DUBLIN, July 30, 2021--(BUSINESS WIRE)--The "Contraceptives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, End User, Distribution Channel" report has been added to ResearchAndMarkets.com's offering.
The contraceptives market is expected to reach US$ 29,629.4 million in 2028 from US$ 20,825.0 million in 2020; it is estimated to grow at a CAGR of 4.50% from 2020 to 2028.
The growth of the contraceptives market is mainly attributed to increasing rate of unwanted pregnancies and surge in product innovations and launches. However, lack of adoption in low income countries is projected to deter the market growth.
Sexually transmitted diseases (STDs) have a major impact on sexual and reproductive health worldwide. As per the WHO, more than 1 million sexually transmitted infections (STIs) are acquired every day worldwide. Each year, ~376 million new infections with chlamydia, gonorrhea, syphilis, and trichomoniasis are reported. Contraceptive methods alter the risk of acquiring STDs. For instance, spermicides have been reported to kill a wide range of bacteria and viruses, including HIV, in vitro; moreover, they have been reported to provide protection against gonorrhea, chlamydia, and pelvic inflammatory disease in vivo. Condoms and diaphragms also provide a certain level of protection from bacterial and viral infections.
Growing awareness through government initiatives and sex education programs to reduce the prevalence of STDs offers lucrative opportunities for the growth of the contraceptives market players. Various governments are promoting the use of condoms to prevent unwanted pregnancies and preventing STDs. For instance, the Centers for Disease Control and Prevention (CDC) has Condom distribution programs (CDPs) to prevent HIV and STDs. The program helps in increasing the availability and accessibility of condoms.
Based on product, the contraceptives market is segmented into condoms, intrauterine product (IUDs), vaginal rings, implants, patches, diaphragms, emergency contraceptives, sponges, and others. The condoms segment held the largest share of the market in 2020, whereas the intrauterine product (IUDs) segment is anticipated to register the highest CAGR in the market during the forecast period. Based on end user, the contraceptives market is segmented into home care, and hospitals and clinics. Based on distribution channel, the contraceptives market has been segmented into retail pharmacy, online pharmacy, and hospital pharmacy.
Increasing Rate of Unwanted Pregnancies
Surge in Product Innovations and Launches
Lack of Adoption in Low Income Countries
Increasing Awareness About Sexually Transmitted Diseases
Digital Fertility Methods for Family Planning
Cooper Companies Inc.
Merck & Co. Inc
HLL Lifecare Limited
Church & Dwight Inc.
Pregna International Limited
Mayer Laboratories Inc.
Prosan International B.V.
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