“Contraceptive Devices Market Size, Share – Growth, Trends, And Forecast (2019 – 2023)”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The global contraceptive devices market was valued at around USD 20 billion in 2017 and is projected to register a CAGR of approximately 7% during the forecast period, 2018 to 2023.
Major Companies Include are: Bayer Healthcare, Pfizer, Merck & Co., Church & Dwight Co., Inc., Teva Pharmaceuticals, Agile Therapeutics, Inc., Actavis Plc, Fuji Latex Co. Ltd, Pantarhei Bioscience B.V., Lupin Pharmaceuticals, Biosante Pharmaceuticals, And The Female Health Company, among others.
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Government Initiatives to Prevent Unwanted Abortions and Pregnancies
Unwanted pregnancies are on the rise, globally. Government bodies of various countries have been taking measures, like promoting the use of contraceptive devices to prevent this unwanted growth. It is estimated that among the number of pregnancies that occur in the United States, nearly 76% of them are unwanted, and are under the age of 30. According to Harvard researchers, it is estimated that single parenthood due to unwanted pregnancies is the reason for holding out on economic mobility, more than other variables like education and race. Given the widespread implications of unwanted pregnancies, the market for contraceptive devices is expected to experience a surge during the forecast period. Also, other factors, like the increasing incidence of STDs and the rapid increase in population, will accelerate the growth of the contraceptive devices market.
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Limited Access to Contraception
Access to safe, voluntary family planning is a human right. Family planning is central to gender equality and women’s empowerment and is a key factor in reducing poverty. Millions of women are unable to prevent unwanted pregnancies, which is impacting their lifestyle, as well as that of the child, both economically and socially. This is happening primarily due to the lack of knowledge and limited access to contraception and is more prevalent among low and middle-income nations of the world. An estimated 69 countries face the problem of limited access to contraception. Lack of awareness and limited supply has been one of the major reasons for the contraceptive devices market’s limited growth in the developing nations. Apart from these, the high cost of conventional contraceptive devices, like intra-uterine device (IUD), is also acting as a barrier to the growth of the market.
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United States Holds the Largest Market Share
There were approximately 60 million women in the United States in their child-bearing years (age 15 � 44), as of 2017. Around 70% of these women were at risk of unintended pregnancy. More than 99% of women aged between 15 – 44 years have used at least one contraceptive method. This indicates the high awareness and demand for avoiding unintended pregnancies in the United States. The use of contraceptive devices accounts for the second largest expenditure on contraceptive methods in the United States, and globally alike.
Key Developments in the Contraceptive Devices Market: –
November 2017: Teva Pharmaceuticals has signed an agreement with CooperSurgical to acquire PARAGARD (an intrauterine copper contraceptive product).
July 2017: Teva Pharmaceutical has announced the launch of Vagifem1 (estradiol vaginal inserts), 10 mcg in the United States.
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