Contraceptive Devices - Market Insights, Competitive Landscape and Market Forecast–2026

Contraceptive Devices - Market Insights, Competitive Landscape and Market Forecast–2026

CONTRACEPTIVE DEVICES MARKET BY TYPE OF DEVICES (MALE CONTRACEPTIVE DEVICES AND FEMALE CONTRACEPTIVE DEVICES), BY PRODUCT TYPE (CONDOMS, DIAPHRAGMS, CERVICAL CAPS, VAGINAL RINGS, INTRA UTERINE DEVICES (IUD), AND OTHERS), AND BY GEOGRAPHY IS ANTICIPATED TO GROW AT A STEADY CAGR FORECAST TILL 2026 OWING TO RISING UNWANTED PREGNANCIES & SEXUALLY TRANSMITTED DISEASES AND RISING OVERPOPULATION

Global Contraceptive Devices Market was valued at USD 31.32 billion in 2020, growing at a CAGR of 6.71% during the forecast period from 2021 to 2026, to reach USD 41.84 billion by 2026. The demand for Contraceptive Devices is primarily attributed to the increasing number of unwanted pregnancies and the rising awareness regarding the complications associated with sexually transmitted diseases (STDs). In addition, rising education regarding female health and government policies to curb the burgeoning population growth are also the driving factors for contraceptive device market growth.

CONTRACEPTIVE DEVICES MARKET DYNAMICS:

The contraceptive Devices Market has notably increased due to the rise in the adoption of contraception to prevent unintended pregnancy. According to a study published by WHO 2019, globally, 74 million women living in low and middle-income countries have unintended pregnancies annually. Further, as per the study published in LANCET 2020, in 2015–19, there were 121.0 million unintended pregnancies annually with an 80% uncertainty interval, corresponding to a global rate of 64 unintended pregnancies per 1000 women aged 15–49 years. However, according to the National Survey of Family Growth, 2017–2019, 65.3% of women aged 15–49 in the United States were using contraception and the most common contraceptive methods used at present scenario were female sterilization (18.1%), oral contraceptive pills (14.0%), long-acting reversible contraceptives (LARCs) (10.4%), and the male condom (8.4%). Thus, the significant usage of contraception such as pills, LARC, and condoms among the population to prevent unintended pregnancies is likely to grow the Global Contraceptive Devices market.

Moreover, the surge in the usage of contraceptive devices is also associated with the robust government promotions and schemes for women and child health welfare. The ability to control fertility through the use of effective contraception is an essential component of preventive medicine, ideally resulting in planned pregnancies and optimal health. Contraceptive methods, based on a fundamental understanding of the processes of successful reproduction, are not only important for individuals and families but play an essential part in population regulation, this led to the promotion of family planning initiatives in developing and emerging nations by various governments. This is also a key factor contributing to the growth of the Global Contraceptive Devices market.

Additionally, the companies are also increasing their manufacturing of essential contraceptive devices products. For instance, In January 2021, Teva Pharmaceuticals API announced the availability of a generic version of NuvaRing ( an estrogen/progestin combination hormonal contraceptive) directed to be used by women to prevent pregnancy. These are the driving factors for the Global Contraceptive Devices market.

Certain factors such as side effects associated with the contraceptive devices, and stringent regulations for some of the contraceptive devices are likely to slow down the Contraceptive Devices market growth.

CONTRACEPTIVE DEVICES MARKET SEGMENT ANALYSIS:

Contraceptive Devices by Type of Devices (Male Contraceptive Devices and Female Contraceptive Devices), by Product Type (Condoms, Diaphragms, Cervical Caps, Vaginal Rings, Intrauterine Devices (IUD), and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the Contraceptive Devices type of devices segment, female contraceptive devices are expected to hold the largest share in the market during the forecasted period. This is owing to the availability of a wide variety of female contraceptive devices such as intra uterine devices, vaginal rings, diaphragms, sub-dermal implants, and others. Furthermore, significant uptake of contraceptive devices such as IUDs, sterilization methods, female condoms among women all over the globe is also expected to propel the market for contraceptive devices. For instance, according to the United Nation’s Department of Economics and Social Affairs, in 2019, 922 million women of reproductive age were contraceptive users, worldwide.

In addition, new product approvals are also likely to upsurge the contraceptive devices market during the forecasted period. For instance, in 2018, the FDA approved Annovera (segesterone acetate and ethinyl estradiol vaginal system), which is a combined hormonal contraceptive for women of reproductive age used to prevent pregnancy and is the first vaginal ring contraceptive that can be used for an entire year. Annovera is a reusable donut-shaped (ring), non-biodegradable, flexible vaginal system that is placed in the vagina for three weeks followed by one week out of the vagina.

Additionally, assistance from government bodies, such as NGOs, healthcare centers to educate women in rural regions of emerging economies such as India, China, and Brazil, among other developing nations regarding contraceptives, STDs, and unwanted pregnancy is expected to enhance the market potential in these countries. For instance, India’s National Programme for Family Planning established in 1952, raises awareness among the population regarding policies to achieve population stabilization. Also, it promotes knowledge regarding reproductive health and reduces maternal, infant & child mortality and morbidity. Under this program, the public health sector provides various family planning services at various levels of the health system. Hence, all the above-mentioned factors are expected to drive the segment growth of the Contraceptive Devices market.

