Press release
Next-Generation Contraceptives Market Top Players - Reckitt Benckiser Group Plc, Teva Pharmaceuticals Industries Ltd., The Female Health Company/Veru Inc., Afaxys, Inc, Aditxt.
Next-Generation Contraceptives Market
According to the latest research by InsightAce Analytic, the Global Next-Generation Contraceptives Market is expected to grow with a CAGR of 8.2% during the forecast period of 2024-2031.
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The next-generation contraceptives market is rapidly evolving, poised to revolutionize how individuals manage their reproductive health. These innovative products and technologies offer significant advancements in efficacy, safety, and user experience compared to traditional methods. This evolution addresses critical challenges such as side effects, medical concerns, and inconvenience associated with current contraceptive options, aiming to enhance the overall quality of reproductive healthcare. Hormonal methods, including injectables, patches, and implants, are introducing more effective and convenient options. Non-hormonal alternatives like condoms, vaginal rings, and intrauterine devices (IUDs) further diversify choices, catering to individual preferences and needs.
Beyond personal convenience, the significance of next-generation contraceptives extends to global reproductive health outcomes. In low- and middle-income countries with limited access to modern family planning methods, these innovations can play a pivotal role in reducing unintended pregnancies, decreasing rates of abortions, and combating sexually transmitted infections (STIs). By improving access to reliable contraception and expanding the range of options available, these advancements contribute to promoting better reproductive health and well-being worldwide.
List of Prominent Players in the Next-Generation Contraceptives Market:
• AbbVie
• Bayer Corporation
• Cooper Surgical, Inc.
• Merck & Co Inc.
• Pfizer
• Reckitt Benckiser Group Plc
• Teva Pharmaceuticals Industries Ltd.
• The Female Health Company/Veru Inc.
• Afaxys, Inc
• Aditxt
• Daré Bioscience, Inc
• TherapeuticsMD, Inc
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Market Dynamics:
Drivers:
A significant driver in the Next-Generation Contraceptives Market is the increasing awareness and concern regarding sexually transmitted diseases (STDs), which affect more than 1 million people aged 15-49 globally each day, with a majority of infections being asymptomatic. This rising prevalence, especially among young people and in low- and middle-income countries, is driven by factors such as heightened sexual activity and limited access to healthcare services. Consequently, there is a growing demand for next-generation contraceptives that provide dual protection against both unintended pregnancies and STDs. These innovative products combine hormonal and non-hormonal methods to offer comprehensive reproductive health solutions, highlighting the market's shift towards more effective and user-friendly contraceptive options that cater to broader health concerns.
Challenges:
Several challenges hinder the widespread adoption of next-generation contraceptives in the market. Firstly, regulatory approval processes are often lengthy and costly, delaying the entry of innovative products and technologies. This impediment can slow down their availability to consumers and inhibit market growth. Secondly, the higher cost of next-generation contraceptives compared to traditional methods poses a barrier, particularly for low-income populations, limiting accessibility and adoption rates. Moreover, inadequate public awareness and education about these new contraceptive options further hinder their acceptance and uptake. Addressing these challenges requires efforts to streamline regulatory processes, reduce costs, enhance public education initiatives, improve distribution networks, and prioritize safety assessments to ensure these products are widely accessible and accepted globally.
Regional Trends:
North America leads the Next-Generation Contraceptives Market due to robust factors driving demand for innovative family planning solutions. The region boasts high awareness and adoption rates of next-generation contraceptives, particularly among women, supported by a strong healthcare infrastructure that ensures widespread availability through pharmacies, clinics, and hospitals. Government support in countries like the United States and Canada further bolsters market growth, with initiatives aimed at expanding access to these advanced contraceptive options, especially in underserved communities. The region's emphasis on effective solutions aligns with increasing awareness of reproductive health and the need for improved efficacy, safety, and user experience compared to traditional methods, cementing North America's leadership in driving advancements in contraceptive technologies.
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Recent Developments:
• In June 2024, CooperSurgical acquired ZyMōt Fertility, previously a subsidiary of DxNow, Inc., marking a significant addition to its portfolio of assisted reproductive technology (ART) products and services. ZyMōt Fertility is renowned for its innovative sperm separation device, which holds a unique position in the global market. This acquisition underscores CooperSurgical's commitment to expanding its capabilities in the ART sector and enhancing its offerings to meet the evolving needs of fertility clinics and patients worldwide.
• In April 2023, Veru Inc. (NASDAQ: VERU), a biopharmaceutical company specializing in oncology and viral diseases, including SARS-CoV-2 related conditions, and with a commercial sexual health division, has signed a Purchasing Agreement with Afaxys Group Services, LLC (AGS). This agreement enables Veru to supply its FC2 Female Condom® (internal condom) through AGS's Group Purchasing Organization (GPO). The initiative aims to benefit up to 31 million women and men reliant on community and public health centers for essential healthcare.
Segmentation of Next-Generation Contraceptives Market-
By Type of Gender
• Male
• Female
By End User
• Hospital Pharmacies
• Retail Pharmacies
• Online Channels
• Others
By Offering
• Drugs
• Devices
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
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Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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