CONTRACEPTIVES MARKET ANALYSIS

Market Challenges And Opportunities

Global Contraceptive Market- Drivers

• Increasing popularity of contraceptive drugs: The popularity of contraceptive is steadily rising globally, catalyzing the growth of the overall contraceptive market. With greater sexual health awareness and women's empowerment, more individuals are seeking effective yet reversible protection from unintended pregnancies. This is evidenced in statistics, according to a study reported by the United Nations, over 60% of married women aged 15-49 in developing countries were currently using some form of modern contraception in 2020. Moreover, according to data provided by National Center for Biotechnology Information (NCBI) in November 2022, a research was conducted by KFF Women’s Health Survey (WHS) which provided the data, that over three-quarters (77%) of women of reproductive age support the idea of making birth control pills accessible over the counter without a prescription, provided that research confirms the safety and efficacy of this initiative, 56% strongly support the policy, while 21% express moderate support, regardless of their personal choice. Conversely, 12% of women hold either slight or strong opposition to the policy, with 11% undecided. Notably, recent users of oral contraceptives exhibit a stronger inclination towards endorsing this initiative, with 60% expressing support, in contrast to 52% among those who haven''t used contraception in the past 12 months.
• Growing government initiatives for promoting access to family planning and contraceptives: Growing government initiatives for promoting access to family planning and contraceptives are a major factor driving the growth of the global contraceptive market. Many governments around the world recognize that improving access to contraception allows people to decide freely and responsibly on the number and spacing of their children. This in turn helps to reduce poverty, achieve gender equality, enhance public health and support sustainable development. Alongside government programs, non-profit organizations are also assisting by providing funding, awareness programs, and delivering contraceptives in remote rural areas. The charitable activities of non-governmental organization (NGO) are immensely helping to expand choice and reach of family planning services across developing With more international donors supporting their work, NGOs are able to scale up outreach and distribution fast, especially during health emergencies like the ongoing COVID-19 pandemic. Moreover, in November 2022, U.S. Agency for International Development (USAID) announced a US$15 million award over five years, subject to availability of funding, for the Family Planning 2030 (FP2030) partnership. Via this recognition, USAID aims to offer worldwide guidance and cutting-edge family planning expertise to bolster FP2030''s objective of enhancing access to contraception for countless women and girls globally.

Global Contraceptive Market- Opportunities

• Growing demand in developing countries: Growing population in developing countries presents a significant opportunity for the global contraceptive market. Many developing nations are experiencing expanding populations that outpace economic growth, putting pressure on resources and infrastructure. For example, according to UN Population Division data, the average population growth rate between 2020-2023 for sub-Saharan African nations is estimated between 2.5-3%. The high population growth without adequate access to family planning results in increased social and economic issues for these countries. As governments and international organizations in developing regions recognize the need for population stabilization and empowering women''s health, demand for modern contraceptives is rising rapidly. Initiatives like India''s Family Planning 2020 and investments from global health charities are helping to boost access to contraceptives across rural communities and lower income demographics.
• Growing female population opting for contraceptive drugs: Growing women population opting for contraceptive drugs can provide significant opportunities for the global contraceptive drugs market. According to the data published by the United Nations, the world''s female population is expected to rise from 3.9 billion in 2020 to 4.2 billion in 2030. This natural increase in numbers will directly translate to higher demand for effective contraceptive solutions in the near future. Many countries are also witnessing rapid urbanization which often leads to postponement of child-bearing age among women. This expands the window requiring contraception and pushes them towards reliable pharmaceutical options. With rising education and women empowerment programs globally, more females have access to sexual and reproductive health education. They are making independent choices regarding family planning through modern contraceptive methods. This shifts the trend from traditional ones like withdrawal method to effective long-term reversible contraceptives (LARCs) and other drugs.

Global Contraceptive Market - Restraints

• Side effects associated with pills: One of the major factors restraining the growth of the global contraceptive pills market is the side effects that are associated with their usage. Contraceptive pills contain synthetic hormones like progesterone and estrogen which are known to cause various side effects in many women. Common side effects include nausea, breast tenderness, headache, mood changes, weight gain and in some cases reduced libido. Some women also experience problems like blood clots, high blood pressure and cervical cancer with long term usage. This discourages many from opting for contraceptive pills due to the risk of short and long term side effects on their health and well-being. The fear of side effects has led to a decline in preference for contraceptive pills and demand is stagnating in developed markets, according to a 2020 report by the United Nations Department of Economic and Social Affairs. The report states growing concerns around side effects was a major reason cited by over 20% of women in North America who stopped using contraceptive pills between 2015-2020. Similarly, in 2019, according to a study published by the British Medical Journal found that 16% of women in the U.K. switched to different contraceptive methods or chose not to use any contraceptives at all due to facing intolerable side effects from pills.
• Risks of blood clots and cardiovascular diseases: One of the major risks restraining the growth of global contraceptive pills market is the potential risk of blood clots and cardiovascular diseases that are associated with their usage. Most of the oral contraceptive pills available in the market contain synthetic hormones like estrogen and progestin which are responsible for preventing pregnancy. However, these same hormones may also increase certain health risks like developing dangerous blood clots in the legs and lungs called deep vein thrombosis (DVT) or pulmonary embolism (PE). According to data provided by the Centers for Disease Control and Prevention, from 2020, about 1 in every 1,000 women on birth control pills experienced blood clots in the first year of usage. The risks are even higher for women above 35 years of age or who smoke cigarettes. Apart from blood clots, some pills are also known to increase risks of other cardiovascular diseases like heart attacks or strokes in long term usage. Studies have found that combination birth control pills with both estrogen and progestin increase the risk of cardiovascular diseases by about 30-40% as compared to women not using contraceptive pills. According to a study by the World Health Organization (WHO), from 2021 analyzing healthcare data from several countries found pills containing third-generation progestins like Desogestrel or Gestodene were associated with highest risks as compared to second-generation pills like Levonorgestrel. This risk deters many women, especially in older age groups above 30-35 years, from opting for oral contraceptive pills considering their other non-pill contraceptive options like condoms have no such risks.
• Counterbalance – Despite the significant concerns surrounding the side effects of contraceptive pills, ongoing advancements in pharmaceutical research and development (R&D) offer promising avenues for addressing these issues. Emerging formulations aim to mitigate adverse reactions by fine-tuning hormone levels and exploring alternative delivery methods such as transdermal patches or intrauterine devices (IUDs). Increasing awareness campaigns and educational initiatives can empower women to make informed choices regarding their contraceptive options, emphasizing the importance of personalized healthcare consultations to identify the most suitable method based on individual health profiles and preferences.