Asia-Pacific Contraceptive Drugs and Devices Market - Growth, Trends, and Forecast (2020 – 2025)
The AsiaPacific contraceptive drugs and devices market is anticipated to record a CAGR of 6.39%, during the forecast period. The major factors attributing to the growth of the AsiaPacific contraceptive drugs and devices market include the necessity to avoid unwanted pregnancies and their complications. The need to avoid unwanted pregnancies, especially in teenage women, is one of the major drivers for this market. It is also observed that more than half of the women identify noncontraceptive health benefits, such as treatment for excessive menstrual bleeding, menstrual pain, and acne, as reasons for use. This is also one of the factors contributing to the growth of the market. The other factors helping the growth of the contraceptives market are the increasing incidence of STDs and the rapid increase in population in the region.
Key Market Trends
Oral Contraceptive Segment is Expected to Hold the Largest Market Share in the AsiaPacific Contraceptive Market
Oral contraceptive pills are seen as the easiest method of contraception in the industry. They act by prohibiting implantation within the uterus if taken within 23 days of having unsafe sexual contact. The simplicity of their usage makes them an ideal contraceptive in the market. These are easily marketed across the region by companies, and thus, easily consumed by a large section of the population, regionally. These factors are expected to contribute to the growth of the market during the forecast period.
The AsiaPacific contraceptive market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market. Some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions across the region. Some of the companies that are currently dominating the market are Bayer AG, Pfizer Inc., Merck & Co. Inc., CooperSurgical Inc., and Allergan PLC.
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