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Report: Contraceptives Market is Determined to touch $38,500.5 Mn by 2025

Author : Rahul Sankrityayan | Published Date : 2019-03-15 

The Contraceptives Market is set to exceed USD 38,500.5 million by 2025; according to a new research study published by Global Market Insights, Inc. Rising prevalence of sexually transmitted diseases, favorable regulatory scenario in developed nations, increasing delayed pregnancy trend and high unmet contraceptive needs in developing economies will serve as high impact rendering factors for the contraceptives market growth. Increasing government initiatives to raise awareness to prevent unintended pregnancies and growing population base creating massive demand for contraceptives will stimulate business growth over the coming years. Growing late pregnancy choice, rising burden of HIV epidemic coupled with demand for reproductive health and modern contraception will propel the industry growth.

In 2015, globally 64% of in-union or married women of fertile age were using some mode of contraception. Nevertheless, contraceptive use was much lesser in the under developed countries and was particularly low in Africa where only 33% of women are projected to use the products so far. High unmet needs in developing nation will fuel the market size. Demand for contraceptives would rise owing to rising numbers of new HIV infections in many countries over the coming years. Growing geriatric population across European nations coupled with rising incidence of lifestyle disorders will induce infertility eventually reducing the demand for contraception products. Moreover, concerns regarding the side effects of products can negatively impact the product demand in future.

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Speaking of Asia Pacific, the sub-continent of India falls among the list of countries that is currently over-populated. The population of the country, as of 2016, is reportedly over 1.3 billion. On these grounds, the Indian government has implemented several social programs to deliver contraceptives directly to communities. The government has also made efforts to recruit Accredited Social Health Activists (ASHAs) for delivering contraceptives at the doorstep. Many programs so far, have apparently witnessed enormous success, positively influencing community-based family planning, which would eventually boost India contraceptives industry trends.

Currently, numerous contraceptives market giants and regulatory bodies have been striving to bring about a transformation in the product landscape of this business sphere. The Food and Drug Administration (FDA) for instance, has revealed a list of 51 contraceptives for re-certification based on the parameters of safety and non-abortifaciency. Even in the U.S., the California Health Benefits Review Program (CHBRP) has enforced a federal contraceptive mandate – the Affordable Care Act (ACA). On these grounds, the Trump administration has released two interim rules related to ACA’s contraceptive coverage requirement, which would provide a boost to U.S. contraceptives market trends. Considering the strict outlook that regulatory bodies have toward newly developed products, contraceptives industry players such as Merck & Co., Pfizer, Mayer Laboratories, Cooper Surgical Inc., Teva Pharmaceutical Industries, Actavis, Reckitt Benckiser, and Church & Dwight Co. have also been heavily investing in research and development activities, thereby impelling this business sphere.

Contraceptive devices hold major market share and valued around USD 16,659.0 million in the year 2018. The growth is attributed to more effectiveness and long-term effect. The segment is rapidly adopted worldwide and will continue to grow during the forecast period. Some of the commonly used devices are condoms, diaphragms, sponges, rings, sub-dermal implants and intrauterine devices (IUD). Condoms are most popular choice worldwide and hold largest market share. Copper IUD is mainly preferred by the women who do not wish to use hormonal form to avoid possible side effects.

Contraceptive drugs will witness robust growth at 4.8% over the projection period. The major reasons for the growth of the market will be rising prevalence of STDs and lack of family planning. Favourable regulatory scenario and awareness programs will strengthen segment growth. Various forms of drugs include hormonal oral pills, topical and injectable contraceptives. Oral pills market held major revenue share due to high consumption rate. Daily consumption of these pills facilitates acne reduction, reduces cramping during periods, and minimizes the risk of developing cervical & endometrial cancers powering the overall market growth. However, irregular bleeding, increased risk of developing sexually transmitted infections (STIs), nausea, and migraine are some of the disadvantages related with oral pills eventually hampering segment growth.

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Some of the companies functioning in the market are Actavis, Cooper Surgical, Reckitt Benckiser, Merck, Pfizer, Church & Dwight, Teva Pharmaceutical Industries, Mayer Laboratories and The Female Health Company. New product launches, increasing R&D investments, mergers and acquisition, geographical expansion will fuel the business growth. Leading business players will endeavor to reinforce their position in this competitive market by implementation of these strategies.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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