Recently, the use of contraceptive devices has been increasing due to an increasing number of unwanted pregnancies and the increasing awareness about sexually transmitted diseases (STDs).
- These factors have been primary drivers for the growth of the studied market. Moreover, initiatives by governments to raise awareness regarding contraceptives and family planning have also helped the growth of the market.
- However, the side effects of contraceptive devices have been restraining the studied market's growth.
Key Market Trends
Condoms are Expected to Dominate the Contraceptive Devices Market
A condom is a sheath-shaped barrier device used during sexual intercourse to reduce the probability of pregnancy or a sexually transmitted infection (STI). There are both male and female condoms. With proper use, women whose partners use male condoms experience a 2% per-year pregnancy rate. Their use greatly decreases the risk of gonorrhea, chlamydia, trichomoniasis, hepatitis B, and HIV/AIDS. They also to a lesser extent protect against genital herpes, human papillomavirus (HPV), and syphilis.
The use of condoms has been increasing in not just the developing economies, but also developed countries. According to the U.S. Centers for Disease Control and Prevention Report, 2017, about one-third of the men or 33.7% said they used a condom the last time they had sex in the United States in 2017. This number had been reported to have increased from 29.5% in 2002, as per the report. Therefore, the increased use of condoms is expected to help the studied market's growth.
North America is Expected to Dominate the Contraceptive Devices Market
North America is expected to register high growth, owing to the increasing prevalence of STDs, the high adoption rate of contraceptive devices, and the rising number of government initiatives that help in increasing the overall market.
According to the research article published, in 2018, “Contraceptive Use in the United States”, it had been estimated that about 62 million American women, used contraceptives in their childbearing years (15 years to 44 years). It had been observed that approximately 43 million of them (70%) are at risk of unintended pregnancy, i.e., they are sexually active and do not want to become pregnant; however, could become pregnant if they and their partners fail to use a contraceptive method correctly and consistently. As a result, the US government has initiated many programs to raise awareness regarding contraceptives.
The US Department of Health and Human Services launched a program, “Contraceptive Action Plan Project (CAP)”, in 2014. The main objective of the CAP is to reduce financial barriers to contraception, promote the most effective methods of birth control, and reduce unintended pregnancies in the United States. CAP’s main motto is to educate women about the birth control and better contraceptive options. Hence, with increase in unintended pregnancies and increase in government initiatives, the market studied is expected to register growth over the forecast period.
The majority of the contraceptive devices are being manufactured by the global key players. Market leaders with more funds for research and a better distribution system have established their position in the market studied. Moreover, Asia-Pacific has been witnessing the emergence of some small players due to the rise of awareness. This has also helped the studied market to grow.
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