Contraceptives Market Is Projected To Grow Due To Growing Need For Population Control Till 2022: Grand View Research, Inc.
Global Contraceptives Market is
expected to reach USD 30.86 million by 2022, according to a new study by Grand
View Research Inc. Growing prevalence of sexually transmitted infections
(STIs), especially HIV and the introduction of new products exhibiting improved
efficacy are expected to drive the contraceptives market over the forecast
period. The presence of high unmet contraceptive needs coupled with the
implementation of favorable government policies is expected to significantly
contribute towards the growth of the contraceptives industry.
In 2014, contraceptives device
was the largest product segment with revenue estimated at over USD 12.0
billion. Devices such as condoms and contraceptive sponges, which are
relatively inexpensive and easy to use, are expected to spearhead market growth
over the forecast period. Female condoms are also expected to gain penetration
rates over the next seven years. Growing user awareness levels and improving
product availability are two key factors expected to drive segment growth.
Global contraceptives market, by product, 2012 - 2022
(USD Billion)
Browse full research report on Contraceptives
Market
Further key findings from the report suggest:
- Condoms are
identified as the most lucrative sub segment of the contraceptive devices
market. Low prices and abundant product availability are two key factors
expected to drive the condoms market over the forecast period. The fact
that, condoms are effective in preventing sexually transmitted diseases
and unwanted pregnancies is also expected to boost usage rates.
- Intrauterine
devices, especially hormonal IUDs are expected to experience attractive
growth over the forecast period. Growing demand for Mirena, Jaydess and
Skyla and the commercialization of Liletta is expected to further drive
segment growth.
- The North
American contraceptives market accounted for the largest revenue share in
2014. Presence of sophisticated healthcare infrastructure, high user
awareness levels and abundant product availability are key factors
attributing to the region’s market position.
- Latin America
is expected to spearhead future market growth. Numerous government
programs and free distribution of samples within the region are expected
to help manufacturers capitalize on the available opportunities.
- Asia Pacific
is also expected to witness substantial growth during the forecast period
owing to, rapidly rising population levels and the consequent rise in
demand for contraception. Presence of government initiatives in countries
such as India, China, Sri Lanka, Pakistan, and Bangladesh aimed at slowing
down population growth and prevalence of STDs are expected to promote
market growth.
- Key players
of the contraceptives market include Reckitt Benckiser Plc, Mayer
Laboratories, Actavis Plc, Church & Dwight, Pfizer Inc., Merck &
Co., The Female Health Company and Teva Pharmaceuticals.
For more information: http://www.grandviewresearch.com
Comments
Post a Comment