The major driving trend for the Contraceptive devices market is the need to stop unwanted pregnancies and the major complications involved with it.
The global market for contraceptive devices is estimated to be valued as $0.161 billion in the year 2014 and is expected to reach $0.233 billion by the end of 2019. The CAGR during this period of forecast is estimated to be 7.71%. Geographically, North America is the largest market in terms of contraceptive usage followed by Europe.
Emerging nations lack the proper awareness about the potential benefits of contraceptive usage. However this trend is changing in regions like Africa, Asia Pacific and Latin America. The market is set to boom in these regions over the next few years.
This escalation is developing the need to analyze, review and to forecast the growth of the contraceptive device market. Owing to the rapid evolution of market in the use of intrauterine devices, medical device companies which are able to launch new innovative equipment will be awarded with huge benefits.
The necessity to avoid unwanted pregnancies has been the most important driving factor for the growth of the contraceptives device market. Increasing incidences of STD’s, rapid population rise globally and the potential non-contraception health benefits it offers are the driving factors for the growth of the contraceptive device market. Government initiatives have also been beneficial in the growth of the market.
Religious and cultural oppositions in certain sectors of the society, fear of side effects and infertility, lack of awareness and limited access in developing economies have all been major challenges faced by the contraceptive devices market.
What the report contains
The report elucidates the situation of contraceptive devices market in the world and studies the markets in detail of different contraceptive devices which include condoms, diaphragms, cervical caps, sponges, vaginal rings, intrauterine devices and implants. Contraceptive methods are also studied in detail which include sterilization, pills, implants, injectable, intrauterine devices, male condoms and vaginal barrier methods.
Lastly, the report is divided by geography – North Americas, Europe, the Asia-Pacific (APAC), and Rest of the World (ROW); where-in the market share of each region is analyzed and estimates are provided for the next 5 years. The various applications of contraceptive devices have been discussed in detail in addition to a comprehensive overview of the market.
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