Favorable government initiatives coupled with increased awareness will accelerate contraceptives market size over the forecast timeframe. Majority of women are following non-permanent methods such as pills, patches, injectable, and implants.
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The U.S. contraceptives to be retailed Over-The-Counter (OTC) and availability of insurance should boost the market. Global campaign “It’s your life-It’s your future” is enabling to create awareness among young adults.
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Contraceptives Market size is estimated to exceed USD 33 billion by 2023; according to a new research report.
Contraceptive devices market size in 2015 was over 68% of the global revenue. Surge in the education levels regarding usage of various contraceptive devices should increase demand for contraceptive devices market.
Condoms are mostly preferable for contraception due to affordability and availability. Condoms market size was over USD 7 billion in 2015, and expanding at over 8% CAGR from 2016 to 2023.
The presence of a varied range of female and male condoms and the overall increase in awareness levels will fuel the market revenue.
Diaphragms are dome shaped flexible disc made up of rubber and silicone. It acts as a barrier to sperm entrance into womb.
Diaphragms market revenue is expanding at 2.5% CAGR from 2016 to 2023. Intra Uterine Devices (IUD) are mainly used for long term contraception up to 5 to 10 years.
According to UN statistics, 14% of married women used IUD for contraception. Robust R&D facilities will offer innovative products such as Liletta are expected to boost contraceptives market size over forecast time frame.
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Contraceptive drugs market size is estimated to exceed USD 9 billion. Oral contraceptive pills market size was the leading product in 2015 on account of high degree of awareness.
U.S. contraceptives market size is set to gain traction on account of rise in the education levels of various novel contraceptive methods coupled with increased sexually transmitted diseases (STD), and growth in the population base of women aged between 15 and 44 years. The regional industry revenue was USD 5 billion in 2015, with growth estimation pegged at 5.4% from 2016 to 2023.
Asia Pacific contraceptives market size growth is a result of the increased healthcare expenditure, infrastructure, and growing disposable income levels. Favorable government initiatives to increase the reproductive education and health levels is a strong revenue driver.
The Brazil contraceptives market size is projected to grow at 9.4% CAGR through the forecast timespan. Free sample distribution and government initiatives to create awareness in LATAM expected to fuel the contraceptives market in the region.
Key industry players include Reckitt Benckiser, Cooper Surgical, Pfizer, Merck & Co., Church & Dwight Co Teva Pharmaceutical Industries, Mayer Laboratories, The Female Health Company, and Actavis.
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