The global contraceptives drugs devices market size is projected to expand at a substantial CAGR during the forecast period. The growth of the market is attributed to the increasing patient awareness huge untapped opportunities, economic development, and continuous improvement of health infrastructure.
Contraception is the prevention of pregnancy through the use of drugs, barriers, medical devices, and surgical methods to interfere with ovulation, implantation, and fertilization. These drugs are drugs that inhibit sexually transmitted diseases. The increasing prevalence of sexually transmitted diseases such as gonorrhea, chlamydia, hepatitis B, and HIV worldwide is one of the key factors driving market. Some governments in developed and developing countries are also carrying out advocacy activities and promoting the use of effective contraceptives, especially in rural areas, to control populations and prevent the spread of sexually transmitted diseases. This has led to a significant increase in the demand for easy-to-use, removable, and inexpensive contraceptives.
The contraceptive market has multiple distribution channels, including hospital pharmacies, retail pharmacies, clinics, online channels, community channels, and non-governmental organizations. Contraceptive measures for healthcare professionals and the government’s active support for the distribution of contraceptives through government-subsidized hospitals the market is expected to grow significantly in the next few years.
Market Trends, Drivers, Restraints, and Opportunities
- Rising adoption of contraceptive devices for preventing unwanted pregnancy and focus on family planning is expected to boost the market during the forecast period.
- Rapid growth of the contraceptive industry owing to free distribution of contraceptive devices in hospitals, villages, and government initiatives is major factors fueling the market.
- Increasing awareness among females about health effects on teenage pregnancies and demand for oral pills is anticipated to drive the market during forecast period.
- High risk of health effects associated with use of contraceptive devices such as hormonal imbalance and availability of alternative contraceptive methods is projected to restrict the market growth.
- Lacks of awareness and social acceptance on the use of contraceptive devices act as major factors that can hamper the market growth during the forecast period.
- R&D investment and development in contraceptive products to minimize the health effects after consumption is expected to offer significant opportunities for the market players.
Scope of the Report
The report on the global contraceptives drugs devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Contraceptives Drugs Devices Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Oral Contraceptives, Topical Contraceptives, Contraceptive Injectable)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Bayer AG; Pfizer Inc.; Merck & Co. Inc.; Teva Pharmaceuticals Ltd; Agile Therapeutics; Allergan PLC; Ani Pharmaceuticals Inc.,
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Market Segment Insights:
The oral contraceptives segment holds major market share
Based on types, the global contraceptives drugs devices market is segregated into oral contraceptives, topical contraceptives, and contraceptive injectable. The oral contraceptives segment is estimated to expand at a high CAGR during forecast period. The oral contraceptive tablets are widely regarded as the most convenient way of contraception. If used within 2-3 days of having risky sexual contact, they prevent implantation within the uterus. Their ease of use makes them an excellent contraceptive in the market. These are widely promoted by global firms over huge regions, and hence easily eaten by huge population of the world. According to the World Bank's 2017 survey report, the global fertility rate in 2017 was 2.43 children per woman, down from 2.45 children per woman the previous year.
The market in North America is projected to hold a major market share
In terms of regions, the global contraceptives drugs devices market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is projected to develop rapidly, due to modern healthcare infrastructure, high usage of contraceptive medicine, and growing number of government initiatives aimed at expanding the market. As a result, a large portion of the population is at risk of unintended pregnancy because their partners do not utilize contraception properly and consistently. The public is well-informed about these products, and numerous hospitals have stepped in to help patients who have been harmed by their misuse.
Segments
Segments Covered in the Report
The global contraceptives drugs devices market is segmented on the basis of
Types
- Oral Contraceptives
- Topical Contraceptives
- Contraceptive Injectable
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Bayer AG
- Pfizer Inc.
- Merck & Co. Inc.
- Teva Pharmaceuticals Ltd
- Agile Therapeutics
- Allergan PLC
- Ani Pharmaceuticals Inc.
Competitive Landscape
The major players in the contraceptives drugs devices market include Bayer AG, Pfizer Inc., Merck & Co. Inc., Teva Pharmaceuticals Ltd, Agile Therapeutics, Allergan PLC, Ani Pharmaceuticals Inc.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
