CONTRACEPTIVES MARKET ANALYSIS

Global Contraceptive Market – Trends

• Customization and innovation in pill formulations: Global contraceptive pills market is witnessing new trends of rising customization and greater focus on innovation . With changing needs and preferences of consumers, manufacturers are introducing pills with customized dosages, delivery methods and side effect profiles to cater to diverse set of users. For instance, some companies are developing pills containing different mixtures of hormones specifically targeting women who are unable to tolerate standard combination formulas due to side effects. Such pills with tweaked compositions allow women to better manage their symptoms. Another influencing trend is the emergence of long-acting and novel delivery formats for contraceptive pills. Going beyond traditional oral pills, some companies are experimenting with vaginal rings and skin patches that release progestin hormones slowly over a period of time. This helps automate intake and potentially improves adherence for women. Transdermal gel and spray formulations that deliver progesterone through skin are also being tested. The World Health Organization (WHO) has welcomed such innovations to increase options available for women worldwide. For example, in 2021, according to a survey by the United Nations Population Fund on family planning in Africa, found that, nearly a quarter of women preferred newer delivery methods over daily oral pills, if proven safe and effective. Moreover, increasing launch of innovative methods for contraception is expected to drive the market growth over the forecast period. For instance, in April 2022, Bayer AG, one of the global pharmaceutical and Biotechnology Company and Daré Bioscience, U.S. Biotech Company announced that they have joined forces to expand current contraceptive methods by developing a hormone-free monthly contraceptive. The device is a vaginal ring that offers contraception for three weeks without the need for user intervention at the time of intercourse.