Fortune Business Insights in a new report, titled “Contraceptives Devices Market: Global Market Analysis, Insights and Forecast, 2018-2025” predicts the market to exhibit a CAGR of 6.0%. The report further calculated the value of the contraceptives devices market as US$ 7013.8 Mn in the year 2018 and expected the market to reach US$ 11166.4 Mn by 2025.
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Top Leaders Overview:
Some of the leading companies in the Global Contraceptives Devices Market are
- Bayer Pharmaceuticals
- The Janssen Pharmaceutical Companies of John
- Teva Pharmaceuticals
- RECKITT BENCKISER GROUP PLCVeru Inc.
- Medisafe® Medication Management Platform
Adverse Effects of Contraceptives and their Limited Supply May Restrict the Market’s Growth
Although the use of contraceptives is increasing, there are some risks associated with the use of the same. These risks include infections which compe people to opt for permanent contraception methods. Also, there are millions of men and women who don’t use contraceptive devices owing to their limited supply. Not all countries have access to contraception, which limits the growth of the contraceptive devices market.
Initiatives by Several Players Aimed at Sustaining Competitive Advantage to Bode Well
Some of the key players present in the global contraceptives devices market are Janssen Pharmaceutical Company, Allergan plc, Veru Inc., Pfizer Inc., Teva Pharmaceuticals Industry, Mylan, Medisafe Distribution Inc., and Reckitt Benckiser plc. Several companies are taking initiatives to sustain in their competitiveness in the market for contraceptive devices. Furthermore, companies are creating awareness programs to encourage the use of contraceptives. These companies also provide different types of birth control devices at affordable rates to maintain their market share. For instance, Tera Pharmaceuticals in November 2017 signed an agreement with another company called CopperSurgical with an aim to acquire an intrauterine copper contraceptive called Paragard. Such strategies adopted by the leading players are expected to boost the global contraceptive devices market in the coming years.
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