The increasing number of unwanted pregnancies across the globe requires a solution in the form of contraceptive measures. The rising awareness for the adoption of birth control methods in developing countries is leading to the growth in the contraceptives market. Apart from this, the research report on contraceptives has identified the arrival of low-priced generics medicines and contraceptive devices to boost growth in the contraceptives market. The market survey on contraceptives has predicted a rise in the industry at a compound annual growth rate (CAGR) of 6.1% during the assessment period from 2017 to 2025. The market analysis of contraceptives has anticipated reaching market value around US$ 37,242.7 Mn by end of 2025.
Increased Education Level is expected to create Awareness about Contraceptive Market – Different Birth Control Measures
According to the market analysis of contraceptives, methods are the best solutions for birth control. These methods vary. One such approach is to prevent sperm from fertilizing the ovum. The preventive measures come in the mode of cervical caps, contraceptive sponges, condoms, and diaphragms. Other approach also includes holding women's ovaries from releasing eggs that might be fertilized. For this, measures such as the adoption of emergency contraceptive pills, birth control pills, and vaginal patches, shots, and rings.
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The intrauterine devices are implanted into uterus of women and it provides protection against unwanted pregnancy for a good period of time. Sterilization is also crucial as it prevents women from getting pregnant and also prevents man impregnating women who underwent sterilization process. With such impactful features, the contraceptives market is experiencing tremendous growth. The selection of appropriate birth control measures is dependent on various factors such as an individual’s wish to have children, frequency of sexual activities, individual’s health, and estimated number of sexual partners. Based on these factors, the health care professional may suggest the best option available in the contraceptives market.
As per the market survey on contraceptives, the market is considered to be fragmented with the existence of many local and international market players. Out of these, prominent market players include Janssen Pharmaceutical Company, Teva Pharmaceutical Industries Ltd., Reckitt Benckiser plc, Mithra Pharmaceuticals SA, Church & Dwight Co. Inc., and HLL Lifecare Limited.
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Contraceptive Market – The Key Factors Driving Market Growth
The growing consciousness towards individuals selecting a suitable time for family planning and preventing an accidental pregnancy will fuel the growth in the contraceptives market. The rise in educational level among young women will also increase awareness towards birth control methods, and it will add value in the contraceptives market.
In addition, increasing use of contraceptive pills and recognition of modern contraception is serving as birth control means. Contraceptives serving to health issues related to teenage pregnancies are also fueling growth in the contraceptives market. Further, some health issues related to teenage pregnancies, growing use of oral contraceptive pills, and increasing recognition of modern contraception are also serving as birth control means and drive contraceptive market growth. But the availability of other different contraceptive methods, lack of social acceptance, and associated health risks may result in adverse effects on the growth in the contraceptive market.
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The contraceptives market is estimating growth because of the increasing need to control the population and rising cases of sexually transmitted diseases. The government is taking various initiatives to reduce healthcare expenses related to unwanted pregnancy and its adverse effects. These initiatives are expected to fuel the growth in the contraceptives market. As the increasing population has always been one of the major concerns, so the solutions provided by the contraceptives market can add value to its prospect.
Apart from population control, these contraceptives also reduce the possibilities of uterine cancer and ovarian cysts. It makes the mensural cycle a little painful and maintains hormonal balance to reduce acne. The increased recommendationof contraceptives by gynecologists as a birth control measure is anticipated to propel growth in the contraceptives market.
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