Top 4 Drivers Effecting the Female Contraceptive Market Until 2020, Reports Technavio
LONDON–(BUSINESS WIRE)–#Contraceptive—Technavio
analysts forecast the global
female contraceptive market to grow at a CAGR of over 3%
during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of
the global female
contraceptive market for 2016-2020. To calculate
the market size, Technavio analysts have considered the overall retail
sales of female contraceptive products globally.
The unregulated nature of this industry has raised concerns about the
health implications related to the composition and use of these
products. However, high investments and rapid advances in product
categories are expected to minimize or eliminate the health concerns of
the users. Vendors are trying to ensure easy availability and anonymous
packaging of products, creating a favorable marketplace and leading to a
high demand in the market. This has proven beneficial for controlling
the population and STIs.
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Technavio analysts highlight the following four factors that are
contributing to the growth of the global female contraceptive market:
- Growing importance of family planning
- Proliferation of strategic initiatives
- Rise in exploration of sexual fantasies
- High rate of unplanned pregnancies
Growing importance of family planning
Unprotected sexual intercourse, contraceptive failure, incorrect use of
contraceptives, forgotten pills, and sexual assault can lead to
unplanned pregnancies. About 60% of all pregnancies in developed regions
such as North America, especially the US, are unplanned. It is followed
by Europe with 44% and Asia with 38% unintended pregnancies. The use of
effective contraception devices can prevent 90% of abortion-related and
20% of pregnancy-related morbidity and mortality cases in developing
countries.
Amber Chourasia, a lead health
and wellness analyst at Technavio, says, “Voluntary family
planning has been widely adopted throughout the world through the
efforts of social media and the governments. Organizations like the Asia
Pacific Council on Contraception, European Society of Cardiology, and
International Planned Parenthood Federation are conducting programs to
spread awareness of contraceptive drugs and devices worldwide.”
Proliferation of strategic initiatives
Innovation and effectiveness of female contraceptives constitute the key
to market growth. Several vendors are entering strategic alliances and
investing in R&D for product innovation and better financial stability,
thereby developing the latest products with better efficiency, safety,
and protection. These strategic decisions help companies generate
revenue and acquire a significant share of the market.
“Many market vendors are entering into joint ventures with small and
domestic vendors to increase their market footprint. These joint
ventures will also help domestic companies regarding growing product
specialization and improve their distribution and sales channels,”
adds Amber.
Rise in exploration of sexual fantasies
Sexual norms, behaviors, and attitudes are undergoing a transformation
globally. There has been an increase in the exploration of sexual
fantasies because of increased exposure to the internet and TV shows.
The current generation is embracing changes in the perception toward
experimentation regarding sex. They are also aware of the importance of
protection during sex. IUDs and contraceptive pills help in preventing
pregnancy for a longer duration of time if taken in the right way.
Despite the economic slowdown, there are new as well as niche players
entering the market.
High rate of unplanned pregnancies
Unplanned pregnancies result in high healthcare expenses, increased risk
to mother and baby, and long-term negative health effects such as
infertility and maternal death. The undesired pregnancy risk is almost
three times greater among individuals who use traditional methods of
contraception and 14 times greater among those who do not use any method
at all. The optimal use of modern contraceptive methods can reduce
unintended pregnancies by 70%, prevent newborn deaths by 77%, avoid
maternal deaths by 67%, lower the burden of disability related to
pregnancy and delivery by two-thirds, and eliminate the transmission of
HIV from mothers to newborns through a 93% reduction annually.
Top vendors:
- Allergan
- Merck Millipore
- Pfizer
- Teva Pharmaceuticals Industries
Browse Related Reports:
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Global
Emergency Contraceptive Pills Market 2016-2020 -
Global
Sexual Wellness Market 2016-2020 -
Global
Contraceptive Devices Market 2015-2019
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