Research Nester published a report titled “Contraceptive Devices Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers a detailed overview of the global contraceptive devices market in terms of market segmentation by device type, distribution channel, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the market.
The global contraceptive devices market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The market is segmented by device type into condoms, diaphragms, cervical caps, vaginal rings, intra uterine device (IUD), and others out of which, the condoms segment is anticipated to hold the largest share over the forecast period. This can be attributed to the ease of use, easy availability, and protection from STDs provided by condoms.
Global Contraceptive Devices Market to Grow by a CAGR of ~7% during 2022 – 2031; Increasing Awareness Regarding Unwanted Pregnancy to Boost the Market Growth
The global contraceptive devices market is estimated to grow on the back of the increasing awareness regarding unwanted pregnancies, and sexually transmitted diseases, along with rising concerns regarding the growing global population. According to the data by the World Bank, the global population reached 7.762 billion in 2020. Moreover, the growing adoption of family planning, and nuclear families, is estimated to boost the market growth. As per the World Health Organization (WHO) data, 842 million women are using contraceptive methods, among the women of 15-49 years age group.
On the basis of geographical analysis, the global contraceptive devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing population, along with higher share of individuals in the reproductive age group.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Global Population to Boost the Market Growth
The global population is growing at an alarming rate, which has caused a surge in concerns amongst the government authorities, as well as the people, as overpopulation can result in increased poverty, hunger, and unequal distribution of all resources. Contraceptive devices play a crucial role in keeping a check on the population, by limiting cases of unplanned pregnancy, which is estimated to boost the market growth. Moreover, various other benefits of contraceptive devices, including protection from sexually transmitted diseases, and facilitating family planning, are anticipated to propel the market growth.
However, various side effects of contraceptive devices are expected to operate as key restraint to the growth of global contraceptive devices market over the forecast period.
Competitive Landscape With Key Players:
This report also provides the existing competitive scenario of some of the key players of the global contraceptive devices market which includes company profiling of Merck & Co., Mylan Laboratories, Church & Dwight Co., Inc., Pregna International Limited, CooperSurgical, Inc., Pfizer Inc., Reckitt Benckiser Group PLC, Teva Pharmaceutical Industries Ltd., The Procter & Gamble Company, and Allergan PLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments.
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On the whole, the report depicts a detailed overview of the global contraceptive devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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