India contraceptives (drugs & devices) market is expanding due to the country’s increasing efforts to reduce the growing number of unwanted pregnancies and related health complications and people’s increasing awareness about the benefits of contraceptives.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, forecasts India Contraceptives (Drugs & Devices) Market size to grow at a CAGR of 8.5% during the forecast period between 2022 and 2028. An increasing focus on reducing unwanted pregnancies and their repercussions is one of the primary growth drivers for the expansion of India contraceptives market. Unintended pregnancies impact about 85 million women worldwide each year, according to a study published in the BMC Pregnancy and Childbirth in 2021, with India accounting for more than one case in every seven of these cases. Furthermore, according to the same source, Uttar Pradesh, India’s most populous state (population of about 200 million), has double the country’s unwanted fertility rate. As a result, growing number of unwanted pregnancies is expected to drive the demand for contraceptive drugs and devices. Non-contraceptive medical disadvantages, such as treatment for extended monthly bleeding, menstrual cramps, and acne, affect about half of the women. This could be one of the most key factors driving market expansion.
India Contraceptives Market – Drugs and Devices
The contraceptive market in India is divided into two types: contraceptive medications and contraceptive devices. Contraceptive devices lead the entire contraceptive market in India in these two categories. Because of the convenience of use, the possibility to have contraception for a lengthy period, lack of side effects, and the capacity of some devices to prevent sexually transmitted illnesses are expected to be major growth factors for the contraceptive devices segment. Several types of contraceptive devices are used in the country, although condoms are the most common among people in India.
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Government’s role in Contraceptives Market
The Government of India and various non-profit organizations have been working to spread the knowledge about contraceptives and their benefits to avoid unwanted births and sexually transmitted infections (STIs). For example, under the government-sponsored Family Planning Program, IUDs, oral contraceptive pills, condoms, and emergency contraceptive pills are offered to low-income persons at reduced or no cost.
Vasalgel and Reversible Inhibition of Sperm Under Guidance (RISUG), two novel injectables for males, are predicted to have a beneficial impact on the country’s contraception industry.
Impact of COVID-19 on India Contraceptives (Drugs & Devices) Market
As a result of the coronavirus epidemic, millions of women and girls over the world had lost access to contraceptive and abortion options. Lockdowns, travel restrictions, supply chain disruptions, a significant diversion of health resources to combat COVID-19, and fear of infection have all contributed to an increase in unwanted pregnancies in India. Due to a lack of contraceptives, the rate of unsafe abortions in the country could increase significantly because of travel restrictions. Condom sales in the country decreased 48% during the lockdown period in 2020, according to a report by the Condom Alliance 2020, with an anticipated full-year decline of 35% for FY2021.
Competitive Landscape
The contraceptive drugs and devices market in India is competitive with multiple companies being a part of it. Few large competitors are currently dominating the market in terms of market share. Major organizations are aggressively pursuing acquisitions and joint partnerships with other businesses to strengthen their market position in the country. Prominent Players in India contraceptives (drugs & devices) market include Piramal Enterprises Ltd., Famy Care, Cipla, Hindustan Latex Ltd., Contech Devices, SMB Corp., Pregna, Agile Therapeutics, Janssen Global Services, LLC, CooperSurgical, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Viatris Inc., Amneal Pharmaceuticals Inc., Bayer AG, Pfizer Inc., Reckitt Benckiser Group plc, and Mankind Pharma.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Contraceptives (Drugs & Devices) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Contraceptives (Drugs & Devices) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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