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Contraceptives Market Growth to Remain Steady during the Forecast Period 2017 - 2025
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Further, the awareness campaigns also offer expert guidance about adoption of most effective method of contraception depending on individual need. Woman’s overall health, age, frequency of sexual activity, desire to have children in future, and family history are some of the factors that gynecologists look into before advising the method of contraception.
In developing regions, especially among the urban population, modern education and career aspirations have been crucial factors for the increasing adoption of contraceptives. Increasing number of women in the workforce and nuclear family setups are leading to increasing use of contraceptives for delayed pregnancies. Couples are increasingly seeking expert help for advice regarding the method of contraception to be adopted and guidance regarding family planning that suit their need.
The global contraceptives market has been segmented into North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa based on geography. North America leads among other key regional markets with the region holding a share of 35.0% in 2016. The factors contributing to the growth of North America contraceptives market include rising prevalence of unintended pregnancies, rising trend of delayed child bearing, and growing usage of contraceptives among teenagers.
Europe stood as the second-leading region for contraceptives in 2016. The growth of this market is mainly due to easy availability of modern contraceptives and reimbursement provision for long term reversible contraceptive treatment.
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However, Asia Pacific is projected to display the leading growth rate over the forecast period. Government initiatives to raise awareness to prevent unintended pregnancies, extensive population base in China and India creating massive demand for contraceptives, and rapid economic development are factors that will contribute to the growth of Asia Pacific contraceptives market.
Leading players in the global contraceptives market include Cipla Inc., Bayer AG, Merck Co. Inc., Teva Pharmaceutical Industries Ltd., Allergan plc, Pfizer Inc., Reckitt Benckiser plc, Mankind Pharma, Janssen Pharmaceutical Company, HLL Lifecare Limited, and Mithra Pharmaceuticals among others.
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