Global Contraceptive Devices Market: Overview
Contraceptives devices are a variety of products that are used for the prevention of an unwanted pregnancy. Whilst preventing unwanted pregnancies remain one of the key reasons why contraceptive devices are used, the other important function of a vast variety of contraceptive devices is to prevent the transfer of sexually transmitted diseases or infections. Initiatives taken by government bodies, numerous private organizations, and also several companies operating in the market are playing a key role in increasing awareness regarding population control measures and safer sex. These actions are considered the key growth drivers for the global contraceptives market.
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Despite the presence of several contraceptive drugs in the market, contraceptive devices are preferred more owing to their safer course of action. Products such as male condoms, female condoms, contraceptive vaginal rings, intrauterine devices, sub-dermal contraceptive implants, contraceptive sponges, contraceptive diaphragm, and non-surgical permanent contraception devices are gaining increased demand from across the globe. New product varieties that require minimally invasive surgeries for implantation and provide maximum assurance of safety from infections and unwanted pregnancies are also being introduced at a promising pace in the global market.
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Geographically, the market in North America presently accounts for a significant share in the global market and holds immense promise for future years as well. The well-established healthcare industry in the region, high rate of awareness among the population, and the presence of several leading medical device manufacturing companies are collectively expected to help North America remain a strong regional market for contraceptive devices over the report’s forecast period. However, the market in Asia Pacific is also expected to present highly lucrative growth opportunities to the market for contraceptive devices in the next few years. Countries such as India and China will contribute significantly to this phenomenon with their huge population base, rising disposable incomes, and growing awareness about the usage of contraceptives.
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Contraception is deliberate use of artificial methods or other techniques to prevent pregnancy as a consequence of sexual intercourse. Contraceptive devices are intended to prevent conception. These devices also help to prevent the spread of sexually transmitted infections. Various awareness initiatives taken by market players is a major factor propelling the global contraceptive devices market. Bayer HealthCare, a major player in the contraceptives market, in collaboration with 11 NGOs, organizes the World Contraception Day every year on September 26 to spread awareness about contraceptive methods, enabling young people to take the right decision about their reproductive health.
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Geographically, the global contraceptive devices market can be segmented into North America, Europe, Asia Pacific, and Rest of the World. North America dominates the global market due to high incidence rate of unplanned pregnancies, implementation of the Affordable Care Act in the U.S., and high usage of contraceptive devices in this region. Favorable reimbursement policies for contraceptives by large insurance firms for all federal employees (U.S.) and their dependents has contributed significantly to the growth of the contraceptive devices market in North America. The contraceptive devices market in Asia Pacific is expected to witness the fastest growth during the forecast period. Strong economic growth in India and China, high population, rise in disposable income, increase in awareness about contraceptives and its advantages for preventing pregnancy and sexually transmitted infections are expected to accelerate the growth of the market in the region during the forecast period.
Key players operating in the global contraceptive devices market include Bayer HealthCare AG, Teva Pharmaceutical Industries Limited, Medisafe Distribution, Inc., Actavis, Inc., Medicines360, Pace Pharmaceuticals Inc., Cooper Surgical, Inc., Mayer Laboratories, Inc., Church & Dwight, Co., Inc., Merck & Co., Inc., Reckitt Benckiser plc, and Pfizer, Inc. These players focus on creating various awareness programs and providing contraceptives at cost effective prices to increase market share and sustain in the highly competitive market.
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