PUBLISHER: Grand View Research | PRODUCT CODE: 1571462
PUBLISHER: Grand View Research | PRODUCT CODE: 1571462
The global contraceptive drugs and devices market size was valued at USD 29.6 billion in 2023 and is projected to grow at a CAGR of 5.9% from 2024 to 2030. The market growth can be attributed to an increase in the number of sexually transmitted diseases (STDs) and unintended pregnancies. A growing number of initiatives taken by the governments to spread awareness about contraception have resulted in market growth. Furthermore, government policies on controlling the population are expected to contribute to market growth.
The government is investing heavily in spreading awareness of STDs and abortion and how they are avoided with the help of contraceptive drugs or devices. The government is also spreading awareness about family planning, which will ultimately help the government in population management. Furthermore, key pharmaceutical companies are investing heavily in research and development to upgrade contraceptive drugs and devices as there is an increased demand for safe and effective contraceptive measures. Therefore, these factors have contributed to the growth of this market.
The increase in the population, especially in the middle and low-income regions, has resulted in market growth, as there is a rise in the popularity of contraceptive measures. With the rise in awareness regarding sexual health and family planning, there is an increased demand for effective contraceptive measures that can help in dealing with unwanted pregnancies. Furthermore, urbanization and changes in lifestyle, such as delaying pregnancy due to professional goals, are adding to the growth of the market.
Global Contraceptive Drugs And Devices Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global contraceptive drugs and devices market report based on product and region.