Fitness Trends Contraceptives Drugs And Devices Market

Contraceptives Drugs And Devices Market - Insights,
Opportunity Analysis, and Industry Forecast till
2024
Contraceptive drugs and devices that aid to control birth rate and unintended pregnancies are
subject to unique regulatory challenges across different countries. For instance, contraceptive
drugs and devices face reimbursement challenges in the U.S., while contraceptive pills face
advertising restrictions in India. Owing to this, contraceptives preference greatly various across
countries. Statistics revealed by the United Nations in 2015, highlight this trends, with a
particular contraceptive accounting for over 50% share across 45 countries considered in the
study. Sterilization is a dominant contraceptive method in regions such as Asia, North America,
and Latin America as per the study. Intra-uterine devices (IUDs), vaginal rings, injectables,
implants, combined oral contraceptives, and patches are some of the more advanced
contraceptive methods available in the market. Introduction of new male contraceptive products
with high success rate are projected to shape the course of growth of the market in the near
future.
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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).
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