The contraceptive devices market in North America was worth US$ 3,418.8 Mn in the year 2017. The region is expected to remain in the dominant position due to the rise in demand for male contraceptives in Canada and the U.S.
Fortune Business Insights, in a published report, titled, “Contraceptive Devices Market Size, Share and Global Trend by Product Type (Male and Female Contraceptive Devices, Technology (Hormonal and Barrier Contraceptives), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channels, Public Channel and NGO and Others) and Geography Forecast till 2025,” states that the market was valued at US$ 7,013.8 Mn in 2017. It is projected to reach US$ 11,166.4 Mn by the end of 2025, exhibiting a moderate CAGR of 6.0%.
Even though there are several contraceptive drugs available in the market, the masses prefer contraceptive devices because they are safer than the drugs and are easy to use. Demands for vaginal rings, contraceptive sponges, female condoms, and non-surgical permanent contraception devices have been increasing rapidly across the globe. Advanced products that provide maximum assurance of safety and require minimally invasive surgeries to prevent unwanted pregnancies and sexually transmitted infections are being launched in the global contraceptive devices market.
Availability of a Variety of Female Contraceptives Likely to Boost Growth of the Segment
The report classifies the global contraceptive devices market on the bases of technology, product type, distribution channel, and geography. By technology, the market is divided into barrier contraceptives and hormonal contraceptives. By product type, the market is grouped into male contraceptives and female contraceptives. The female contraceptives include intrauterine devices, female condoms, vaginal rings, diaphragms, sub-dermal implants, sponges, and others. Amongst the two segments, the female contraceptive segment is projected to remain in the leading position during the forthcoming years. The global market growth is attributed to the availability of a variety of contraceptive devices and an increasing adoption of intrauterine devices across the globe. In terms of distribution channel, the market is segmented into clinics, hospital pharmacy, public channel and NGO, retail pharmacy, online channels, and others.
By Product Type
- Male Contraceptive Devices
- Female Contraceptive Devices
. Female Condoms, Diaphragms and Sponges
. Vaginal Rings
. Intrauterine Devices
. Sub-dermal Implants
- Hormonal Contraceptives
- Barrier Contraceptives
By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Channels
- Public Channel and NGO
Implementation of Population Control Policies to Propel the Market in Asia Pacific
The global contraceptive devices market is geographically divided into Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Amongst these, North America is anticipated to lead the market. It will be followed by Asia Pacific. This is mainly due to an increasing awareness regarding the reversible contraceptive measures in this region. Also, In India, and China, the governments are implementing various policies to control population which is likely to propel the contraceptives market in Asia Pacific. This in turn, is expected to rise the CAGR significantly of this region during the forecast period. Europe is anticipated to hold notable share of the contraceptive devices market by the end of 2025. This will occur because of the abundant availability of contraceptive methods at reasonable rates in the region.
Bayer AG and Other Key Players Aim to Boost Growth by Launching Innovative Products
Numerous regional and local players operate in the global contraceptive devices market. Bayer AG, a multinational pharmaceutical and life sciences company, based in Germany, announced that it has received FDA for its brand new intrauterine device called Kyleena. Kyleena is an intrauterine system that releases levonorgestrel, a hormonal medication that is used in birth control methods. It can be used for long-term prevention of pregnancy.
Some of the key market players operating in the global contraceptive devices market are Pfizer Inc., Reckitt Benckiser Group plc, Bayer AG, Veru Inc., Janssen Global Services, LLC, Medisafe Distribution Inc., Teva Pharmaceutical Industries Ltd., Allergan, Merck and Co., Inc., Church and Dwight Co., Inc., Mylan N.V., and other key market players.
Key Companies Mentioned In Report
- Bayer AG
- Pfizer Inc.
- Janssen Global Services, LLC
- Teva Pharmaceutical Industries Ltd.
- Merck and Co., Inc.
- Mylan N.V.
- Reckitt Benckiser Group plc
- Veru Inc.
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