Pune, Aug. 23, 2022 (GLOBE NEWSWIRE) — The global contraceptive devices market is expected to clock US$ 23.72 billion by 2030 owing to the expanding number of government efforts that help to expand the overall market, high acceptance rate of contraceptive devices, and the rising frequency of STDs.
Market Driver
One of the main factors boosting the market’s expansion is the rising incidence of STDs like gonorrhoea, chlamydia, trichomoniasis, hepatitis B, and HIV/AIDS around the world. A further factor driving market expansion is the general public’s growing awareness of the available options for avoiding unpredicted pregnancies. In order to control population growth and stop the spread of STDs. The governments of both developed and developing countries are launching programmes to raise knowledge about and promote the use of effective contraceptives, particularly in rural regions, as a result the demand has increased significantly.
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Report Scope & Segmentation:
Report CoverageDetailsMarket Size in 2021USD 12.9 billionRevenue forecast in 2030USD 23.72 billionGrowth RateCAGR of 7.0% from 2022 to 2030Base year for estimation2021Forecast period2022-2030Segments coveredProduct Type, Technology, Distribution ChannelRegional scopeNorth America, Europe, Asia Pacific, and the Rest of the World (ROW)
Excerpts from ‘By Product Type Segmentation’
On the basis of product type, the global contraceptive devices market has been segmented into:
Female Contraceptive DevicesMale Contraceptive Devices
Female contraceptive segment dominated the global contraceptive market because of huge presence range for female contraceptive methods, including diaphragms, intrauterine devices, subdermal implants, vaginal rings, and others, are readily available. The market for contraceptive devices is also anticipated to grow as more women throughout the world take advantage of contraceptive techniques like IUDs, sterilization, and female condoms. For instance, according to the UN Department of Economic and Social Affairs, 922 million women worldwide who are of reproductive age used contraceptives in 2019,
According to the World Health Organization, in developing regions, 214 million women of reproductive age intended to delay getting pregnant as in July 2020. Additionally, between 2015 and 2019, it was discovered that almost half of all pregnancies were unwanted. Consequently, there is a significant need for female contraceptive device market which ultimately is going to increase demand for the market.
Excerpts from ‘By Region Segmentation’
Based on the region, the global contraceptive devices market has been segmented into:
North AmericaEuropeAsia PacificRest of the World
Due to the high number of unexpected pregnancies, the introduction of the Affordable Care Act in the U.S., and the widespread use of contraceptive devices in the region, North America dominates the global contraceptive devices market. The expansion of the contraceptive devices market in North America has been significantly attributed to favourable reimbursement policies for contraceptives by large insurance companies for all federal employees (U.S.) and their families. One of the world’s largest consumers and suppliers of contraceptives is the United States. Since more than 50 years ago, the government has participated in international family planning/reproductive health (FP/RH) initiatives and is the leading donor in this area globally. Additionally, the U.S. has recently expanded its financing for FP/RH. For instance, the United States provided over US$ 608.0 million for FP/RH in 2020, including support for the UN Population Fund (UNFPA). These actions should benefit market expansion, according to expectations.
During the projected period, the Asia Pacific contraceptive devices market is anticipated to develop at the fastest rate due to factors including the region’s high population, rising disposable income, increased knowledge of contraceptives’ benefits for avoiding pregnancy and STDs, and the countries’ strong economic growth. Industry leaders who have greater distribution networks and more research funding have consolidated their positions in the market under forecasted period. In addition, as a result of increased awareness, small players have been emerging in Asia-Pacific region.
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Excerpts from ‘Competitive Landscape’
Some of the key players operating the market global contraceptive devices market include:
Pfizer, IncMerck & Co IncAbbVie, IncTeva Pharmaceutical Industries LimitedAnsell LtdBayer AGThe Cooper Companies IncVeru IncMayer Laboratories IncChurch & Dwight Co Inc
To grow their market share and survive in the fiercely competitive market, these firms put their efforts into developing numerous awareness campaigns and offering contraceptives at reasonable costs.
Table of Content:
INTRODUCTION Market Ecosystem Timeline Under Consideration Historical Years – 2020Base Year – 2021Forecasted Years – 2022 to 2030 Currency Used in the Report RESEARCH METHODOLOGY Research ApproachData Collection MethodologyData Sources Secondary Sources Primary Sources Market Estimation Approach Bottom Up Top Down Market Forecasting ModelLimitations and Assumptions PREMIUM INSIGHTS Current Market Trend (COVID-19 Perspective)Key Players & Competitive Positioning (2021) MARKET DYNAMICS DriversRestraintsOpportunities GLOBAL CONTRACEPTIVE DEVICES MARKET- ANALYSIS & FORECAST, BY PRODUCT TYPE Female Contraceptive Male ContraceptiveGLOBAL CONTRACEPTIVE DEVICES MARKET – ANALYSIS & FORECAST, BY TECHNOLOGY Hormonal Contraceptive ImplantVaginal RingContraceptive Patches Others Barrier contraceptive Condoms DiaphragmsCervical CapsSpongesIntra Uterine device (IUD)Others GLOBAL CONTRACEPTIVE DEVICES MARKET – ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL Hospital PharmaciesRetail PharmaciesOnline PharmaciesPublic Channel & NGOs
TOC Continued..
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Discovered on: 2022-08-23 00:00:00
Source: Contraceptive Devices Market Size to Hit US$ 23.72 billion
