New Product Development to Spur Contraceptives Demand

23 June 2020: Contraception is a deliberate prevention of pregnancy by interfering with the normal procedure of fertilization, ovulation, and implantation by using drugs, barriers, surgical techniques, or medical devices. Development of products such as vaginal rings, self-administrative contraceptive injections, sub-dermal contraceptive implants, non-surgical permanent contraception devices, etc. is the emerging trend in the market. The contraceptives products are in the market for more than 50 years and are mainly used by 100 million women worldwide. 

Product Insights: 

The major product variants of the contraceptives market include Contraceptive Drugs (Topical, Contraceptive Pills, and Injectables), and Contraceptive Devices, (Vaginal Implants, Female Condoms, Male Condoms, Diaphragms, Subdermal Implants, IUDs (Hormonal IUD, and Copper IUD) and Sponges). 

The Male and female condoms, subdermal implants, sponges, vaginal implants, IUDs, and diaphragms are significant devices and estimated to account for the major share of the market in terms of revenue. The growth of this segment is attributed to the increase in the consciousness level about the sexually transmitted disease (STD) and efficiency of condoms to avoid the infections, including HIV.

The most accepted form of long-acting reversible contraception comprises intrauterine devices (IUDs). The intrauterine devices (IUDs) sector is one of the largest shares of the market on account of increasing demand in the Asia Pacific and Europe region. The growing number of gynecologists advising for these devices for contraception is anticipated to propel this segment over the forthcoming period. The Mirena, a hormonal IUD, is extensively used in North America and is anticipated to sustain the growth of the contraceptives market. 

Market Insights: 

Competition in the contraceptive industry is anticipated to grow moderately in the forthcoming period. The contraceptives making companies are under constant pressure to introduced technologically advanced and new products.

In order to withstand the market, these companies accept numerous strategies such as expansions, acquisitions, new product development, mergers, and joint ventures, among others. For example, in July 2018, the Government of India introduced an app “Antararaj” in the states of India. The app will allow users to track the usage of contraceptive services, thereby also reducing the chances of drop-outs.

Leading players operating in the contraceptives market include Teva Pharmaceutical Industries; Pfizer Inc.; Merck & Co; Reckitt Benckiser Plc; Church & Dwight; Mayer Laboratories; Actavis plc; Cooper Surgical; and The Female Health Company.