Healthcare
Global Contraceptives Market Research and Forecast 2018-2023
Global Contraceptives Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2018-2023
Contraceptives are referred to drugs and devices that are used to alter or avoid the normal process of fertilization in the body, in order to prevent or reduce the probability of pregnancy. The contraceptive drugs, surgical procedures, and medical devices are used to provide a barrier and inhibit the chances of unintended pregnancy, including sexually transmitted diseases. A range of contraceptives devices and treatments are available for both women and men that can be used to prevent pregnancy. The contraceptives are available in the form of pills, patch, injectables, coil, loop, and T-shaped devices, and are mainly made up of plastics or metals. Global contraceptives market is expected to grow rapidly due to increasing adoption of contraceptive drugs and devices in the emerging economies such as India and China. Major drivers involved in the growth of the market are rising prevalence of sexually transmitted diseases globally and increasing significance of family planning in the Asia Pacific. At the same time, the substantial increase in the investments in print advertisements and digital advertisements is significantly contributing in the growth of the global contraceptives market. The side effects associated with the contraceptive drugs and devices is the major factor hampering the market growth. Moreover, the growing geriatric population and rising prevalence of infertility among women due to sedentary lifestyle are some other factors that are restraining the growth of the global contraceptives market. However, the increasing demand for affordable contraceptives method, which includes Sino-Implants and introduction of novel contraceptive methods such as SILCs diaphragms is expected to fuel the market growth in the near future.
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Contraceptives Market
The contraceptives market can be segmented on the basis of product type, distribution channel, and end users. Based on product type, the market is segmented into contraceptive drugs and contraceptive devices. Contraceptive drugs can be further segmented into oral contraceptives, contraceptive injectables, topical contraceptive patch, and others (contraceptive gels, jellies, and cream). Contraceptives devices can be categorized into male contraceptive devices and female contraceptive devices. Female contraceptive devices can be segmented into female condoms, contraceptive diaphragms, contraceptive sponges, contraceptive vaginal rings, intrauterine devices (IUDs), sub-dermal contraceptive implants, and non-surgical permanent contraceptive devices. Based on the distribution channel, the market is segmented into hospital pharmacy, retail stores, e-commerce, and others (fertility centers). Based on end users, the market is diversified into hospitals, household, clinics, and ambulatory surgical centers. Among the type of products, the contraceptive devices segment holds the largest market share in the global contraceptives market. This is majorly attributed to the wide adoption of male and female condoms across the globe. These contraceptive devices are easy-to-use, inexpensive, and consists of least side effects, which in turn, increases its demand among the youth across the globe.
The global contraceptives market is further analyzed on the basis of the geographical regions that are contributing in the growth of the market. North America contributes the largest market share in the global contraceptives market. This is mainly owing rapid development in the contraceptive methods in the region. Moreover, the supportive government regulations and initiatives taken by the regulatory bodies to increase awareness regarding the sexually transmitted diseases are some other factors that are significantly fueling the market growth. Asia Pacific is projected to be the most opportunistic region in the global contraceptives market over the forecast period. This is due to favorable family planning policies led by the government and introduction of various reimbursement policies such as the AIDS care policy is expected to positively impact the revenue of contraceptives market in the region.
Some of the key players operating in the global contraceptives market are Allergan, Bayer AG, Church & Dwight Co., Inc., Cipla Limited, CooperSurgical Inc., Mankind Pharma, Merck & Co., Inc., Pfizer Limited, Teva Pharmaceuticals, Inc., and The Female Health Company Ltd., among others. In order to sustain in the competitive market, these players adopt various strategies such as acquisitions, mergers, expansions, joint ventures, and product development, among others. For instance, in July, 2018, the Government of India has launched an app “Antararaj” in the states of India. The app will enable user in the tracking of the usage of contraceptive services, which in turn, will minimizes the chances of drop-out.
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