval for Opill (norgestrel) tablets for nonprescription use, marking the first authorization of a daily oral contraceptive for over-the-counter use in the U.S. without a prescription.

Moreover, the rising prevalence of sexually transmitted infections (STIs) is encouraging the use of barrier methods. The rising trend of delayed parenthood and family planning for career pursuits is also driving the adoption of contraceptives. The influx of government initiatives and awareness campaigns for promoting reproductive health is also positively affecting the market growth.

The contraceptives market is segregated into product, age group, distribution channel, and region.

Based on product, the industry size from the drugs segment is projected to depict 3.9% CAGR from 2023 to 2032. The growth can be ascribed to the increasing R&D activities in hormonal and non-hormonal contraceptive drugs. The rising awareness about family planning, the higher advancements in pharmaceutical technologies, and the expanding initiatives for women health will fuel the product demand.

Contraceptives market share from the above 44 years age group segment is projected to rise at 5.6% CAGR during 2023-2032. This can be attributed to the rising trend of delayed parenthood, increased awareness of family planning, and the greater desire for effective birth control methods among older individuals. The growing advancements in contraceptive options tailored to the specific needs of this age group will also boost the segment growth.

Regionally, the Asia Pacific contraceptives market size is projected to grow at 7.9% CAGR from 2023 to 2032 due to the increasing awareness of family planning and the influx of government initiatives for promoting reproductive health. Additionally, cultural shifts, urbanization, and the growing focus on women education and empowerment will fuel the demand for contraceptives across the region.