Contraceptive Devices Market to Rise at 6% CAGR by 2025, Market to Rise Steeply with the Rising Awareness About Population Control Measures

The global contraceptive devices market size is expected to reach at USD 11166.4 million by 2025. The presence of numerous companies has rendered the market highly fragmented. As per the report published by Fortune Business Insights titled as “Contraceptive Devices Market Size, Share and Industry Analysis By Product Type (Male & Female Contraceptive Devices, Technology (Hormonal & Barrier Contraceptives), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channels, Public Channel & NGO & Others) and Regional Forecast, 2018 – 2025,” the market value stood at USD 7013.8 million in 2017. The report further spikes the market to rise at a CAGR of 6% during the forecast period, 2018-2025.

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. 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 market.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/contraceptive-devices-market-100062

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 market. These factors will propel the sales of contraceptive devices at an exponential rate in the coming years

Contraceptives devices are available for both male and female. The female contraceptive devices segment cover 54.8% contraceptive devices market share in the year 2017 and is likely to emerge dominant till 2025. This market will also gain from the introduction of technologically enabled hormonal and barrier contraceptives. The hormonal contraceptive segment in the 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 government 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 global 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 USD 3418.8 Millions and is likely to remain dominant between 2018 and 2025. 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 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 the market in Europe.

Some of the other key players operating in the contraceptive devices market are:

• Pfizer Inc.
• Janssen Pharmaceutical Company
• Mylan
• Allergan plc
• Teva Pharmaceuticals Industry
• Medisafe Distribution Inc.
• Veru Inc.
• Reckitt Benckiser plc
• Church & Dwight, Co., Inc.

The global contraceptive devices market can be segmented into the following categories: