Contraceptive Devices Market Rising in United States | Fortune Business Insights
Several private institutions and government organizations are actively participating to spread awareness on the use of contraceptives. This, as per Fortune Business Insights is the chief driver of the global contraceptives devices market. Fortune Business Insights in a new report, titled “Contraceptives Devices: Global Market Analysis, Insights and Forecast, 2018-2025” predicts the market to exhibit a CAGR of 6.0%. The report further calculated the value of the contraceptives devices market as US$ 7013.8 Mn in the year 2018 and expected the market to reach US$ 11166.4 Mn by 2025.
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Contraceptives devices for female are
expected to lead the contraceptives devices market during the forecast period.
Contraceptive devices for female are available in different types, among which
the report emphasizes on the rising uptake of intrauterine contraceptive
devices. Some of these include diaphragms & sponges, vaginal rings,
sub-dermal implants, and female condoms. Consequently, the sales of female
contraceptive devices are accelerating at an exponential rate. As per Fortune
Business Insights, the female contraceptive devices segment held nearly 54.8%
of the overall market in the year 2017 and is expected to remain dominant over
the forecast years.
With the advent of advanced
technology, hormonal contraceptives are likely to lead the contraceptive
devices market. This is mainly on account of their enhanced efficiency and
rising preference among consumers. Governments in several countries are
actively participating in the distribution of contraceptive devices across
several hospitals. This further makes hospital pharmacies one of the leading
source for birth control devices.
Robust Government Initiatives Across Regions
for Women and Child Health Stokes Growth
Fortune Business
Insights forecasts considerable increase in the use of contraceptive devices in
response to increasing government initiatives towards promoting the health and
wellness of women and children. In addition to this, active participation by
governments in promoting family planning and contraception, especially in
emerging nations is identified as a key factor driving the global contraceptives
devices market. Moreover, improving literacy rates among women has led to the
rise in adoption of contraceptive devices across the world. Spurred by these
factors, the contraceptive devices market is projected to expand significantly
in the forecast period, 2018-2025.
Several factors are
influencing growth of the market. For instance, the availability of female
contraceptive devices and global acceptance of intrauterine devices are growth
engines for the market. These factors will propel the sales of contraceptive
devices at an exponential rate in the coming years
Contraceptives
devices are available for both male and female. The female contraceptive
devices segment cover 54.8% contraceptive devices market share in the year 2017
and is likely to emerge dominant till 2025. This market will also gain from the
introduction of technologically enabled hormonal and barrier contraceptives.
The hormonal contraceptive segment in the market is likely to lead owing to its
rising preference among public and efficiency. In addition to this, the rising
demand for hospital pharmacy is expected to increase the use of contraceptive
devices across the globe. The increased uptake of implantable contraceptive
devices by healthcare professionals and active government support for
distribution of contraceptives through government aided hospitals are
responsible for the growth of this segment.
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