Market Trends of Global Contraceptive Drugs and Devices Industry
This section covers the major market trends shaping the Contraceptives Drugs Devices Market according to our research experts:
Female Segment is Expected to Hold a Significant Market Share in the Contraceptive Drugs and Devices Market Over the Forecast Period
The female segment in the contraceptive drugs and devices market is expected to witness significant growth over the forecast period owing to the increased adoption of contraceptive drugs and devices, rising sexually transmitted diseases, and a growing number of unintended pregnancies.
The rising adoption of contraceptive drugs and devices is the key factor driving the demand for the female contraceptive segment, thereby fueling market growth. For instance, according to an article published by the Journal of Family Medicine and Primary Care in June 2021, the contraceptive prevalence rate was found to be 75%. The most used female contraceptive methods were tubectomy (81.6%), intrauterine devices (6.3%), and oral contraceptive pills (0.7%). Thus, the increasing adoption of contraceptive drugs and devices is expected to propel market growth over the forecast period.
The increasing company focus on adopting various business strategies such as product launches, mergers, and company spin-offs is likely to boost the growth of the market over the forecast period. For instance, In April 2022, Lupin, a Mumbai-based pharmaceutical company, launched Merzee capsules, a pregnancy prevention medication, under an exclusive license, marketing, and distribution deal with Slayback Pharma LLC. Additionally, in November 2021, Organon announced the public listings for NEXPLANON (etonogestrel extended-release subdermal implant) in Quebec under the Régie de l'assurance Maladie du Québec (RAMQ). Similarly, in June 2021, Sebela Pharmaceuticals Inc., in collaboration with PRA Health Sciences, is conducting a phase III clinical trial to assess LevoCept, a long-acting reversible intrauterine system for contraceptive efficacy, safety, and tolerability.
Thus, the above-mentioned factors, such as an increase in the adoption of female contraceptives and product launches, are expected to boost the growth of the segment over the forecast period.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is expected to dominate the contraceptive drugs and devices market over the forecast period owing to the factors such as the rising cases of unwanted pregnancies and high abortion rates, the presence of sophisticated healthcare infrastructure, the high adoption rate of contraceptive drugs and devices, and the rising number of government initiatives.
A large section of the women population represents the reproductive age in the United States as well as Canada. Thus, the rising incidences of unwanted pregnancies and abortion rates are the key factor driving the market growth in the region. For instance, according to the statistics published by Pew Research Center in June 2022, it has been observed that the 930,160 abortions recorded in 2020 increased compared to the previous year. Thus, the rising number of abortion cases in the country is expected to increase the demand for adopting various contraceptive methods to avoid unwanted pregnancies, thereby propelling market growth.
In addition, the rising number of sexually transmitted diseases among the population in the region is also contributing to the growth of the market in the region. For instance, in April 2022, a report published by the CDC stated that STDs remain a significant public health concern in the United States. According to the same source, Chlamydia trachomatis infection was the most prevalent notifiable sexually transmitted infection in the United States in 2020, with a total of 1,579,885 cases reported to the CDC. In addition, as per the same source, 677,769 different gonorrhea infections were reported in the United States in 2020. Thus, the rising burden of these diseases among the population is expected to increase the demand for male condoms, which protect against pathogens such as gonorrhea, herpes simplex virus (HSV), hepatitis B, HIV, and chlamydia which are expected to propel the market growth in the region over the forecast period.
Furthermore, several organizations are also engaged in the implementation of strategic initiatives in the country. For instance, as per the Bill & Melinda Gates Foundation data published in 2022, the foundation is aiming to offer USD 280 million per year from 2021 to 2030 for developing new and improved contraceptive technologies, support family planning programs that reflect the preferences of local communities and enable women and girls to be in control of their contraceptive care.
Moreover, the increasing contraceptive product approval and launches in the region are also expected to boost market growth over the forecast period. For instance, In June 2021, Mayne Pharma Group Limited and Mithra Pharmaceuticals launched Estelle under the trademark Nextstellis (drospirenone and estetrol tablets), a new oral contraceptive with a novel estrogen having a unique mechanism of action, in the United States. Also, in March 2021, Mithra and Searchlight Pharma received Health Canada approval for Nextstellis, a combined oral contraceptive (COC) product based on the unique native estrogen estetrol (E4) in Canada.
Thus, the above-mentioned factors, such as strategic initiatives coupled with product launches, are expected to boost the growth of the market studied in the country.
