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...