- Need of family planning and rise in cases of unwanted pregnancies globally are boosting the demand for contraceptives
- Companies in the global contraceptives market are focusing on the development of technologically advanced products to stay ahead of the competition
ALBANY, N.Y., Feb. 2, 2022 /PRNewswire/ -- According to a study by Transparency Market Research (TMR), the global contraceptives market is projected to register growth at a CAGR of 15.5% during the forecast period, between 2021 and 2028.
Increase in the number of new players in the global contraceptives market is intensifying competition in the market. Moreover, new companies are increasing efforts to expand their product portfolio. Hence, they are investing heavily in R&D projects. Besides, many enterprises in the global contraceptives market are launching innovative contraceptive devices, states a study by TMR.
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Companies operating in the global contraceptives market are focused on increasing efforts for technological advancements of their products. Moreover, several players in the market for contraceptives are engaged in regulatory approvals.
The rising number of new product launches, collaborative agreements, and acquisitions is projected to drive the contraceptives market during the forecast period. Players operating in the global contraceptives market are increasingly focusing on strengthening their distribution channels. Moreover, they are observing prominent growth opportunities from retail and online pharmacies segments. These factors are expected to help in reaching the global contraceptives market reach the valuation of US$ 2.7 Bn by 2028.
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Contraceptives Market: Key Findings
- Government authorities of many nations globally, specifically developing countries, are taking initiatives to spread awareness about the disadvantages of unwanted pregnancies and rising population. Moreover, they have initiated several programs that focus on fulfilling increasing demand for advanced contraception techniques and reproductive & sexual health services. Such efforts are estimated to create business prospects in the global contraceptives market during the forecast period.
- Several national and international organizations are taking initiatives to spread awareness about sexually transmitted diseases. Furthermore, many regulatory authorities of the U.K., such as Medicines and Healthcare Regulatory Agency (MHRA), have approved the use of injectable contraceptives. These factors are leading to sales growth in the contraceptives market. Moreover, growing awareness on the importance of family planning and rising use of advanced contraceptive technologies in many developing nations are generating expansion avenues in the global contraceptives market, according to report by TMR.
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Contraceptives Market: Growth Boosters
- Rising focus of many contraceptives producers on growing awareness about the use of their products is creating substantial sales prospects in the global market
- Due to a surge in cases of sexually transmitted diseases globally, sales of contraceptive tablets and other contraception types are anticipated to increase during the forecast period, which, in turn, is likely to fuel market growth
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Contraceptives Market: Regional Analysis
- The contraceptives market is projected to witness growth prospects in North America, owing to increase in the number of working women who are in their reproductive age, rise in understanding about available contraceptive products, and surge in abortion rates in the region
- The market in Asia Pacific is expected to experience rapid expansion avenues during the forecast period, owing to increasing government initiatives to spread awareness on family planning. Moreover, surge in the number of unplanned pregnancies is prognosticated to fuel the Asia Pacific contraceptives market in the years to come.
Contraceptives Market: Key Players
Some of the key players profiled in the report are:
- Allergan plc
- Merck & Co., Inc.
- Cipla, Inc.
- HLL Lifecare Limited
- Bayer AG
- Pfizer, Inc.
- Mankind Pharma
- Mithra Pharmaceuticals
- Teva Pharmaceutical Industries Ltd.
- Reckitt Benckiser Group plc.
- Janssen Pharmaceutical Company
Contraceptives Market Segmentation
By Product
- Contraceptive Drugs
- Oral Contraceptives
- Combined Contraceptives
- Mini-pills
- Contraceptive Injectable
- Topical Contraceptive Patch
- Contraceptive Devices
- Male Contraceptive Devices
- Female Contraceptive Devices
- Female Condoms
- Contraceptive Diaphragms
- Contraceptive Sponges
- Contraceptive Vaginal Rings
- Intrauterine Devices
- Sub-dermal Contraceptives Implants
- Non-Surgical Permanent Contraception Devices
Distribution Channel
- Hospitals Pharmacies
- Public
- Private
- Independent Pharmacies
- Online Pharmacies
- Clinics
- Others
Regions
- North America
- Latin America
- Europe
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Assisted Reproductive Technology Market: Rising incidence of infertility is likely to boost the global assisted reproductive technology market in the years to come. Assisted reproductive technology (ART) is widely utilized in the treatment of infertility. This technology comprises fertility treatments handling sperms of men and eggs of women. This method of treatment involves removal of eggs from the body of a woman and then mixing it with the sperm of a male to create an embryo.
In-Vitro Fertilization Market: The global in-vitro fertilization market is developing at a high pace with the technological advancements and the introduction of advanced treatments. The high awareness rate among people and the rising spending capacity of people, especially in emerging nations to ensure the growth of the market in the near future.
Fertility Testing Devices Market: The growing rate of infertility in countries across the globe serves as a key driving factor for the growth as per key trend in fertility testing devices market. Furthermore, delayed pregnancies because of financial instability, the high pervasiveness of PCOS, and diseases related to lifestyle are some of the key responsible factors for the growth in the fertility testing devices market.
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