Condom Market Business Status by Top Key Companies, Industry Key Challenges Due to Coronavirus Outbreak | Fortune Business Insights™
The global ''condom market size''is expected to reach USD 9.90 billion by 2027, exhibiting a CAGR of 9.3% duringthe forecast period. The growing awareness regarding STDs such as, hepatitis B,Syphilis, trichomoniasis, and chlamydia can fuel demand for condoms, which, inturn, will aid the expansion of the market, states Fortune Business Insights,in a report, titled “Condom Market Size, Share &COVID-19 Impact Analysis, By Type (Male and Female), Material (Latex andNon-latex), Distribution Channel (Mass Merchandisers, Drug Stores, Online, andOthers), and Regional Forecast, 2020-2027.” The marketsize stood at USD 4.48 billion in 2019.
COVID-19 Impact Analysis:
The coronavirus incident has caused colossal loss to severalindustries across the globe. The governments of several countries haveinstigated lockdown to thwart the spread of this deadly virus. Such plans havecaused disturbances in the production and supply chain. But, with time andresolution, we will be able to combat this stern time and get back tonormality. Our well-revised reports will help companies to receive in-depthinformation about the present scenario of every market so that you can adoptthe necessary strategies accordingly.
List of the Leading Companies Profiled in the Global Condom Marketare:
- Reckitt Benckiser Group (Slough, U.K.)
- LifeStyles Healthcare Pte Ltd (Melbourne, Australia)
- Mankind Pharma (New Delhi, India)
- Church & Dwight Co., Inc. (Ewing, U.S.)
- Cupid Limited (Nashik, India)
- Karex Berhad (Selangor, Malaysia)
- Veru Inc. (Miami, U.S.)
- HLL Lifecare Limited (Thiruvananthapuram, India)
- Mayer Laboratories, Inc. (Sonoma, U.S.)
- Okamoto Industries, Inc. (Tokyo, Japan)
The report on the condom market features:
- Far-reaching analysis of the market
- Essential facts about prominent players
- Dominant regions in the market
- Key drivers and trends
- Significant development
- Market challenges and restraints
- Coronavirus effect
Key Market Driver:
Increasing Consciousness about Birth Control to EffectivelyUplift Market
The growing knowledge about the use of condoms as a contraceptivecan have an excellent impact on the market growth during the forecast period. As per the report, Contraceptive Use by Method 2019 of the UnitedNations, the prevalence of male contraceptive product has escalated from 4.5%in 1994 to 10.0% in 2019 globally. As per the same report, the number of women(those with reproductive age of 15 to 49 years) relying on male condoms as ameans of contraception has substantially increased from 64 million in 1994 to189 million in 2019. Furthermore, the increasing utilization of other controlmethods such as oral pills can simultaneously improve the prospects of themarket. However, oral pills have adverse effects and cause hormonal imbalancein women, resulting in serious health problems. Therefore, the weakenedinclination towards contraceptive pills among women can subsequently fueldemand for these products. Besides, the rising sex education in developing nationscan have a positive impact on the market in the forthcoming years.
Increased Supply of Essential Health Products to Elevate Marketamid COVID-19
The lockdown imposed by governments restricted the supply ofvarious products. However, the accessibility and supply of essential wellnessproducts have improved the scope of the market during the pandemic. The UnitedNations Population Fund (UNFPA) provided a summary in their brief published inApril 2020 ‘Condoms and lubricants in the time of COVID-19’. It has providednecessary actions that needed to be taken to sustain supplies of this duringthe time of COVID-19 to ensure unintended pregnancies, as well as otherconcerns of unprotected sex, do not surface during the lockdown. Moreover, theincreasing product availability and enhanced supply chain with no lockdown willconsequently boost the growth of the market in the time of the pandemic.
Regional Analysis:
Ever-increasing Population to Spur Demand in Asia Pacific
The market in Asia Pacific is lucrative and is expected toexperience a rapid growth rate during the forecast period owing to theever-increasing population and increasing education level in the developingnations. The growing awareness regarding birth control methods can have anexcellent impact on the market in Asia Pacific. The implementation ofchildbearing policies to control the population will effectually aid the growthof the market in the region. The increasing number of unwanted pregnancies willfurther spur demand for condoms, thus promoting the growth of the market. Asper the report, Contraceptive Use by Method 2019 of the United Nations, inEastern and South-Eastern Asia, it is one of the most prevalent contraceptivemethods accounting for 17% share in 2019. Europe and North America are expectedto experience a steady growth rate owing to the higher usage rate ofcontraceptive products. As per the report, Contraceptive Use by Method 2019 ofthe United Nations, condoms in Europe and Northern America account for 14.6%share among all contraceptive methods in 2019.
Condom Market Report Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Key Questions Answered:
Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market byvarious segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecastperiod?
What Factors are estimated to drive and restrain the market growth?
Key Development:
October 2020: Durex, abrand based in Britain introduced a new product range, ‘‘Durex invisiblecondoms’’. This was launched in India as India’s thinnest product.
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/condom-market-104519
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