Contraceptives Market worth over $39bn by 2027

Contraceptives Market size is set to surpass USD 39 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Contraception, also referred to as birth control, is practiced preventing unwanted pregnancies. Multiple approaches are in practice for contraception offering a broad spectrum of alternatives for the users. The regulations pertaining to development and commercialization of contraceptives follow a pre-set standard to ensure patient safety. Frequent developments in regulatory structure to accelerate the regulatory approval and product commercialization process is projected to prove beneficial for the market growth.
 

Moreover, presence of a host of market players in emerging as well as mature market drives the product availability and accessibility, thereby promoting the adoption of contraceptives. Rising awareness regarding family planning and the surging need to prevent unwanted pregnancies, particularly among the teenage women are some of the factors that contribute to the market expansion.
 

Acceptance and implementation of favourable government initiatives to boost the contraceptives market progression

Implementation of facilitative initiatives by the government to promote awareness concerning unintended pregnancies and family planning is poised to generate enormous product demand, further impelling the industry growth. Several programs intending to cater to the requirement for modern contraception along with reproductive and sexual health services are expected to promote participation of women, adolescents, and young population, at multiple stages of planning, implementation, and evaluation. These developments are projected to surge the industry size substantially in the coming years. For instance, the Office of Disease Prevention and Health Promotion initiated Family Planning services under its Healthy People 2020 initiatives.
 

Family planning services such as contraceptive services at affordable costs, pregnancy testing & counseling, sexually transmitted disease services, and broader reproductive health services, including patient education & counseling are provided. Such initiatives to promote the education and access to family planning services in the U.S. Increased awareness and importance of preconception care owing to improved collaboration among health care providers is predicted to drive the demand for contraceptives, thereby propelling the industry expansion. Further efforts to facilitate research to demonstrate evidence-based standards of preconception care, its affordability, and enhanced tracking of accessibility of these services is anticipated to support the market demand significantly.
 

Browse key industry insights spread across 150 pages with 257 market data tables & 11 figures & charts from the report, “Contraceptives Market Size By Product (Drugs {Oral Contraceptive Pills, Injectable Contraceptives, Topical Contraceptives}, Devices {Condoms [Male, Female], Diaphragms, Contraceptive Sponges, Vaginal Rings, Subdermal Implants, Intra-uterine Devices (Copper, Hormonal)}), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/contraceptives-market-report
 

Rising awareness regarding family planning will stimulate the contraceptives market revenue

The rising awareness and implementation of family planning techniques is significant to enhance public services and policies. The public expenses associated with births resulting from unintended pregnancies are significant and promotes the economic burden on healthcare ecosystem.
 

Family planning promotes the use of contraception in preventing pregnancy-related health concerns for women and infants. The surging awareness of family planning aids in limiting the number of unintended pregnancies and fosters sustainable human & economic development. The implementation of family planning provides timing and spacing of pregnancies to reduce adverse events concerning pregnancy.
 

Government initiatives to promote the use of contraceptive devices to spur the market value

The devices segment in the contraceptives market is expected to reach more than USD 29.5 billion by 2027 owing to the growing awareness regarding the use of condoms, and measures to limit the prevalence of HIV & other STDs. Several national governments are promoting the use of condoms to prevent unintended pregnancies and limit the spread of HIV/AIDS. The Condom Promotion Programme aims to promote the demand & accessibility to condoms in the remote & rural areas and ensure availability of contraceptives in HRG sites, to the vulnerable population intensive areas.
 

Increasing incidence of sexually transmitted diseases (STDs) in UK will fuel the industry demand

UK contraceptives market is slated to showcase 6.2% growth rate through 2027 impelled by a host of factors such as the high prevalence of STIs, growing healthcare expenditure on family planning, and supportive government initiatives. The rising prevalence of STIs to prove conducive for the industry value. In addition to this, the increased healthcare expenditure to increase the access and awareness to family planning to accelerate the industry revenue.
 

Players are emphasizing on strategic initiatives and innovative product launch to expand business operations

Some of the major companies operating in the contraceptives market are Pfizer, Teva Pharmaceutical Industries, Merck & Co., Mayer Laboratories, Reckitt Benckiser, Cooper Surgical, Church & Dwight Co., and Actavis. These market leaders are involved in adoption of strategies such as research collaborations, partnerships, acquisitions, and agreements to gain competitive edge over other competitors.