The global female contraceptives market was valued at more than $12 billion in 2015 and is expected to reach around $15 billion by 2020, says Technavio.
Technavio has announced its latest market research report on female contraceptives for the forecast period, 2016-2020. This market analysis, under the health and wellness portfolio, discusses the major drivers and key emerging trends that will influence the growth of the global market during the forecast period. Some of the top vendors listed in this industry analysis include Allergan, Merck Millipore, Pfizer, and Teva Pharmaceuticals.
In terms of geographical analysis, the Americas is expected to account for the largest share of the global market, reaching revenues of almost $6 billion by 2020. The US will emerge as the key revenue generator in the region.
“The prevalence of STDs among people aged 15-24 years is on the rise. This age-group contributed to almost half of the STD cases registered during 2014. The alarmingly high prevalence of STDs, especially among adolescents has led to the increased use of various methods of contraception. Some of the most commonly used contraceptives include oral contraceptives, condoms, and permanent procedures such as sterilization,” says Amber Chourasia, a lead analyst at Technavio for health and wellness.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Growing importance of family planning
Unplanned pregnancies resulting from unprotected sexual intercourse, contraceptive failure, incorrect use of contraceptives, forgotten pills, and sexual assault is on the rise. About 60% of all pregnancies in developed regions such as North America, especially the US, are unplanned. The use of effective contraception devices can prevent almost 90% of abortion-related and around 20% of pregnancy-related morbidity and mortality cases in developing countries.
Several governmental and non-governmental organizations are attempting to counter this by creating awareness about voluntary family planning. Organizations such as the Asia Pacific Council on Contraception, European Society of Cardiology, and International Planned Parenthood Federation are conducting programs to spread awareness of contraceptive devices and drugs worldwide.
Proliferation of strategic initiatives
Innovation and effectiveness of female contraceptives are the fundamental drivers for its increasing adoption across the globe. Several vendors are entering into strategic alliances and investing in R&D for product innovation and better financial stability. Such collaborations enable them to develop new and innovative products with better efficiency, safety, and protection. These strategic decisions also help companies generate revenue and acquire a significant share of the market. For instance, in 2015, Actavis and Medicines360 collaborated to develop Liletta, a levonorgestrel-releasing hormone, which will help in evading pregnancy for up to three years. Through the collaboration, Liletta will be accessible in the US commercially, as well as at a lower cost at public health clinics under the 340B Drug Pricing Program.
Rise in exploration of sexual fantasies
Sexual norms, behaviors, and attitudes are undergoing a transformation globally. Influenced by increased exposure to the Internet, TV shows, and erotic fiction, the current generation is embracing changes in the perception toward experimentation regarding sex. They are also aware of the importance of protection during sex. IUDs and contraceptive pills help in preventing pregnancy for a longer duration of time if taken in the right way. The optimal use of modern contraceptive methods can reduce unintended pregnancies by 70%, prevent newborn deaths by 77%, avoid maternal deaths by 67%, lower the burden of disability related to pregnancy and delivery by two-thirds, and eliminate the transmission of HIV from mothers to newborns through a 93% reduction annually.
Some of the other prominent vendors identified in this report are Afaxys, Agile Therapeutics, Ansell, Bayer Pharma, Caya, Ferring Pharmaceuticals, Female Health, Fuji Latex, HLL Lifecare, Janssen Pharmaceuticals, Lipocine, Lupin Pharmaceuticals, Mayer Laboratories, Okamoto Industries, Reckitt Benckiser, Syzygy Healthcare, and V-Care Pharma.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Female Contraceptives Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Emergency Contraceptive Pills Market 2016-2020
- Global Sexual Wellness Market 2016-2020
- Global Contraceptive Devices Market 2015-2019
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