Portland, OR -- (SBWIRE) -- 02/21/2018 -- Contraceptive methods for home use are effective and convenient, owing to the cost-effectiveness of these products. Advancements in the contraceptive techniques and launch of awareness programs by government agencies and other regulatory bodies to increase household usage of contraceptives drive the markets in the Asia-Pacific and LAMEA regions.

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The global contraceptives market generated a revenue of $28,175 million in 2015 and is estimated to reach $43,812 million by 2022, registering a CAGR of 6.4% during the analysis period. Contraception is a method of preventing pregnancy using drugs or a device. It is also known as birth control and fertility control. The devices or drugs used in contraception interfere with the normal process of sperm-ovum fertilization to prevent pregnancy.

The contraception encompasses the use of drugs (oral pills, injectable contraceptives, and topical contraceptives) and devices (condoms, intrauterine device [IUD], diaphragms, sponges, patches, implants, vaginal rings, and others). The growth in focus towards the need of family planning and preventing unintended pregnancy fuels the market growth. In addition, the increase in use of contraception in young women along with the rise in higher educational attainment propels the market growth. Moreover, health issues associated with teenage pregnancies, increase in awareness of modern contraception, and rise in use of oral pills as a key method to avoid unplanned pregnancy further drive the market growth. However, health risks associated with the use of contraceptives, availability of alternate contraceptive methods, and lack of social acceptance might adversely affect the market growth.

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Advent of advanced contraceptive methods, emergency contraceptives method especially for teenagers, and increase in awareness towards sexually transmitted infections (STIs), are the major factors responsible for the growth of contraceptives market. Growth in popularity of female condoms, custom-fit condoms, and other novel products have fueled the contraceptive demand, especially in the developed regions. Furthermore, rise in adoption for modern contraceptives in the developing economies contribute to the significant growth in the world contraceptives market. However, associated risks, sociocultural influences of contraceptives, and side effects such as infertility resulting from the use of contraception are the major impediments to the market growth.

Oral contraceptive drugs or oral contraceptive pills segment accounted for over 85% share in the overall contraceptive drugs market in 2015. Oral pills are the most common type of reversible contraception used globally. High effectiveness and convenience in comparison to contraceptive devices, particularly implants have made it a preferred mode of contraception. Also, the large consumer base and government initiatives to cater the unmet need of contraception further boosts the market growth. Injectable contraceptives is the fastest growing segment in the global market, and is estimated to register a CAGR of 7.2% during the forecast period due to rise in awareness among individuals and growth in population.

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