According to the latest report by IMARC Group, titled "Contraceptive Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global contraceptive devices market size reached US$ 19.30 Billion in 2020. Contraceptive devices are fertility and birth control tools and products that are widely used for preventing unwanted pregnancies and sexually transmitted diseases (STDs) or infections. These devices are used to either change the mechanism of ovulation or act as physical barriers between the sperm and ovum. Some of the most commonly used contraceptives include male and female condoms, vaginal rings, diaphragms, cervical caps, sponges, subdermal implants and intrauterine devices (IUDs). These tools are usually laced with spermicides to prevent insemination and minimize the risks of developing infections, such as human immunodeficiency virus (HIV).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Contraceptive Devices Market Trends:
The market is primarily driven by the increasing rates of unintended pregnancies and unplanned births on the global level. This, along with the rising awareness among the masses regarding the available options for avoiding unplanned pregnancies, has impelled them to use contraceptive devices as a precautionary measure. Moreover, the growing incidences of sexually transmitted diseases, such as chlamydia, gonorrhea, trichomoniasis, hepatitis B and HIV/AIDS, have led individuals to utilize these devices as a safer course of action. Along with this, numerous government and non-government organizations (NGOs) are undertaking initiatives to educate the masses, especially in rural regions, about family planning and the advantages of using contraceptive devices. They are also spreading awareness about the importance of reproductive health and the medical issues caused by unexpected pregnancies. The market is further driven by the introduction of innovative product variants that offer improved efficiency and minimal side effects. The advent of reusable and copper IUDs is providing an impetus to the market as its use does not alter the hormone levels in user’s body that further leads to uncomplicated pregnancies without long-term effects. Some of the other factors contributing to the market growth include the increasing availability of cost-effective contraceptives and the rising preference for long-acting reversible contraception (LARD). On account of the aforementioned factors, the market is expected to grow at a CAGR of 6.20% during 2021-2026.
- On the basis of the device type, the market has been divided into condoms, diaphragms, cervical caps, sponges, vaginal rings, IUDs, and others.
- Based on the end user, the market has been bifurcated into male and female.
- On the basis of the distribution channel, the market has been classified into hospital pharmacies, retail pharmacies, online stores and others.
- Based on the application, the market has been segmented into household, commercial and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Allergan plc, Bayer AG, Church & Dwight Co., Inc., CooperSurgical Inc., Merck & Co., Mylan Inc., Pfizer Inc., Reckitt Benckiser Group plc, Teva Pharmaceutical Industries Ltd., and The Female Health Company.
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