Global contraceptives market is expected to reach USD 30.86 million by 2022, according to a new study by Grand View Research Inc. Growing prevalence of sexually transmitted infections (STIs), especially HIV and the introduction of new products exhibiting improved efficacy are expected to drive the contraceptives market over the forecast period. The presence of high unmet contraceptive needs coupled with the implementation of favorable government policies is expected to significantly contribute towards the growth of the contraceptives industry.
In 2014, contraceptives device was the largest product segment with revenue estimated at over USD 12.0 billion. Devices such as condoms and contraceptive sponges, which are relatively inexpensive and easy to use, are expected to spearhead market growth over the forecast period. Female condoms are also expected to gain penetration rates over the next seven years. Growing user awareness levels and improving product availability are two key factors expected to drive segment growth.
Further key findings from the study suggest:
- Condoms are identified as the most lucrative sub segment of the contraceptive devices market. Low prices and abundant product availability are two key factors expected to drive the condoms market over the forecast period. The fact that, condoms are effective in preventing sexually transmitted diseases and unwanted pregnancies is also expected to boost usage rates.
- Intrauterine devices, especially hormonal IUDs are expected to experience attractive growth over the forecast period. Growing demand for Mirena, Jaydess and Skyla and the commercialization of Liletta is expected to further drive segment growth.
- The North American contraceptives market accounted for the largest revenue share in 2014. Presence of sophisticated healthcare infrastructure, high user awareness levels and abundant product availability are key factors attributing to the region’s market position.
- Latin America is expected to spearhead future market growth. Numerous government programs and free distribution of samples within the region are expected to help manufacturers capitalize on the available opportunities.
- Asia Pacific is also expected to witness substantial growth during the forecast period owing to, rapidly rising population levels and the consequent rise in demand for contraception. Presence of government initiatives in countries such as India, China, Sri Lanka, Pakistan, and Bangladesh aimed at slowing down population growth and prevalence of STDs are expected to promote market growth.
- Key players of the contraceptives market include Reckitt Benckiser Plc, Mayer Laboratories, Actavis Plc, Church & Dwight, Pfizer Inc., Merck & Co., The Female Health Company and Teva Pharmaceuticals.
The global Contraceptives Market is estimated to develop at a substantial CAGR for the duration of the prediction.
The process of Contraception is thoughtful deterrence of pregnancy by way of interfering with standard procedure of ovulation, insemination, and imbedding by operating methods, medicines, blockades or medicinal devices.
This is credited to growing occurrence of sexually transmitted diseases, technical progressions in feminine contraceptive medications & apparatuses, growing inventiveness by NGOs and governments for the endorsement of contraceptives, and growing alertness among the public.
The Contraceptives on the source of Type of End Use could span Ambulatory Clinical Centers, Home-based Care, Private Clinic, Hospitals.The Contraceptives industry on the source of Type of Product could span Non-Surgical Permanent Contraception Devices, Intrauterine Devices, Contraceptive Sponges, Female Condoms, Male Contraceptive Devices, Topical Contraceptive Patch, Mini-pills, Oral Contraceptives, Sub-dermal Contraceptives Implants, Contraceptive Vaginal Rings, Contraceptive Diaphragms, Female Contraceptive Devices, Contraceptive Devices, Contraceptive Injectable, Combined Contraceptives, Contraceptive Drugs.The Contraceptives market on the source of Area with respect to Trades in terms of intake, Profits, Market stake and Development percentage in these areas, for the duration of the prediction could span North America [U.S.A, Canada], Europe [France, Spain, Germany, U.K., Italy, Russia], Rest of Europe, Asia Pacific [India, Japan, China, Australia, and New Zealand], Rest of Asia Pacific, Latin America [Mexico, Brazil], Rest of Latin America, Middle East & Africa [GCC nations, South Africa], Rest of Middle East & Africa.By the source of geography, North America was responsible for the mainstream of the stake of the international market during the past year.
The contraceptives industry in North America is estimated to keep up its top position during the course of the prediction owing to growth in alertness among the inhabitants, increase in acceptance of fresh contraceptives, and growth in occurrence of sexually transmitted sicknesses for example HIV/AIDS.
The development of this market is mostly owing to stress-free obtainability of contemporary contraceptives and recompense facility for extended period changeable contraceptive action.
COVID-19 Impact Analysis on Hormonal Contraceptives Market report published by Value Market Research provides a detailed market analysis comprising market size, share, value, growth and trends for the period 2020-2027.
The report encompasses data regarding market share and recent developments by key players.
Moreover, this market report also covers regional and country markets in detail.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the hormonal contraceptives market include Female Health Company, Teva Pharmaceutical Industries Limited, Bayer AG, Pfizer, Inc., Mylan N.V., Johnson & Johnson, Ansell LTD., Mayer Laboratories, Merck & Co., Inc., and Church & Dwight, Co., Inc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Hormonal Contraceptives Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/hormonal-contraceptives-market/download-sampleMarket DynamicsIncreasing awareness related to the use and benefits of hormonal contraceptives, especially in emerging economies, and increasing incidence of unwanted pregnancies are acting as key drivers for global hormonal contraceptive market growth.
However, the side effects of hormonal contraceptives, availability of hormone-free contraceptives, preference for biologics, and lack of social acceptability are restraining hormonal contraceptive market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
