As stated in a recently published information by Credence Research, Inc. “Contraceptives Industry Growth, Future Prospects and Competitive Analysis, 2016-2022,” the global contraceptives industry was valued at USD 19.7 Bn in 2015, and is expected to reach USD 25.5 Bn by 2022, expanding at a CAGR of 3.6% from 2016 to 2022.
Contraception is defined as voluntary method of preventing pregnancy by altering fertilization, ovulation and intervention through drugs and devices. This information studies the current status and future prospects of the drugs and devices commercially available in the global contraceptives industry. Temporary contraceptives are the most preferred contraception mode across the world. Some of the prime factors that drive the global contraceptives industry are drive to avoid unintentional pregnancies and overcoming the risk of sexually transmitted infections. Growing awareness about productive health, and increased approvals for novel and highly effective female contraceptive solutions also drive the contraceptives industry. Initiatives by governments and NGOs to promote the use of contraceptives and public concessions for the same are facilitating to growing demand for contraceptives.
Browse the full report Contraceptives: Market Growth, Future Prospects and Competitive Analysis, 2016-2022 report at http://www.credenceresearch.com/report/contraceptives-market
Oral contraceptive pills is the largest product segment in the contraceptives industry. Combined hormonal contraceptives are in high demand in the present industry scenario, due to their high effectiveness and ease of use. Among the device types, intrauterine devices hold the largest industry share demonstrating significant usage in developed industrys and growing adoption in emerging industrys of Asia-Pacific. Subdermal implants and female condoms have developed their niche in the developed regions of North America and Europe and their awareness is steadily increasing in Latin America and Asian industrys.
North America is the largest industry for contraceptives followed by Europe. High incidence of teenage and unintentional pregnancy and wide prevalence of sexually transmitted diseases are the major contributors to the dominance of these regions. On the other hand, novel contraceptive solutions such as implants, vaginal rings and others are in high demand in developed countries due to high disposable incomes and high awareness. Asia-Pacific is the most promising regional industry for contraceptive drugs and devices. Government and NGO initiatives focusing on population control, prevention of unintentional pregnancies and sexually transmitted diseases in low income groups are responsible for the surge in demand for contraceptives in Asia-Pacific.
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