Initiatives taken by regulatory bodies and government organizations to mandate the use of barrier contraceptives such as condoms have significant impact on the growth of contraceptive market. Contraceptive methods for home use are effective and convenient, owing to the cost-effectiveness of these products. Advancements in the contraceptive techniques and launch of awareness programs by government agencies and other regulatory bodies to increase household usage of contraceptives drive the markets in the Asia-Pacific and LAMEA regions.
Contraceptives Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $43,812 million by 2022, registering a CAGR of 6.4% during the period 2016-2022. Contraceptive drugs are expected to dominate the market throughout the study period. North America would continue its lead, accounting for more than one-third share of the world contraceptive market in 2015.
The contraceptives industry is segmented on the basis of product, age group, education, end-user, and geography. Contraceptive drugs and devices are two major product categories of the contraceptives market. Contraceptive drugs are further categorized into oral (pills), injectable, and topical contraceptives. The oral contraceptives industry is the largest within the contraceptive drug market owing to the widespread use of oral pills by women. This is mainly because they are proven to be highly effective up to 99% in preventing pregnancy. In addition, contraceptive devices are further categorized into condoms, IUDs, diaphragms, sponges, patches, implants, and vaginal rings. In terms of revenue, the condoms are the most commonly used contraceptive devices accounting for around two-thirds of the contraceptives market share in 2015. However, IUDs gain momentum and are expected to grow at a faster pace during the analysis period.
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Contraceptive drugs and devices are employed by a set of end users for pregnancy control, of sexually transmitted infections (STIs), and for birth control & family planning. In this report, the end user comprises of household, clinics, and hospitals.
The North American region comprises three countries in the reportU.S., Canada, and Mexico. North America has experienced a minimal change in the contraceptive methods usage rates and the usage has been decreased by 0.3%; however, the region has the highest contraceptive prevalence74.8%. Effective contraceptive methods such as pills, male condom, IUD, injectable, implant, and other modern barrier methods dominate the North American region. According to Guttmacher Institute, the percentage of women in the country using long-acting reversible contraceptives (for instance, IUDs and hormonal implants) has increased from 9% in 2009 to about 12% in 2012.
The combined hormonal contraceptives segment dominates the overall drugs segment in North America, which lead to their high usage in the prevention of pregnancy or birth control. According to the Affordable Care Act, the health insurance companies provide 100% insurance to the users of the contraceptive methods.
The report provides a comprehensive analysis of the key players that operate in the contraceptives market, namely, The Female Health Company, Teva Pharmaceutical Industries Limited, Allergan plc, Bayer AG, Pfizer, Inc., Cooper Companies, Inc., Ansell LTD., Mayer Laboratories, Merck & Co., Inc., and Church & Dwight, Co., Inc. Other players in the value chain include Reckitt Benckiser Plc, Warner Chilcott Company, BioSante Pharmaceuticals Inc., Agile Therapeutics Inc., HLL Lifecare Limited, MANKIND Pharmaceuticals, TTK HealthCare, Boehringer Ingelheim GmbH, Watson Pharmaceuticals, Inc., V-Care Pharma Pvt. Ltd., Vardhman Life care pvt. Ltd., and Cipla Limited.