Press Release
Press Release
The global market for contraceptive devices is driven by enhancing healthcare facilities, and rising awareness about preventing unexpected pregnancies. 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, 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 channels 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.
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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.
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