Female Contraceptive Market size is set to grow by USD 4.57 billion from 2024-2028, Increasing adoption of innovative marketing strategies to boost the market growth, Technavio

NEW YORK, June 7, 2024 /PRNewswire/ -- The global female contraceptive market  size is estimated to grow by USD 4.57 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 4.6%  during the forecast period. Increasing adoption of innovative marketing strategies is driving market growth, with a trend towards increasing popularity of female condoms. However, irregularities in sex education in developed countries  poses a challenge. Key market players include AbbVie Inc., Afaxys Pharma LLC, Agile Therapeutics Inc., Amgen Inc., Ansell Ltd., Bayer AG, The Cooper Companies Inc., Cupid Ltd., Exeltis USA Inc., Johnson and Johnson Services Inc., Mayer Laboratories Inc., Medisafe Distribution Inc., Merck and Co. Inc., Pfizer Inc., Piramal Enterprises Ltd., Reckitt Benckiser Group Plc, Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Veru Inc., and Viatris Inc..

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Key Market Trends Fueling Growth

The female contraceptive market is experiencing growth due to the increasing adoption of female condoms, particularly in developed countries. The US government's DC program distributes female condoms through various channels, promoting their use and improving sexual health awareness. Second-generation female condoms from brands like FH2 have reduced costs, making them price-equivalent to male condoms.

These nitrile condoms enhance sensations and are essential for high-risk populations and those preferring non-hormonal methods. Vendors invest in R&D to improve designs, while comprehensive programs in developing countries promote their use, leading to increased safe intercourse practices and reduced STIs. 

The female contraceptive market is experiencing significant growth, with various contraceptive methods gaining popularity. These include pills, patches, intrauterine devices (IUDs), and rings. The use of hormonal contraceptives, such as the pill and the patch, remains common. IUDs and implants are also on the rise due to their long-term effectiveness and convenience.

The trend towards non-hormonal methods, like the copper IUD, is increasing as well. Additionally, the development of new technologies, like the pill dispenser app, is making contraceptive use more convenient. Overall, the market for female contraceptives is dynamic and diverse, catering to the diverse needs and preferences of women. 

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Market Challenges

• The US sex education system's inconsistencies, particularly in conservative states with abstinence-only curricula, are limiting teenagers' awareness and usage of female contraceptives. This lack of education contributes to higher teen birth rates and increased risk of sexually transmitted diseases.
• The CDC reports that only 5% of US high schools provide condoms to students. These discrepancies may negatively impact the growth of the global female contraceptive market. Proper, scientifically accurate sex education is essential to increase awareness and adoption of contraceptive products.
• The Female Contraceptive Market faces several challenges in the Condoms, Pills, IUDs, and Rings sectors. Drugs and hormonal deprivation are concerns for Pills and IUDs. Subcutaneous implants and hormonal injections also require careful consideration due to their long-term effects. The market must address the need for effective, convenient, and affordable contraceptive options.
• The rise in teenage pregnancies and the increasing number of non-marital relationships highlight the need for accessible and discreet contraceptive methods. Additionally, the ongoing debate around the ethical implications of certain contraceptive methods adds complexity to the market landscape. Overall, the Female Contraceptive Market requires innovative solutions to meet the diverse needs and concerns of consumers.

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Segment Overview 

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Female contraceptive devices
• 2.2 Female contraceptive drugs
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Offline-  The female contraceptive market is a significant business sector, catering to women's health and family planning needs. It includes various methods like oral pills, patches, intrauterine devices (IUDs), and condoms. These products help prevent unwanted pregnancies and offer women control over their reproductive health. The market's growth is driven by increasing awareness, rising disposable income, and technological advancements. Companies invest in research and development to launch new and improved contraceptive solutions. The market is competitive, with key players focusing on marketing strategies, pricing, and distribution networks to expand their customer base.

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Research Analysis

The Female Contraceptive Market encompasses a range of products designed to prevent unplanned pregnancies among the female population. These include Intrauterine Devices (IUDs), Oral Contraceptives (OCs), Transdermal Patches, Vaginal Gels, Contraceptive Injections, Spermicides, Female Condoms, Diaphragms, and Caps. The contraceptive pipeline continues to expand, with new offerings such as Dienogest + ethinylestradiol and Estelle (drospirenone + estetrol).

OCs, in particular, have seen significant success due to their efficacy and convenience. However, considerations for specific patient populations, such as those with female vitiligo or osteoporosis, may require alternative contraceptive methods. Birth control medications come in various forms, catering to the diverse needs of teenagers and young population. Contemporary contraceptives aim to provide effective and safe options for pregnancy prevention, reducing the number of unplanned births.

Market Research Overview

The Female Contraceptive Market encompasses various methods used by women to prevent pregnancy. These include hormonal contraceptives such as pills, patches, and rings, as well as intrauterine devices (IUDs), implants, and sterilization procedures. Devices like condoms and diaphragms are also considered part of this market. The market is driven by factors such as increasing awareness about family planning, rising disposable income, and technological advancements in contraceptive methods.

However, challenges like side effects, cost, and accessibility continue to impact the market. The market is segmented by product type, distribution channel, and region. It is projected to grow at a significant rate due to increasing demand for effective and convenient contraceptive options.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Distribution Channel
• Offline
• Online
• Product
• Female Contraceptive Devices
• Female Contraceptive Drugs
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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SOURCE Technavio