At 6.8% CAGR Contraceptives Market to cross $35 bn by 2024
Sellbyville, DE -- (SBWIRE) -- 01/14/2019 -- Global Contraceptives Market is set to exceed USD 35 billion by 2024; according to a new research report by Global Market Insights, Inc.
Rising prevalence of sexually transmitted diseases, favorable regulatory scenario in developed nations, increasing delayed pregnancy trend and high unmet contraceptive needs in developing economies will serve as high impact rendering factors for the contraceptives market growth.
Increasing government initiatives to raise awareness to prevent unintended pregnancies and growing population base creating massive demand for contraceptives will stimulate business growth over the coming years. Growing late pregnancy choice, rising burden of HIV epidemic coupled with demand for reproductive health and modern contraception will propel the industry growth.
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Moreover, increasing use of contraceptive in under developed countries and rising awareness towards disease prevention will further boost the business size. However, growing elderly population pool, increasing infertility prevalence and several concerns pertaining to side effects may restrain adoption in emerging economies.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Actavis plc
- Church & Dwight Co., Inc.
- RECKITT BENCKISER GROUP PLC
- Teva Pharmaceuticals
- Veru Inc.
Oral contraceptive pills market should witness significant growth over the forecast period owing to factors such as most effective method of birth control, daily consumption resulting in reduced cramping during periods, enabling acne reduction and minimized risk of developing cervical & endometrial cancers. Growing use of injectable drugs that are injected under the skin and released in the bloodstream to prevent unwanted pregnancy and effective in preventing unwanted birth will drive the augmented demand for the drug.
Condoms segment accounted for the largest share in 2016 and will grow significantly over the forecast period. Male condoms are widely used and are considered as first line of protection worldwide. Associated advantages like ease to use, affordable cost, elevated level of protection and least side effects amongst all the other devices will drive the segment growth. Furthermore, increasing demand of IUD's owing to high degree of effectiveness and most efficacious alternatives available in female contraceptives market will offer considerable segment growth.
U.S. contraceptives market will grow at a substantial rate over the forecast period. Increasing awareness towards contraceptives and number of advantages associated with the contraceptive methods resulting in increased usage will fuel the business growth. Availability of the national health insurance scheme for women under the age of 18 covering UTI and emergency contraception completely, increasing use of contraceptive methods as well as advent of better methods with low side effects will propel the industry growth in Germany.
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Increasing occurrences of STDs, rising awareness about disease and birth control methods, improving healthcare infrastructure coupled with favorable reimbursement policies will drive the Chinese contraceptives market over the forecast period. Rising awareness about sexually transmitted diseases and benefits delivered by contraceptive methods will boost Brazil contraceptive market over the coming years. Availability of pills and condoms in primary healthcare facilities for free in the country will fuel the industry growth in the country.
Some of the companies functioning in the contraceptives market are Actavis, Cooper Surgical, Reckitt Benckiser, Merck, Pfizer, Church & Dwight, Teva Pharmaceutical Industries, Mayer Laboratories and The Female Health Company. New product launches, increasing R&D investments, mergers and acquisition, geographical expansion will fuel the business growth. Leading business players will endeavor to reinforce their position in this competitive market by implementation of these strategies.