"Contraceptives Market Accessibility: Bridging the Gap"

September 06, 2023

September 6^th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Contraceptives Market.

The Contraceptives Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The contraceptives market was estimated at US$ 27.1 billion in 2021 and is expected to grow at a CAGR of 6.18% during 2022-2028 to reach US$ 50.9 billion in 2028. The increase in market growth is explained by an increase in governmental activities, a rise in population control demands, and a decline in the prevalence of unplanned pregnancies. The Center for Reproductive Rights estimates that every year in Asia, there are about 53.8 million unwanted pregnancies, with about 65% of them ending in abortions. In Asia, about 41% of married teens use contraception regularly.

Segments Analysis

By Product Type

The market is further segmented into drugs and devices.

By Drugs Type

The market is further segmented into contraceptive pills, patches, and injectables. The devices segment is further segmented into condoms, subdermal implants, IUDs, vaginal rings, and others. The condoms segment is further bifurcated into male and female condoms. In addition to that, the IUD segment is further categorized into copper IUDs and hormonal IUDs. Due to the expanding demand in the regions of Europe and Asia Pacific, the condoms category had the biggest share in 2021. The demand from the public sector is another factor that has contributed to the growth. The Department of Health & Family Welfare in India provided about 378.1 million condom units, according to the Family Planning Report 2021 report. The market for contraceptive medications is anticipated to grow profitably throughout the forecast period.

By Distribution Channel Type

The market is segmented into hospital pharmacies, retail pharmacies, and e-commerce.

Regional Analysis 

The contraceptive market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Due to the high rate of abortion, the growing population of women between the ages of 15 and 44, and high patient awareness levels in the area, North America held the largest revenue share in 2021 and is anticipated to keep this position throughout the forecast period. Teenagers' desire for contraceptives has increased as a result of the introduction of generic and inexpensive medications and technologies. Reckitt Benckiser introduced Durex Intense, a new condom category, in April 2022. During the forecast period, Asia Pacific is expected to experience the quickest CAGR.

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Contraceptives Market analysis report discusses the following heads in great detail:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors 

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Author : Emily