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Global Contraceptive Devices Market to Grow at a CAGR of 6.10% During 2022-2027, Driven by the Increasing Awareness Regarding the Usage of Contraceptive Devices

According to a new report by EMR titled, ‘Global Contraceptive Devices Market Report and Forecast 2022-2027’, the market for contraceptive devices is estimated to grow at a CAGR of 6.10% in the forecast period of 2022-2027.

The global market for contraceptive devices is driven by enhancing healthcare facilities and the rising prevalence of STIs and STDs. Moreover, the surging awareness among consumers about the alternatives available for preventing unexpected pregnancies, is expected to fuel the demand for contraceptive devices over the forecast period. Going further, government initiatives to spread awareness regarding the usage of effective contraceptive devices for population management and to restrict the spread of STDs, are likely to bolster the market growth of contraceptive devices. The rising R&D activities to reduce the risk associated with the usage of contraceptive devices is also expected to increase the demand for the product. Additionally, the wide distribution channel to facilitate the accessibility of the product is also predicted to bolster the market development in the coming years.

The emerging focus of the leading market players on technological advancements and the growing awareness about the use of contraceptive devices are propelling the market growth of contraceptive devices. For instance, in January 2021, Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) announced the launch of the generic version of “NuvaRing” in the United States. NuvaRing is an effective, safe, and easy-to-use birth control method and its launch in the United States is a significant addition to the company’s generic portfolio. With this addition to its more than 40 generic products in the existing women’s health portfolio, the company is likely to increase the availability of innovative contraceptive devices while enhancing its presence in the United States. Such launches are bolstering the market growth of contraceptive devices.

Market Analysis by Device Type, End User, Distribution Channel, and Region:

  • The market, on the basis of device type, can be divided into vaginal rings, diaphragms, condoms, cervical caps, sponges, and intra uterine devices (IUDs), among others.
  • By end users, the market is segregated into male and female.
  • On the basis of distribution channel, the market is segmented into retail pharmacy, hospital pharmacy, online pharmacy, public channel and NGO, and clinics, among others.
  • The regional markets for contraceptive devices include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing adoption of contraceptive devices owing to the rising prevalence of sexually-transmitted diseases is boosting the market growth.
  • The surging awareness regarding the use of contraceptive devices to prevent unintended pregnancies is fuelling the market’s expansion.
  • The market for contraceptive devices is being bolstered by the introduction of various favourable government initiatives for population management.
  • The changing lifestyles and increasing disposable income are increasing the adoption of contraceptive devices, hence augmenting the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global contraceptive devices market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the device types, end users, distribution channels, and major regions of contraceptive devices.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for contraceptive devices include Janssen Pharmaceutical Company, Pfizer Inc., Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., and Reckitt Benckiser Group PLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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