The worldwide contraceptives
market was estimated at about
USD 15.7 billion in 2013. It is anticipated to attain around USD 19.6 billion
by 2020. The market is predicted to record a CAGR of around 3.1 percent during
2014 to 2020. Contraceptives refer to
devices and drugs which help avoid pregnancies and also protect from sexually
transmitted illnesses. Governmental initiatives to take care of population
growth and endorse safer sex are the two main elements driving the
contraceptives market further.
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Also, different
consciousness initiatives by participants of the market are another prime
factor, driving further growth of contraceptives. The market is projected to
rise profitably through the forecast phase. This is on account of increased
demand for population control and rising sexually transmitted diseases.
Additionally, enforcement of initiatives intended at curtailing medical
expenses connected with unplanned pregnancies and consequent increasing
consciousness levels are also anticipated to drive the contraceptives market
ahead.
Sectors
The worldwide
contraceptives market is segmented on the basis of two sectors. These include
products and geographical regions. The products market consists of drugs and
devices. Drugs contain injectables, topical contraceptives and oral
contraceptive pills.
Devices encompass
female condoms, male condoms, vaginal rings, sub-dermal implants, intrauterine
devices, diaphragms, and non surgical permanent contraception devices.
On a geographical
basis, the contraceptives market is fragmented on account of Asia Pacific,
Europe, rest of the world and North America.
Leaders
Devices occupied the
biggest share in the products market in 2013. They accounted for nearly 60
percent of the entire contraceptives market that year. The lucrativeness of
this sector is credited to wide acceptance of male and female condoms, copper
IUDs and sino implants. Condoms are great means of preventing unwanted
pregnancies and HIV infections. This factor propels their use in men. Also,
augmented consciousness regarding sexually transmitted diseases increases the
use of contraceptive devices.
Subdermal implants
possess massive prospectives to meet the demands of women in family planning.
The IUD segment occupied one of the biggest shares in the products devices
contraceptives market in 2014. This was due to escalated demand for these
devices in Asia Pacific and Europe. Amplified gynecologists choosing such
devices for their patients are also a major factor, driving this segment
forward during the forecast phase.
Out of the four
regions in the worldwide contraceptives market, North America occupied the
biggest share in 2014. The region accounted for more than 30 percent share.
This was because of growing abortion cases, augmented women population in the
age group of 15-44 years and high patient consciousness in the region. The
European contraceptives market also occupies a major share. This share is with
respect to subdermal implants and IUDs.
The Latin American
contraceptives market is anticipated to rise quickly in the coming years. This
is owing to huge unexplored prospects and continually improving medical
infrastructure. Rising patient consciousness and fiscal growth are also
responsible for enhancing the status of the Latin American market. Supportive
governmental initiatives in relation to sex education are a vital success
component, expanding the contraceptives market further during the coming years.
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