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.
Access Research Report of Contraceptives
Market @ http://www.grandviewresearch.com/industry-analysis/contraceptives-market
Further key findings from the study
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.
Browse more reports of this category by Grand View Research @
https://www.grandviewresearch.com/industry/pharmaceuticals
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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Information: www.grandviewresearch.com
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