Contraceptive Devices Market to Be Dominated by Female Contraceptive Segment Through 2027
The rising prevalence of STDs and growing
awareness of people to drive the demand for Contraceptive Devices Market in the
forecast period, 2023-2027.
According to
TechSci Research report, “Contraceptive Devices
Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, The global contraceptive devices market is expected
to grow at an impressive rate in the forecast period, 2023-2027. The rising
prevalence of STDs and growing awareness of population control are the primary
reasons for the growth of contraceptive devices. The high absorption rate,
changing trend of participation of reproductive women in the labor force, and
government initiatives are additional reasons for the market growth. According
to WHO, in 2019, there were 1.9 billion women of reproductive age group globally.
Out of them, 1.1billion needed family planning. Thus, the demand for contraceptive
devices is expected to increase for population control as the government is
supporting the awareness campaign to help them. Different initiatives are
running over the country to stop the spread of STDs and population control.
This initiative will lead to an increase in demand for the contraceptive device
market.
Apart
from drivers, the side-effect of contraceptive devices is creating hurdles in
growth for the upcoming year. As it is a growing market, the different market
players are investing in the research and development of product that doesn’t
harm the user. Furthermore, a high absorption rate, rise in disposable income,
population control, and effort by the market player are expected to influence
the market. Thus, the abovementioned factors will drive the growth, directly
impacting the Contraceptive Devices Market growth. In 2020, The fertility
rate in United States Fertility Rate was 1.78 per person. The above data shows
that people are quite serious about family planning and take precautions to
avoid pregnancy. Thus, the United States Contraception market will experience
growth in the projected year due to their awareness and increasing population.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "CONTRACEPTIVE DEVICES MARKET"
The global Contraceptive
Devices market is segmented based on product type, distribution channel, and
end user.
Based on the
product type, the market is divided into condoms, diaphragms, cervical caps,
sponges, vaginal rings, intrauterine devices (IUDs), and others. The condoms
segment is expected to hold the largest market share in 2022. A condom is a
barrier device used to reduce the probability of pregnancy and STDs. Due to its
easy availability, fewer side effect, and cost-efficient, condoms are in more
demand in this segment.
Based on the
distribution channel, the market is distributed into hospital pharmacies,
retail pharmacies, and online pharmacies. As per estimates, the hospital
pharmacies segment is going to experience the highest market share during the
forecast period. As the large number of patients facing the problem visit
hospital for consultancy and active government initiative for distributing
Contraceptive are supplied through government pharmacy channel make this
channel dominated segment.
Based on
end-user, the market is split into males and females. The female contraceptive
segment is expected to experience a significant market share over the next
projected years. As per Who in 2020, almost 214 million women of reproductive
age are planning to get delayed pregnancy. Due to more female contraceptive
methods like diaphragms, intrauterine devices, vaginal rings, and others,
demand for the contraceptive device is expected to increase in the projected
year to dominate the market.
Major
operating companies operating in global Contraceptive Devices Market are:
- Cooper Surgical, Inc.
- Pfizer, Inc
- Merck & Co Inc
- AbbVie, Inc
- Teva Pharmaceutical Industries Limited
- Ansell Ltd
- Bayer AG
- Mayer Laboratories Inc
- Church & Dwight Co Inc
- Reckitt Benckiser Group plc.
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"The North
American region is expected to dominate the market in the coming years due to
people's awareness, growing incidence of STDs, and family planning. In 2020,
the USA will spend 4.1 trillion on healthcare, which means $12,500 per person
in the country, and trying to reach 6.2 trillion by 2028. This increasing trend
or figure of spending on healthcare indicates an increase in market share. In
addition, various possible initiatives and campaigns are running in the US
under STI national strategic plan to control STDs and the growing population.
Thus, these factors are going to increase the demand for contraceptive devices.
Following North America, the Asia-Pacific region is expected to be the second
largest market size in the projected year and will experience the highest
market growth throughout 2027.
According to
the WHO, on average, 1 out of 25 people globally are facing STDs which may be
one STI or multiple infections at the same time means 4% of the global
population are suffering from any STDs. Thus, treatment and to stop spreading
the growth of contraceptive devices can be experienced. Furthermore, high
absorption rate, rise in disposable income, population control and effort by
the market player are expected to influence the market are the reason expected
to impact market growth and create favorable conditions to propel the global
Contraceptive Devices Market growth till 2027.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Contraceptive Devices Market- Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented
By Product Type (Condoms, Diaphragms, Cervical Caps,
Sponges, Vaginal Rings, Intra Uterine Devices (IUDs), and Others), By Distribution Channel (Hospital Pharmacies, Retail
Pharmacies, Online Pharmacies, and Others), By End User (Male, and Female),
By Company, By Region, has
evaluated the future growth potential of global contraceptive devices market and
provides statistics & information on market size, structure, and future
market growth. the report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global contraceptive devices market.
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