Selbyville, Delaware, Nov. 29, 2021 (GLOBE NEWSWIRE) —
The contraceptives market size is anticipated to record a valuation of USD 39 billion by 2027, according to the most recent study by Global Market Insights Inc. Increasing government initiatives in developing countries to promote the awareness regarding family planning and the use of contraceptives is predicted to drive the market growth in the coming years.
The surging prevalence of sexually transmitted infections (STIs) is poised to expedite the contraceptives market expansion during the forecast timeframe. As per the World Health Organization 2021 statistics, approximately 374 million new infections are reported every year associated with gonorrhea, chlamydia, syphilis, and trichomoniasis. Over 500 million individuals aged 15 to 49 years are estimated to suffer from genital infections with herpes simplex virus. Moreover, in 2016, estimates reveal that around 1 million pregnant women were affected with syphilis, causing over 350,000 adverse birth events, with 200,000 stillbirths and infant mortality. The STIs have a significant impact on sexual and reproductive health and further promotes the risk of HIV. The high prevalence of STIs globally and increasing infant mortality rates will foster the adoption and use of contraceptives, thereby impelling the industry growth.
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The contraceptive devices segment is projected to witness 9% growth rate through 2027 led by the innovative approaches that have been utilized in the development of contraceptive devices and several benefits offered in improving sexual & reproductive health, etc. As per the CDC, condoms are the most prevalent primary contraceptive method used in the U.S. The contraceptive devices comprising intra-uterine devices are also widely preferred owing to their numerous advantages. These devices protect pregnancy for 5 or 10 years, work as sterilization & birth control implants, etc. Several research studies have also reported that IUDs are more than 99% effective. Advancements in controlled release hormonal technologies for contraception including transdermal patches, intravaginal rings, implants are also contributing to the industry demand significantly.
China contraceptives market held 29% of revenue share in 2020 and is expected to reach more than USD 4 billion by 2027. The substantial market share is pertaining to the rising prevalence of sexually transmitted diseases, increasing awareness pertaining to sexual & reproductive health, etc. Increasing awareness among women related to various contraceptive devices comprising intra-uterine devices is also contributing to the industry expansion.
Some of the major players operating in the market are Pfizer, Teva Pharmaceutical Industries, Merck & Co., Mayer Laboratories, Reckitt Benckiser, Cooper Surgical, Church & Dwight Co., and Actavis. These leaders are involved in adopting several strategic initiatives such as vertical integration, market diversification, collaborations, and product launches to expand their product portfolio and market presence.
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Table of Contents (ToC) of the report:
Chapter 3 Contraceptives Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.5 COVID-19 impact analysis
3.6 Porter’s analysis
3.6.1 Competitive matrix analysis, 2020
3.7 PESTEL analysis
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