Contraceptives Market share to grow at over 6.8% CAGR between 2016 – 2023: Fractovia.org According to the report “Contraceptives Market Size By Product (Drugs [Oral Contraceptive Pills, Injectables, Topical], By Devices Condoms, Diaphragms, Sponges, Vaginal Rings, Subdermal Implants, Copper IUD, Hormonal IUD], Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Japan, China, India, Brazil, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2016 – 2023”, Contraceptives Market has been a lucrative part of the healthcare industry, and taking into account the population concerns, the market will continue to grow significantly over the coming years. Rising concerns regarding the population growth as well as increasing numbers of Sexually Transmitted Diseases (STD) are primarily the factors driving the industry growth. As per CDC (Centers for disease control and prevention), 19 million cases of STD infection are registered every year among people aged between 15 to 24. It also suggests that 24000 women infertility cases are registered every year as a result of STDs. Moreover, half a million STD cases are diagnosed every year in the UK. These numbers show the prevailing growth of these sexually transmitted diseases which has become a matter of concern worldwide.
Another research from CDC depicts that 37% birth in US comes under the category of unwanted pregnancy. The U.S. federal policy has mandated contraceptives coverage by health insurance companies and has also permitted availability of emergency contraceptives (ECs) over-the-counter (OTC). The government is supporting the use of contraceptives in order to control the population growth, and also to curb the healthcare expenditure incurred during abortions and other sexual diseases. However, ethical and social issues pertaining to the use of contraceptives in some regions are likely to hamper the market growth over the coming years. The contraceptives market comprises mainly of two broad segments- drugs and devices. The drug segment includes Oral Contraceptive Pills, Topical, and Injectable drugs. Contraceptive devices can be classified as Condoms, Sponges, Diaphragms, Subdermal Implants, Vaginal Rings, Hormonal IUD, and Copper IUD. Oral Contraceptives market is pegged to grow at a CAGR of 5% over the period of 2016-2023 owing to the increasing awareness and government support. Condoms are likely to lead the device segment of the contraceptives market with an expected
1|Page