Contraceptives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Albany, NY (PRWEB) February 09, 2015
According to a study conducted by the Centers for Disease Control and Prevention, from 2006 to 2010, 37% of the total pregnancies were unintended in the U.S. Similarly, a study published in Acta Paulista de Enfermagem Journal, technical scientific electronic publication of the Paulista School of Nursing of the Federal University of São Paulo, Brazil, stated that 66.5% of the 191 pregnant women studied from March to September 2010 in Salvador, Brazil, experienced unplanned pregnancy. Large proportion of these unintended pregnancies resulted in abortions, which entailed preventable health care expenditure. In an attempt to curb this redundant health care expenditure, the governments of various countries including developed and developing nations such as the U.S., Sweden, Norway and India are encouraging women to opt for more effective modern contraceptive methods.
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Among the various contraceptives available commercially, contraceptive devices accounted for the largest market share of approximately 60% in 2013. Devices such as male condoms, copper IUDs and inexpensive subdermal contraceptive implants such as sino-implants are some of the contraceptive devices contributing to the high market share of the contraceptive devices segment. The segment is expected to gain further share by 2020 growing at a CAGR of over 3.5%. Introduction of new products such as Bayer’s Skyla (in the U.S.) and Jaydess (in Europe), the increasing popularity of female condoms and the price reduction of Jadelle (a subdermal implant manufactured by Bayer HealthCare) are some of the factors that are expected to augment the contraceptives market during the forecast period.
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On the other hand, the contraceptive drugs market will be growing slowly at a CAGR of 1.3%. Patent expiration of major branded drugs including oral contraceptive pills namely Yaz, Yasmin and Yasminelle, injectable depo provera subQ and contraceptive patch ortho evra, are responsible for slow growth of contraceptive drugs market. The side effects associated with these drugs including blood clots, strokes, higher risk of heart attack and weight gain are also the major reasons that are restraining the contraceptives drugs market.
Geographically, North America accounted for the largest market share (more than 40% in 2013) in the contraceptives market. High incidence rate of unintended pregnancies, implementation of the Affordable Care Act in the U.S. and high usage of expensive oral contraceptive pills in this region are the factors that have propelled the growth of contraceptives market. Favorable reimbursement policies for contraceptives by large insurance firms for all federal employees (U.S.) and their dependents have also contributed significantly for the escalation of the contraceptives in North America.
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With a CAGR of over 4.5%, Asia Pacific is estimated as the most opportunistic regional market during the forecast period owing to the strong economic growth in India and China, rising disposable income, high population growth, increasing awareness about contraceptives and its advantages for preventing pregnancy and sexually transmitted infections. Presence of a large number of generic manufacturers to cater to unmet contraceptive needs is the other major factor that is likely to boost the growth of the contraceptives market. Growing awareness about novel contraceptives is likely to attract many major market players to venture in this market during the forecast period especially in growing economies of Asia Pacific and Africa.
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Major players currently operating in the contraceptives market include Actavis, Inc., Bayer AG, Church & Dwight, Co., Inc., CooperSurgical, Inc., Mayer Laboratories, Inc., Merck & Co., Inc., Reckitt Benckiser plc, Pfizer, Inc., Teva Pharmaceutical Industries Ltd. and The Female Health Company.
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