Global Female Contraceptives Market - Segmented by Type of Contraceptive Drug, Device, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global female contraceptives market is estimated to grow at a CAGR of 8.5% during the forecast period. Need to avoid unwanted pregnancies, especially among the teenage women, is one of the major drivers for this market. Government initiatives, promoting the use of contraceptives to avoid unnecessary births, and health benefits from using contraceptives, have also been important factors, instrumental in market growth.
Need to Prevent Unwanted Abortions
When contraception is affordable, abortion should rarely be necessary. The abortion rate is now at an all-time low in the developed countries- it dropped by more than 40 % over the past 25 years. This is because many anti-abortion groups have grown louder in many European countries, in the recent years. In the United States, the teen pregnancy rate is substantially higher than in other western industrialized nations. According to a report published in 2016, there were 62 million American women in their childbearing years (15–44). About 43 million of them (70%) were at risk of unintended pregnancy, i.e., they were sexually active and do not want to get pregnant; however, they could become pregnant if they fail to use a contraceptive method correctly and consistently. Center for Disease Control and Prevention (CDC) identified the need to curb this growth of unwanted pregnancies, and has taken up initiatives to educate and prevent unwanted abortions and pregnancies- emphasis on the usage of contraceptive pills, is one such initiative. So, the rate of abortion is drastically reducing and the usage of contraceptives such as oral contraceptives usage is increasing. The other factors, like the government and NGO initiatives to promote contraception and the emphasis on family planning, are driving the market.
Side Effects Associated with the Use of Contraceptive Drugs and Devices
Nowadays, a woman has a lot of choices, when compared to the olden days, for wanting to ward off pregnancy. Various methods of contraception include, pills, injection, and vaginal rings comprising of synthetic hormones. Every method is filed with its benefits and side effects. For example, oral contraceptive pills is a well-known method, utilized for avoiding unwanted pregnancy or for family planning. The birth control pill is estimated to be used by around 100 million women, across the world. Like most medications, birth control pills too have side effects. In the same way, a few complications are associated with the use of contraceptive devices like Intrauterine Devices (IUD). There have been cases where a copper IUD was responsible for increased menstrual bleeding and cramps. Spotting between periods has been observed in women using copper IUDs. Such side effects, associated with contraceptive methods, are hindering the growth of the female contraceptive market. The rising prevalence of infertility among women and cultural or religious opposition, are restraining the market growth of the female contraceptives.
The United States has the Highest Market Share
In North America, the United States is dominating the female contraceptives market, due to the maximum percentage of the female population in North America that uses the modern contraceptives techniques. Asia-Pacific is expected to record a substantial growth over the forecast period, due to the increasing awareness among people and several government initiatives.
Key Developments in the Market
October 2017: Lupin acquired Symbiomix Therapeutics LLC.
June 2017: Johnson & Johnson acquired Actelion.
Major Players: BAYER HEALTHCARE AG, MAYER LABORATORIES INC., PFIZER INC., MYLAN PHARMACEUTICALS INC., TEVA WOMEN'S HEALTH INC., MERCK & CO., JOHNSON & JOHNSON LTD, LUPIN PHARMACEUTICALS LTD, THE FEMALE HEALTH COMPANY, and FUJI LATEX CO. LTD, amongst others
Reasons to Purchase the Report
Current and future market outlook for female contraceptives, in the developed and emerging markets
Analyze various perspectives of the market, with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth, during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the market estimate sheet (in excel)
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