London, 9 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global contraceptive devices market 2015-2019, which is expected to grow at a CAGR of 4.88% during the period of 2014-2019.
Growing population and increasing awareness among the consumers drive growth in this market. Government initiatives that focus on spreading awareness through commercial and professional advertisements also increase the demand for contraceptives. Improving safety-oriented healthcare, anticipated legislation, and economies of scale aid in encouraging growth prospects in this market.
“The development of innovative products that meet multiple sexual and reproductive health needs will likely cater to the unmet medical needs of the market. The use of newer contraceptive methods, such as subdermal progestin implants, vaginal contraceptive rings, and transdermal patches, is increasing worldwide,” says Faisal Ghaus, Vice President of Technavio.
“Currently, the use of these products is less than 10% in the US. The revenue share of these products will increase during the forecast period because of their increased safety, convenience, and benefits.”
Key Market Drivers:
- Increased Unplanned Pregnancies.
- Introduction of Advanced Products.
- High Incidence of STDs.
- Need for Population Control and Family Planning.
Key Market Trends:
- Increased Strategic Alliances.
- Development of Advanced Contraceptives.
- Increased Population of Career-focused and Financially Independent Individuals.
- Rise in Awareness Programs and Initiatives.
Key Market Vendors:
- Actavis plc
- Ansell Ltd.
- Bayer AG
- Church & Dwight Co. Inc.
- Merck & Co. Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
