Contraceptives Drugs And Devices Market 2016 by Global Trends and Key Companies 2024 - Teva Pharmaceutical Industries Ltd., Church & Dwight Co. Inc., Reckitt Benckiser Plc, Pfizer, Inc., Bayer AG, Mayer Laboratories, Inc., The Female Health Company, Coope

Coherent Market Insights has announced the addition of the “Global Contraceptives Drugs And Devices Market Size Status and Forecast 2024”, The report classifies the Global Contraceptives Drugs And Devices Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

Contraceptives are birth spacing products that aid in avoiding unwanted/ unplanned pregnancy. There are five widely used contraceptive methods namely barrier method, hormonal method, emergency contraception, intrauterine method, and sterilization. Women can opt for wide range of contraceptive options such as vaginal rings, diaphragms, female condoms, oral pills, and intra-uterine devices (IUD). Selecting the most appropriate method is critical to avoid undesired side effects. The use of contraceptives can avoid 60% of maternal deaths and 57% of child deaths worldwide, as opined by the World Health Organization (WHO) in 2014. Therefore, various family planning initiatives have been introduced across the globe be governmental and non-governmental agencies in order to create awareness about prevention of unplanned pregnancy.

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Factors impacting the contraceptive drugs and devices market in different regions:

- Implementation of the stringent two-child policy in China since 2016, is a major factor driving demand for contraceptives in the country
- Societal stigma impacting the demand for contraceptives negatively in Asia and Africa
- Government programs encouraging the use of selected contraceptives affecting the market for other products (Indian government provides incentives for sterilization and distributes free condoms, while the U.S. Affordable Care Act emphasizes on complete insurance coverage for long-acting reversible contraceptives (LARC)

The global contraceptive drugs and devices market was valued at US$ 18,273.2 million in 2015 and is expected to expand at a CAGR of 7.8% during the forecast period (2016 – 2024).

Favorable reimbursement scenario in the U.S. to propel uptake of contraceptives
Thousands of women are protesting against the new policies of President Trump on the Affordable Care Act (for products and services including reproductive health) which is likely to impact the affordability and accessibility of products to U.S. citizens. The State, however, announced insurance coverage of health and reproductive products to continue without any co-pays, co-insurance or deductibles. In addition to this, the new policy would also cover all medically essential abortion services for the U.S. population. This is a much anticipated relief for the general population in the U.S., where around 45% of all pregnancies reported are unintended (CDC, 2009-2013 study data).

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Market Dynamics

Use of contraceptives is low in emerging economies especially in Africa, according to report ‘Trends in Contraceptive Use Worldwide 2015’, of the United Nations in 2015. Moreover, WHO estimates that around 225 million women in as of 2015, emerging economies who would like to delay their pregnancy are not using any contraception method. The impact of this is realized through the number of abortions carried out each year, with around 21.6 million unsafe abortions reported annually. Around 85% of these are reported in emerging economies in Africa and Asia, as per estimates of WHO (2016). Increasing awareness among the population through government initiatives and increasing accessibility to various contraceptive devices and drugs are expected to propel growth of contraceptive drugs and devices market in the near future.

The demand for advanced contraceptive options such as IUD, injectables, combined oral pills and diaphragms is observed to be high globally. This is owing to growing awareness among the populace, availability of reimbursement and growing demand for long term contraceptive methods.

Detailed Segmentation:

Global Contraceptives Drugs And Devices Market, By Product Type:
Oral Contraceptive Pills
Contraceptive Injectables
Topical Contraceptives
Male Contraceptive Devices
Female Contraceptive Devices
Contraceptive Drugs
Contraceptive Devices

Global Contraceptives Drugs And Devices Market, By Geography:
North America
Latin America
Europe
Asia Pacific
Middle East
Africa
Company Profiles

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This release was published on openPR.