The contraceptive market is expected to grow in Southeast Asia, driven by informed individuals' increasing awareness of health issues and a trend of having no children, says OLIC (Thailand) Ltd, a subsidiary of Japan's Fuji Pharma.
The women's contraceptive market in Southeast Asia was valued at 6 billion baht in 2023, with Thailand anticipated to account for half of the market value, according to OLIC (Thailand).
Yoshihiro Takada, managing director of OLIC (Thailand), said with the region's population on the rise and incomes increasing, he expects people will gain greater access to health information, including pregnancy.
This could create demand for contraceptive options in the region, he said.
"The Southeast Asian market is expected to grow this year," said Mr Takada, though he did not specify a projected market value.
Pannavich Chitmetheepong, director of the pharma business unit of OLIC (Thailand), said women in Thailand are increasingly focused on health-related issues.
Data from the social outlook report for the first quarter of 2024 from the National Economic and Social Development Council revealed 40% of Thais in the reproductive age of 15-49 remain single.
The report indicated the increase in single status is attributed to several factors, including changing social norms and emerging lifestyles such as the "Single Income, No Kids" trend.
Mr Pannavich said the growing preference to remain married and childless is the result of prioritising financial stability over the cost burden of having a child.
He said this shift offers a potential opportunity for the contraceptive market, particularly for birth control hormones.
Mr Pannavich said the company launched a natural oestrogen combined oral contraceptive in Thailand.
This product with other drugs, such as endometriosis medication, will target Thai and Southeast Asian markets, said Mr Takada.
