The global contraceptives market, valued at US$ 20,111.6 Mn in 2017, is set to jump to US$ 31,666.9 mn by 2025, according to a report published by Fortune Business Insights, titled “Contraceptives Market Size, Share and Global Trend By Product Type (Contraceptive Drugs & Contraceptive Devices), By Gender (Male & Female), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channel, Public Channel & NGO & Others), and Geography Forecast till 2025”. The report analyses various factors and estimates that the market will display a healthy CAGR of 5.9% during the forecast period.
Contraceptives, in basic terms, refer to a basket of methods, devices, drugs, procedures that are used for birth control. These devices enable a man and woman to enjoy a healthy sex life without the fear of pregnancy. Some commonly used contraceptive techniques include the use of contraceptive pills, copper IUD, hormonal IUD, condoms, injections, diaphragm, and cervical cap.
Key Players Covered in the Global Contraceptives Market:
- Bayer AG
- The Janssen Pharmaceutical Companies of Johnson
- Merck, Teva Pharmaceuticals
- Reckitt Benckiser plc
- Mylan Laboratories Limited
- Church & Dwight, Co.
- Medisafe Distribution Inc
- The Female Health Company
Rising Awareness of Family Planning Benefits to Propel Growth
The WHO estimates that around 214 million women in the reproductive age bracket in developing nations wish to avoid pregnancy and are aware of contraceptive methods. The global contraceptives market growth is premised on the increasing awareness in emerging nations where governments are taking active efforts to curb the population growth. For example, in India, the government has launched a National Program for Family Planning to spread awareness about the importance of family planning, especially on the health of the woman. Informed planning can save the woman from unwanted pregnancies, unsafe abortions, and early-age childbearing.
Need for Containment of Spread of STDs to Boost the Relevance of Contraceptives
The global contraceptives market revenue is set to get a boost owing to the fact that contraceptive devices such as condoms can effectively protect against contracting sexually transmitted diseases (STDs). For example, research by the Centre for Disease Control and Prevention reveals that STDs spread through skin-to-skin contact, such as herpes and syphilis, can be prevented using condoms. Rising prevalence of STDs, especially HIV, have necessitated the use of contraceptives. The global contraceptives market stands to gain from this development.
Risk of Possible Side-Effects May Hinder Market Growth
Despite their apparent benefits, contraceptives can have certain disadvantages as well. For example, hormonal implants require a minor surgery, may infect the area where the implant has been done, and does not protect against STDs. Similarly, copper IUDs can cause infection and do not offer protection from STDs. These factors can negatively hamper the global contraceptives market till 2025.
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