ALBANY, New York : According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) “Contraceptives Market (Drugs, Devices, Pills, Hormonal & Copper IUDs, Vaginal Rings, Subdermal Implants, Topical Contraceptives, Injectables, Diaphragms, Sponges, Male & Female Condoms) – Global Industry Analysis, Size, Share, Growth and Forecast, 2012 – 2018,” the global contraceptives market was valued at USD 16.0 billion in 2011 and is expected to grow at a CAGR of 5.5% from 2012 to 2018, to reach an estimated value of USD 23.3 billion in 2018.
The growing prevalence of unwanted pregnancies across the globe especially in developed countries such as the U.S. will serve the market as a high impact rendering driver. This is principally due to the fact that governments of countries experiencing a rise in the prevalence of unwanted pregnancies are rigorously promoting the use of contraceptives to curb unnecessary healthcare expenditures associated with abortions. Some of the other drivers of the market include implementation of the Affordable Care Act in the U.S. which has accelerated the growth of the contraceptives market by widening the reimbursement options, rising number of initiatives undertaken by WHO, governments and other NGOs to elevate contraceptive related user awareness and rising global prevalence of sexually transmitted infections. The presence of a strong contraceptives product pipeline and the presence of large unmet contraceptive needs in emerging Asian and African economies will serve the global contraceptives market with future growth opportunities.
In the global contraceptives market by product types (drugs and devices), the contraceptive devices market held majority of the market share in 2011. Moreover, it is expected to exhibit the fastest growth rate during the forecast period owing to its high usage rates and the introduction of new and technologically advanced products such as Bayer’s Skyla/Jaydess (a hormonal IUD) in 2012 in Europe and in 2013 in the U.S. The male contraceptive devices (male condoms) market held majority of the market share in 2011 at over 45% owing to its high usage rates induced by its easy-to-use features, cheap prices and high effectiveness. The subdermal contraceptive implants is one of the fastest growing segments in the global contraceptive devices market due to the rising popularity of cheap implants such as Sino-implant (II) and the price reduction of Bayer’s Jadelle.