According to Acumen Research and Consulting, the global contraceptives market size is estimated to grow at CAGR above 7% over the forecast time frame. Augmenting population, various programs in order to meet the requirement of modern contraception, rapid clinical development, improved contraceptive choices, emergence of advanced contraceptive methods, increase in the occurrences of sexually transmitted diseases, increasing government initiatives in order to support responsiveness towards unplanned pregnancies are some of the key factors that are supplementing the contraceptives market growth across the globe. First mile means the transfer of various products from a vendor to a courier service or to anyone who is wanted to move goods to their final users. The North America market is projected to grow at noteworthy growth rate over the forecast period due to the rise in the awareness among the people and growth in occurrences of sexually transmitted diseases. Continuously changing lifestyle and increase in the trend of postponing child behaviour are playing the major roles in the growth of regional contraceptives market.
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Contraceptive Devices Segment is Anticipated to Witness a High Demand over the Forecast Period
On the basis of product, the global contraceptives market is bifurcated into drugs and devices. In terms of devices, the market is further segmented into condoms, vaginal rings, contraceptive sponges, diaphragms, subdermal implants and intra-uterine devices. Contraceptive Devices segment is anticipated to dominate the global market over the forecast period owing to the more effectiveness and long-term effect of these devices. The segment is increasingly adopted across the world and also will continue to grow rapidly over the forecast period. Some of the commonly used contraceptive devices are condoms, sponges, diaphragms, sub-dermal implants, rings and intrauterine devices. Condoms are most popular choice across the globe and expected to contribute highest revenue share during the forecast period. Furthermore, male condoms are broadly used and are considered as first line of protection across the world. Advantages offered by these devices such as affordable cost, prominent level of protection easy to use and smallest amount of side effects among all the other devices are some of the factors positively influencing the segmental growth during the forecast period. Additionally, growing demand of IUD’s due to high degree of effectiveness will offer considerable segment growth.
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North America to Continue to Dominate the Global Contraceptives Market during the Forecast Period
On the basis of geography, the global contraceptives market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is expected to have uppermost market share in the global contraceptives market. Asia Pacific is forecasted to grow at highest CAGR over the forecast period owing to the rise in the awareness among the people and growth in occurrences of sexually transmitted diseases. U.S. contraceptives market is anticipated to grow at a considerable rate over the forecast period. Rising awareness about contraceptives and large number of advantages offered by contraceptive methods resulting in increased usage is expected to fuel the market growth. The increasing incidences of unintentional pregnancies and increase in the adoption of modern contraceptives among the teenagers are the key factors that are anticipated to improve the growth of the North America contraceptives market. Asia Pacific is also anticipated to grow at highest CAGR over the forecast period owing the huge population and young population base in the region. Rising occurrences of STDs, increasing awareness towards sexual diseases and birth control methods, enhancing healthcare infrastructure will drive the China contraceptives market throughout the forecast period. Also, growth in the alertness about sexually transmitted diseases and benefits offered by contraceptive products are expected to boost contraceptive market in the region.
Teva Pharmaceutical Industries Ltd., Cipla Inc. and Life care Limited are Likely to Continue to Lead the Global Contraceptives Market
The contraceptives market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes company overview, major business strategies and revenues. The key players of the market are Merck Co. Inc., Mithra Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Cipla Inc., Janssen Pharmaceutical Company, Pfizer Inc., Allergan plc, Mankind Pharma, Bayer AG, HLL Lifecare Limited, and Reckitt Benckiser plc.
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