Analysis of Contraceptives Market by Research Nester to Reach USD 45 Billion by 2033 Globally
Research Nester assesses the growth of global contraceptives market over the forecast period, i.e., 2023-2033 and evaluates its future prospects. Growing need for family planning and rising government initiatives to increase awareness in people about contraceptive methods to drive market growth. Nearly USD 600 million was funded by Government in 2020 to improve family planning and give better reproductive health services to the people around the globe.
Research Nester’s recent market research analysis on “Contraceptives Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitors analysis and a detailed overview of the global contraceptives market in terms of market CAGR of 6%, Market segmentation by product type, age, end-user, and by region.
Growing Effect of Contraceptives to Prevent Teen Pregnancies to Drive Growth of Global Contraceptives Market
The global contraceptives market is estimated to grow majorly on account of the increased cases of teen pregnancies across the world and the rising need for abortions. As per the observations, 85% of the teen pregnancy reduction is done through the use of condoms and that is proved on account of no reduction in sexual activity among people. The teen birth rate in 2019 is decreased to 16.7 per 1000 females from 17.4 per 1000 females in 2018 as per the Centers for Disease Control and Prevention.
The market research report on global contraceptives encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
By end-user, the global contraceptives market is segmented into home care, clinics, hospitals, and pharmacies. The pharmacies segment is to garner a highest revenue by the end of 2033 by growing at a significant CAGR over the forecast period. Rising number of manufacturers of birth control pills and rising approval to purchase birth control options from the OTC section in retail pharmacies such as condoms, intrauterine devices, and spermicides. As per the estimations, the number of Americans who used condoms to prevent pregnancy risk was 34 million in 2020.
By region, the North America contraceptives market is to generate the highest revenue by the end of 2033. This growth is anticipated by the growing demand for birth control pills and rising awareness among people on different birth control methods. About 14% of women around 15-49 years of age used contraceptive pills to prevent pregnancy risk in the U.S between 2017-2019, as per the Centers for Disease Control and Prevention.
The research is global in nature and covers detailed analysis on the contraceptives market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising of global contraceptives market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
This report also provides the existing competitive scenario of some of the key players of the global contraceptives market which includes company profiling of Novartis Pharmaceutical Corporation, Agile Therapeutics, Inc., GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Piramal Group, Viatris Inc., Pfizer Inc., Bayer AG, Teva Pharmaceutical Industries Ltd., and AbbVie Inc, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global contraceptives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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