Global Contraceptives Market Drivers Market Share and Forecast 2023| Bayer AG, Allergan Plc , Pfizer, Inc, Teva Pharmaceutical Industries Ltd, Merck & Co., Inc, Church & Dwight , Actavis, Inc., Johnson & Johnson, Gedeon Richter, Novo Nordisk A/S.
Birth control has a broad positive impact and has expanded opportunities for women in terms of economic advancements, educational attainment, and improved health outcomes. A contraceptive helps individuals and couples to gain basic right and is a right to decide when and how many children to have. The rising adoption of traditional and modern methods of contraception has resulted in the improvement not only in health-related outcomes but in several economic and social issues. For instance, it has reduced infant mortality and maternal mortality rates. According to the Centers for Disease Control and Prevention (CDC), the introduction toward access to modern contraceptives is among one of the 10 great public health achievements of the 20th century.
Key Strategies of leading players
- Enhance productivity and optimizing back end manufacturing processes
- Product enhancement through integrating new strategies involving big data, advanced analytics into traditional manufacturing processes
- Growing businesses through serving into new application areas and identifying pockets of growth in emerging markets
- Focusing on cost-effective production of devices with stability and robustness
- Strategies for Product differentiation and adjusting to the life cycle changes
- Strengthening collaboration with suppliers and distributors
- More focused strategies are found in the report
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The implementation of modern contraceptive methods offers safe provision by eliminating unwanted restrictive practices and medical barriers. The WHO has developed a set of medical eligibility criteria that is based on a collaborative review of all clinical, research, epidemiological, and modern contraceptive methods.
The market is dominated by Allergan Plc, Bayer AG, Merck & Co., Teva Pharmaceutical, and Church & Dwight, which has more than 65% to 75% market share in the Global Contraceptives Market. Factors, such as an increase in the incidence of unwanted pregnancies, rise in the adoption of oral pills and its advantages over other contraceptives, the unmet need for contraception in developing countries, growing awareness and initiatives taken by governments to prevent unwanted pregnancies, are expected to boost the market growth.
Bayer AG, Allergan Plc , Pfizer, Inc, Teva Pharmaceutical Industries Ltd, Merck & Co., Inc, Church & Dwight , Actavis, Inc., Johnson & Johnson, Gedeon Richter, Novo Nordisk A/S.
The major products in the market include:
- Yasmin and Yaz (oral pills)
- NuvaRing (Vaginal Ring)
- Milex Wide Seal (Diaphragm)
- Mirena and ParaGard (IUDs)
- Ortho Evra (or Evra patch)
- Implanon (implant)
The study presents reliable qualitative and quantitative insights into:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand chain of the market
- Market valuation (revenue and/or volume)
- Key trends/opportunities/challenges
- Forces defining the present and estimated future state of the competitive landscape
- Technological developments
- Value chain and stakeholder analysis
The Global Contraceptives Market is estimated to witness a CAGR of 4.3% during the forecast period 2017–2023. The market is analyzed based on three segments, namely product type, end-users, and regions.
The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). The Americas is set to be the leading region for the contraceptives market growth followed by Europe. Asia Pacific and RoW are set to be the emerging regions. The emerging markets have a high potential to grow owing to the highest proportion of young women who need to use modern contraceptives methods. Further, the government is focusing toward improvising healthcare infrastructure and creating awareness among people for early prevention of unintended pregnancies. However, the healthcare expenditure in most of the developing countries have saved millions of dollars by adopting contraceptives, especially oral pills.
The government in most of the developing countries are taking initiatives for creating awareness about contraceptives by conducting programs and collaborating with NGOs to have an effective spread of contraceptives in order to reduce poverty and illiteracy caused due to unplanned births. It is encouraging the use of condoms by supplying them door to door and imparting knowledge to prevent the spread of STDs and restrict population growth. However, few rural areas, and cultural and religious opposition in certain emerging countries, such as China, India, Thailand, Vietnam, Malaysia, and the Philippines, hinder the market growth.
Contraceptive drugs are growing at a moderate rate and dominate the global contraceptives market with 62% of the total market share. Factors, such as rise in prevalence of unwanted pregnancies, rise in adoption of oral pills and its advantages over other contraceptives, and government initiatives, are driving the market growth. Contraceptive drugs are most frequently used for birth control and is widely adopted among young couples and career-oriented professional women. Contraceptive devices play an important role in saving individuals from getting STDs, preventing unwanted pregnancies, and help in family planning. The contraceptive devices market is estimated to be $10.5 billion in 2016 and is expected to reach $15.6 billion by 2023, growing at a CAGR of 5.7% during the forecast period, 2016-2023.
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