NORTH AMERICA IS EXPECTED TO DOMINATE THE OVERALL CONTRACEPTIVE DEVICES MARKET:

North America is expected to dominate the overall Contraceptive Devices market during the forecast period. This domination is due to the rising prevalence of STDs, increasing healthcare expenditure, and improved healthcare infrastructure, among others.

Further, In the United States, the risk of being affected by a sexually transmitted disease is increasing dramatically due to the increase in unprotected sex and decreased condom use among vulnerable groups, including young people and gay and bisexual men, as per the CDC, 2019 data. This indicates that most Americans are likely to be affected by the sexually transmitted disease, in the coming decades. This situation is giving rise to a critical need for contraceptive devices for the prevention of transmission of STDs.

According to the Centre for Disease Control and Prevention (CDC), in 2018, 1 in 5 people in the U.S. had a sexually transmitted infection (STI). The prevalence of STIs in the United States was nearly 68 million infections in 2018 and 26 million new STI cases were reported. The CDC data also indicated that nearly half of all new STI infections occur among the nation’s youth, with 45.5% of all new STIs were among young people ages 15-24 in 2018.

Moreover, increasing U.S. government support and funding to improve family planning and reproductive health (FP/RH) is also likely to drive the contraceptive devices market. For instance, in the year 2019, as per the Global Health Policy data, total U.S. funding for FP/RH, which includes the U.S. contribution to the United Nations Population Fund (UNFPA), was USD 608 million in FY 2019, up from USD 425 million in FY 2006. Thus, such an increase in funding is anticipated to stimulate the Contraceptive Devices market.

However, Europe and Asia-Pacific region have the future potential growth for the Global Contraceptive Devices. This is due to the rising burden of the population in the Asian countries and European countries also. The urgent need for family planning to curb the expanding population, various technological advancements, rising public awareness regarding reversible and cost-effective contraceptive measures, and emerging of local players in the specific regions is likely to boost the Contraceptive Devices market.

CONTRACEPTIVE DEVICES MARKET KEY PLAYERS:

Some of the key market players operating in the Contraceptive Devices market include Bayer Healthcare, Cooper Surgical Inc., Teva Pharmaceutical Industries Ltd, Reckitt Benckiser, FemCap Inc., The Female Health Company, Meril Life Sciences, Pregna International, and others.

RECENT DEVELOPMENTAL ACTIVITIES IN THE CONTRACEPTIVE DEVICES MARKET:

• In February 2020, Agile Therapeutics, Inc received the US FDA approval for Twirla® (levonorgestrel and ethinyl estradiol) transdermal system which is a new weekly contraceptive patch delivering a 30 mcg daily dose of estrogen and 120 mcg daily doses of progestin.
• In January 2020, Bayer AG and Daré Bioscience, Inc., a clinical-stage biopharmaceutical company committed to the advancement of innovative products for women’s health, entered into a licensing agreement under which Bayer may commercialize Daré’s investigational contraceptive product, Ovaprene® in the United States once approved by the FDA.

KEY TAKES AWAY FROM THE CONTRACEPTIVE DEVICES MARKET REPORT STUDY

• Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Contraceptive Devices market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Contraceptive Devices Market.
• Various opportunities available for the other competitor in the Contraceptive Devices Market space.
• What are the top performing segments in 2020? How these segments will perform in 2026.
• Which is the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Contraceptive Devices market growth in the coming future?

TARGET AUDIENCE WHO CAN BE BENEFITED FROM THIS CONTRACEPTIVE DEVICES MARKET REPORT STUDY

• Contraceptive Devices providers
• Research organizations and consulting companies
• Contraceptive Devices-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in Contraceptive Devices
• Various End-users who want to know more about the Contraceptive Devices Market and latest technological developments in the Contraceptive Devices market.

FREQUENTLY ASKED QUESTIONS FOR CONTRACEPTIVE DEVICES MARKET:

What are Contraceptive Devices?

Contraceptive devices are used for birth control by preventing unwanted pregnancies. Devices such as condoms, vaginal rings, IUDs are among a few of the contraceptive devices available in the market. Apart from preventing unintended pregnancies some of the contraceptive devices are also used as a prevention of sexually transmitted diseases.

What is the market for Global Contraceptive Devices?

Global Contraceptive Devices Market was valued at USD 31.32 billion in 2020, growing at a CAGR of 6.71% during the forecast period from 2021 to 2026, to reach USD 41.84 billion by 2026.

What are the drivers for Global Contraceptive Devices?

The major factors driving the demand for Contraceptive Devices are the rising concern of overpopulation in many countries, the increasing number of unintended pregnancies, and complications associated with STDs. Also, rising government initiatives for raising awareness regarding contraception are a driving factor in low-income and developing countries.

What are the key players operating in Global Contraceptive Devices Market?

Some of the key market players operating in the Contraceptive Devices market include Bayer Healthcare, Cooper Surgical Inc., Teva Pharmaceutical Industries Ltd, Reckitt Benckiser, FemCap Inc., The Female Health Company, Meril Life Sciences, Pregna International, and others.

What regions have the highest share in the Contraceptive Devices market?

North America is projected to dominate the overall Contraceptive Devices market during the forecast period, 2021-2026 due to the rising prevalence of STDs, increasing healthcare expenditure, and improved healthcare infrastructure, among others.

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