Contraceptive Devices Market Research Report 2019: Global Industry Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast To 2025
Pune, India -- (SBWIRE) -- 06/11/2019 -- The presence of numerous companies has rendered the Global Contraceptive Devices Market highly fragmented. As per Fortune Business Insights, the market is led by companies such as Bayer AG and Merck & Co. Inc. Their strong position in the market is attributable to their presence across several countries. Besides this, FDA approvals achieved on various therapeutics and devices will enable the companies establish a stronghold in the contraceptive devices market.
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For instance, the Food and Drug Administration (FDA) recently approved the use of Kyleena, an intrauterine device, which was discovered by Bayer AG in September 2016. This device helps to prevent intentional pregnancy up to a period of five years, thus proving another birth control option for women. "Expansion strategies adopted by leading companies will boost the global contraceptive devices market," said a lead analyst at Fortune Business Insights.
As per the report published by Fortune Business Insights titled as "Contraceptive Devices Market: Global Market Analysis, Insights and Forecast, 2018-2025," is currently available for sale on the official website. The report spikes the global contraceptive devices market to exhibit a CAGR of 6.0% between 2018 and 2025. The market was valued at US$7013.8 Mn in the year 2017 and is anticipated to reach US$ 11166.4 Mn by the end of 2025.
Robust Government Initiatives Across Regions for Women and Child Health Stokes Growth
Fortune Business Insights forecasts considerable increase in the use of contraceptive devices in response to increasing government initiatives towards promoting the health and wellness of women and children. In addition to this, active participation by governments in promoting family planning and contraception, especially in emerging nations is identified as a key factor driving the global contraceptives devices market. Moreover, improving literacy rates among women has led to the rise in adoption of contraceptive devices across the world. Spurred by these factors, the contraceptive devices market is projected to expand significantly in the forecast period, 2018-2025.
Several factors are influencing growth of the market. For instance, the availability of female contraceptive devices and global acceptance of intrauterine devices are growth engines for the contraceptive devices market. These factors will propel the sales of contraceptive devices at an exponential rate in the coming years
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Bayer Pharmaceuticals
- Janssen Inc.
- Teva Pharmaceuticals
- Church & Dwight Co., Inc.
Contraceptives Devices are available for both male and female. The female contraceptive devices segment under the contraceptive devices market covered a market share of 54.8% in the year 2017 and is likely to emerge dominant till 2025. The contraceptive devices market will also gain from the introduction of technologically enabled hormonal and barrier contraceptives. The hormonal contraceptive segment in the contraceptive devices market is likely to lead owing to its rising preference among public and efficiency.
In addition to this, the rising demand for hospital pharmacy is expected to increase the use of contraceptive devices across the globe. The increased uptake of implantable contraceptive devices by healthcare professionals and active governement support for distribution of contraceptives through government aided hospitals are responsible for the growth of this segment.
Densely Populated Countries in Asia Pacific Exhibit High Demand for Contraceptive Devices
Active government participation towards implementing population control polices in counties such as China and India will drive the contraceptive devices market in Asia Pacific. In addition to this, rising awareness among public regarding the reversible contraceptive measures is likely to offer impressive growth opportunities to the market in Asia Pacific. In the year 2017, North America held dominance, accounting for a market value of US$ 3418.8 Mn and is likely to remain dominant between 2018 and 2025.
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This is ascribed to the increase in the usage of male condoms, especially in countries such as Canada and the U.S. Also, this increase provides a significant impetus to the contraceptive devices market in North America. The Europe market is also expected to grow owing to the availability of cost-effective options for contraception. Against this backdrop, experts foresee lucrative growth opportunities for contraceptive devices market in Europe.
Fortune Business Insights also offers a detailed overview on the drivers and growth opportunities prevalent for the global contraceptive devices market in detail in its report.
5.Global Contraceptive Devices Market Analysis, Insights and Forecast, 2014-2025
5.1. Key Findings/ Summary
5.2. MarketAnalysis, Insights and Forecast – By Product Type
5.2.1Male Contraceptive Devices
5.2.2Female Contraceptive Devices
126.96.36.199Female Condoms, Diaphragms & Sponges
5.3. MarketAnalysis, Insights and Forecast – By Technology
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5.4. MarketAnalysis, Insights and Forecast – By Distribution Channel
5.4.5Public Channel & NGOs