DUBLIN, Dec. 22, 2017 /PRNewswire/ --
The "Global Contraceptives Market - Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017-2023" report has been added to Research and Markets' offering.
The Global Contraceptives Market is estimated to witness a CAGR of 4.3% during the forecast period 2017-2023. The market is analyzed based on three segments, namely product type, end-users, and regions.
The market is dominated by Allergan Plc, Bayer AG, Merck & Co., Teva Pharmaceutical, and Church & Dwight, which has more than 65% to 75% market share in the Global Contraceptives Market. Factors, such as an increase in the incidence of unwanted pregnancies, rise in the adoption of oral pills and its advantages over other contraceptives, the unmet need for contraception in developing countries, growing awareness and initiatives taken by governments to prevent unwanted pregnancies, are expected to boost the market growth.
The emerging markets have a high potential to grow owing to the highest proportion of young women who need to use modern contraceptives methods. Further, the government is focusing toward improvising healthcare infrastructure and creating awareness among people for early prevention of unintended pregnancies. However, the healthcare expenditure in most of the developing countries have saved millions of dollars by adopting contraceptives, especially oral pills.
The government in most of the developing countries are taking initiatives for creating awareness about contraceptives by conducting programs and collaborating with NGOs to have an effective spread of contraceptives in order to reduce poverty and illiteracy caused due to unplanned births. It is encouraging the use of condoms by supplying them door to door and imparting knowledge to prevent the spread of STDs and restrict population growth. However, few rural areas, and cultural and religious opposition in certain emerging countries, such as China, India, Thailand, Vietnam, Malaysia, and Philippines, hinder the market growth.
Contraceptive drugs are growing at a moderate rate and dominates the global contraceptives market with 62% of the total market share. Factors, such as rise in prevalence of unwanted pregnancies, rise in adoption of oral pills and its advantages over other contraceptives, and government initiatives, are driving the market growth. Contraceptive drugs are most frequently used for birth control and is widely adopted among young couples and career-oriented professional women. Contraceptive devices play an important role in saving individuals from getting STDs, preventing unwanted pregnancies, and help in family planning.
The contraceptive devices market is estimated to be $10.5 billion in 2016 and is expected to reach $15.6 billion by 2023, growing at a CAGR of 5.7% during the forecast period, 2016-2023.
The global contraceptives market has immense growth opportunities for vendors in both developed and developing regions. The market in the developed countries is seeing an increase in the adoption of modern contraceptives, especially in the US, Canada, France, Germany, the UK, and few of the Middle East countries. These countries have the highest number of frequent user population accounting to 70% to 75% of the total contraceptive population worldwide.
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Segmentation by Product Types: Market Size & Analysis
6 Regions: Market Size & Analysis
7 Competitive Landscape
8 Vendor Profiles
- Allergan plc
- Bayer AG
- Church & Dwight
- Merck & Co., Inc.
- Teva Pharmaceutical Industries Ltd
For more information about this report visit https://www.researchandmarkets.com/research/hn8f8v/global?w=5
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SOURCE Research and Markets