Global Contraceptive Devices Market Analysis 2024 – Estimated Market Size And Key Drivers

The Contraceptive Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Contraceptive Devices Global Market Report 2024, The contraceptive devices market size has grown strongly in recent years. It will grow from $12.05 billion in 2023 to $12.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growing awareness about the importance of family planning and contraceptive methods, government initiatives, increasing global population, greater focus on women’s health and empowerment, improving access to healthcare facilities.

The contraceptive devices market size is expected to see strong growth in the next few years. It will grow to $16.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to increasing awareness of sexual health and STD prevention, economic benefits of controlling family size, growing cultural acceptance of contraceptive use, high proportion of young population in reproductive age, influence of social media on spreading awareness. Major trends in the forecast period include innovations in contraceptive technologies, educational campaigns by NGOs and health organizations advancements in pharmaceutical formulations, availability of a wide range of contraceptive products, investment in research and development for new contraceptive methods.

The growing prevalence of sexually transmitted diseases is expected to propel the growth of the contraceptive device market going forward. Sexually transmitted diseases (STDs) are infections transmitted primarily through sexual contact, affecting various body parts and potentially leading to a range of symptoms and health complications. Sexually transmitted diseases are rising due to increased sexual activity, a lack of proper protection, insufficient sexual health education, and challenges in access to healthcare and testing. Contraceptive devices, especially condoms, are required for sexually transmitted diseases because they provide a barrier that reduces the risk of transmission by preventing direct contact with infectious fluids and lesions. For instance, in July 2024, according to a report published by the UK Health Security Agency, a UK-based government agency, in England, there were 401,800 new STI diagnoses in 2023, marking a 4.7% increase from the 383,789 cases reported in 2022. Diagnoses of gonorrhoea rose by 7.5%, from 79,268 in 2022 to 85,223 in 2023. Meanwhile, infectious syphilis diagnoses saw a 9.4% increase, rising from 8,693 in 2022 to 9,513 in 2023. Therefore, the growing prevalence of sexually transmitted diseases is driving the growth of the contraceptive device market.

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The contraceptive devices market covered in this report is segmented –

1) By Product Type: Male Contraceptive Devices, Female Contraceptive Devices, Female Condoms, Diaphragms And Sponges, Vaginal Rings, Intrauterine Devices, Sub-Dermal Implants, Others Product Types
2) By Technology: Hormonal Contraceptives, Barrier Contraceptives
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channels, Public Channel And Non-Governmental Organization (NGO), Other Distribution Channels

Major companies operating in the contraceptive device market are developing innovative products, such as contraceptive vaginal rings, to provide a convenient, low-maintenance method of birth control with a once-a-month insertion. A contraceptive vaginal ring is a flexible, hormone-releasing device inserted into the vagina that prevents pregnancy by continuously releasing hormones to inhibit ovulation and thicken cervical mucus. For instance, in October 2023, Xiromed LLC, a US-based pharmaceuticals company, launched the EnilloRing. The EnilloRing, developed by Xiromed, is a contraceptive vaginal ring that combines etonogestrel and ethinyl estradiol. It is designed for long-term use, remaining in place for three weeks. After this period, it is followed by a one-week ring-free interval to effectively prevent pregnancy.

The contraceptive devices market report table of contents includes:

1. Executive Summary
2. Contraceptive Devices Market Characteristics
3. Contraceptive Devices Market Trends And Strategies
4. Contraceptive Devices Market – Macro Economic Scenario
5. Global Contraceptive Devices Market Size and Growth
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32. Global Contraceptive Devices Market Competitive Benchmarking
33. Global Contraceptive Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Contraceptive Devices Market
35. Contraceptive Devices Market Future Outlook and Potential Analysis
36. Appendix