The new report by Expert Market Research titled, ‘Global Contraceptive Devices Market Analysis, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global contraceptive devices market. It assesses the market based on its segments like device types, end users, distribution channels, and major regions.
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The key highlights of the report include:
Market Overview 2018-2028
• Forecast CAGR (2022-2027): 6.10%
The increasing awareness regarding the existing alternatives for unexpected pregnancy prevention is boosting the market growth of contraceptive devices. The market for contraceptive devices is also being driven by changing lifestyles, coupled with increasing healthcare expenditure, and rapid urbanisation.
Moreover, governments from various evolving and evolved countries are implementing plans/campaigns/policies to encourage people to use contraceptive devices in both rural and urban areas for population control. These initiatives are further supporting the contraceptive devices market growth.
Contraceptive Devices Market Segmentation
Contraceptive devices refer to devices that prevent insemination by acting as physical walls to obstruct the encounter between sperm and ova, thereby helping prevent unplanned pregnancies. They are available for one-time use only, reusable, or long-term use. Although not all types of contraceptive devices are effective against sexually transmitted diseases, some may offer protection.
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The major device types in the market are:
• Vaginal Rings
• Cervical Caps
• Intra Uterine Device (IUDs)
The market can be broadly categorised, on the basis of end users, into:
Based on distribution channel, the contraceptive devices market is categorised into:
• Retail Pharmacy
• Hospital Pharmacy
• Online Pharmacy
• Public Channel and NGO
Based on region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Contraceptive Devices Market Trends
The global contraceptive devices market is expected to be propelled on account of the increasing adoption of contraceptive devices as they are easy-to-use, cost-effective, and removable. The growing technological advancements and various product innovations like vaginal rings and non-hormonal diaphragms are anticipated to propel the market growth of contraceptive devices in upcoming years.
The increasing literacy rates among women, along with growing research and development activities by the government and various companies, are likely to boost the market growth of contraceptive devices. Geographically, North America is projected to register growth in the span of the forecast period on account of the rising adoption of contraceptive devices in the region.
Key Market Players
The major players in the contraceptive devices market
• Janssen Pharmaceutical Company
• Pfizer Inc.
• Teva Pharmaceutical Industries Ltd.
• Merck & Co. Inc.
• Reckitt Benckiser Group PLC
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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