Global Contraceptive Market | Industry Size and Share | to Witness Elevated Growth Through Accruing Of USD 41.3 Bn Earnings By 2028: Trends, Forecast Report by Zion Market Research
NEW YORK, March 14, 2022 /PRNewswire/ -- As per Zion Market Research study, According to report of Zion Market Research, Contraceptive Market industry accumulated revenue worth about US$ 22.1 billion in 2021 and is slated to amass ROI about US$ 41.3 billion by 2028. In addition to this, Contraceptive Market is prognosis to record CAGR of almost 8.25% in 2022-2028. Apparently, growth of contraceptive market over forecast timespan is due to rise in awareness about reproductive health as well as sexual health among married couples. Apart from this, acceptance of birth control procedures will proliferate size of contraceptive industry. Additionally, contraceptive are used prominently by young persons as a preventive measure for avoiding unwanted pregnancies and avoiding sexually transmitted diseases. Favorable government policies and compensation schemes will accelerate progression of contraceptive industry in years ahead.
Zion Market Research published the latest report titled as "Contraceptive Market- By Product (Oral Contraceptive Pills, Topical Contraceptive Pills, Injectable Contraceptive Pills, Diaphragms, Vaginal Rings, Condoms, Contraceptive Sponges, Subdermal Implants, and Intra-Uterine Devices): Global Industry Perspective, Comprehensive Analysis, And Forecast, 2022–2028." into their research database.
Contraceptive Market: Overview
Unmet needs of contraception in both emerging economies and industrially developed countries has steered demand for contraceptive methods in upcoming years. Furthermore, contraceptive use assists in reducing sexually transmitted diseases and unwanted pregnancies. Cost-affectivity of contraceptives and rise in funding of research activities related to producing of new kind of contraceptive with additional features is predicted to generate new growth avenues for contraceptive industry in ensuing years. Reportedly, contraceptive use among married women enhanced across globe from nearly 31% over 1960-1965 to about 58% in 1990. However, the surge was more rapid in emerging economies where use of contraceptive in married women increased from 10% in 1960-1963 to about 54% in 1990. For the record, rise was drastic in east Asia & Latin America and little lesser in some other parts of Asia and North Africa.
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Industry Dynamics:
Contraceptive Market: Growth Drivers
Expansion of contraceptive market over forecast timeline is subject to growing need for reducing risk of sexually transmitted disorders and health related problems. In addition to this, increase in number of gynecologists preferring contraception device for birth control will soar progression of contraceptive market. Apparently, increase in awareness pertaining to new kinds of contraceptives along with surge in utilization of oral pills will result in massive demand for contraceptive equipment. Furthermore, technological breakthroughs & acceptance of new contraception tools will play a pivotal part in growth of contraceptive industry. Nonetheless, hazardous effects of contraceptive medicines can pose a challenge to growth of contraceptive market. Additionally, injectable contraceptive administration has resulted in abdominal bleeding, depression, and alopecia. Apart from this, rise in cases of infertility caused due to intake of contraceptive pills can also hamper business landscape.
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List of Key Players of Contraceptive Market:
- The Female Health Company
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd.
- Amgen Inc.
- Bayer Healthcare Pharmaceuticals LLC
- Pfizer Inc.
- Piramal Healthcare Limited
- Reckitt Benckiser Group PLC
- Lupin Pharmaceuticals Inc.
- Cipla Limited
- Novartis AG
- Glenmark Pharmaceuticals Limited.
Key Industry Insights & Finding of the Contraceptive Market Reports:
- As per the analysis shared by our research analyst, the Contraceptive Market is expected to grow annually at a CAGR of around 8.25% (2022-2028).
- Through the primary research, it was established that the Contraceptive Market was valued approximately USD 22.1 billion in 2021 and is projected to reach to roughly USD 41.3 billion by 2028.
- Huge acceptance of new products in North America will embellish expansion of contraceptive market in North America.
Key questions answered in this report:
- What are the growth rate forecast and market size for Contraceptive Market?
- What are the key driving factors propelling the Contraceptive Market forward?
- What are the most important companies in the Contraceptive Market Industry?
- What segments does the Contraceptive Market cover?
- How can I receive a free copy of the Contraceptive Market sample report and company profiles?
Report Scope:
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Breakthroughs Witnessed in Contraceptive Market:
- In December 2020, Irish Government declared plan on launching free contraception to women ranging from 17 year to 25 years.
- In July 2018, the U.S. administration announced extension of exemption facility to exclude Affordable Care Act law that mandates staff to encompass birth control coverage in health insurance policy.
Regional Dominance:
North America To Contribute Majorly Towards Regional Market Size By 2028
Growth of regional market over forecasting timeline is due to growing awareness about birth control pills in countries such as the U.S. Reportedly, cost-efficiency of contraception in countries such as the U.S. will drive regional market trends. Huge acceptance of new products in North America will embellish expansion of contraceptive market in North America. Rise in launching of awareness schemes related to use of contraceptive & high focus on family planning programs by U.S. government will proliferate size of contraceptive market in sub-continent.
Global Contraceptive Market is segmented as follows:
Contraceptive Market: By Product Outlook (2022-2028)
- Oral Contraceptive Pills
- Topical Contraceptive Pills
- Injectable Contraceptive Pills
- Diaphragms
- Vaginal Rings
- Condoms
- Contraceptive Sponges,
- Subdermal Implants
- Intra-Uterine Devices
Contraceptive Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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