Market Overview:
Furthermore, it is projected that rising acceptability of ideas like the nuclear family and family planning will accelerate market expansion. Along with this, a number of government efforts, including one-child and two-child policies in a number of overpopulated nations, are anticipated to promote market expansion. In addition, as people become more aware of sexually transmitted diseases (STDs) and unexpected pregnancies, it is expected that more people will use contraceptive techniques. The expansion of the worldwide contraceptive market is fueled by a high absorption rate, an increase in reproductive women's labor force participation, and high population awareness of contraceptive products.
The global contraceptive devices market was pegged at US$ 12.9 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030.
Despite the market having a variety of contraceptive medications, contraceptive devices are more popular due to their safer mode of operation. Condoms for both sexes, contraceptive vaginal rings, intrauterine devices, sub-dermal contraceptive implants, contraceptive sponges, and contraceptive diaphragms are examples of contraceptive devices. The global market is also seeing the introduction of new product variations at a promising rate that require less invasive surgeries for implantation and offer the highest level of assurance of safety against infections and unplanned pregnancies. Contraceptive products like condoms help stop the spread of sexually transmitted diseases like HIV, in addition to birth control. For instance, 37.7 million persons worldwide were estimated to be HIV/AIDS positive in 2020 based on information published by the WHO. By utilizing contraceptive items like condoms, this can be minimized.
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Key players:
Pfizer, Inc., Merck & Co Inc, AbbVie, Inc., Teva Pharmaceutical Industries Limited, Ansell Ltd, Bayer AG,The Cooper Companies Inc., Veru Inc., Mayer Laboratories Inc., Church & Dwight Co Inc. among others.
Segmentation By Product Type:
• Female
• Male Contraceptive Devices
By Technology:
• Hormonal
• Barrier Contraceptive
Regional Analysis-
• The Asia-Pacific market is anticipated to grow at a higher CAGR during the forecast period.
• Major factors contributing to the growth of Contraceptive Devices market in this region include the rising incidence of chronic infectious diseases, rising awareness regarding growing applications of Contraceptive Devices, and increasing research activities in the field of Contraceptive Devices.
• The emergence of local players and new product launches has also played a critical role in boosting the Contraceptive Devices market in this region.
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Key Questions Answered in the Report Include:
(1) This report gives all the information about the industry analysis, revenue, and overview, of this market.
(2) What will be the rate of increase in market size and growth rate by the end of the forecast period?
(3) What are the major global Contraceptive Devices Market trends influencing the development of the market?
(4) What are the vital results of SWOT analysis of the major players operating in the Contraceptive Devices Market?
(5) What are the potential growth opportunities and threats faced by Major competitors in the market?
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