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The contraceptive is a type of device or medication drug for preventing pregnancy, transmission of sexually transmitted infections, and for birth control & family planning. Their use, especially among the teenagers and the increase in awareness regarding sexually transmitted infections (STIs) are the major factors driving the growth of the contraceptives market. The global contraceptive market is anticipated to generate revenue of $24.2 billion in 2018 and to grow at a CAGR of 6.96% between 2019 and 2027.
The rising customer awareness and government initiatives, the growing incidence of unwanted pregnancies, and the swelling occurrence of sexually transmitted diseases (STD) are the primary market drivers for the advancement of the global contraceptive market. Contraceptive drugs & devices are used extensively for various purposes. The contraceptive drugs comprise of oral contraceptive pills, injectable contraceptives, and topical contraceptives whereas contraceptive devices are male condoms, female condoms, diaphragms, contraceptive sponges, vaginal rings, subdermal implants, and intra-uterine devices. These pills are highly effective drugs used for preventing unwanted and unplanned pregnancy, and for regularizing periods.
Geographically, the global contraceptive market has been segmented on the basis of four major regions, namely, North America, Europe, Asia Pacific and the remaining countries collectively forming the Rest of World regional segment.
On the other hand, the Asia-Pacific market is anticipated to the fastest-growing region for the contraceptive market. The Asia-Pacific contraceptives market is on a continuous rise due to the increase in the need for contraceptives in developing economies. The main challenge that has been reported in this region is providing sexual health information & services to an inappropriate population.
OCON Medical Ltd., Cooper Surgical Inc., Agile Therapeutics, Apothecus Pharmaceutical Corporation, Teva Pharmaceutical Industries Ltd., Merck & Co., Inc., Pregna, Reckitt Benckiser PLC, Pfizer, Inc., Afaxys, Inc., Church & Dwight Co., Inc., Mayer Laboratories, Inc., Bayer AG, Okamoto Industries, Inc., and Allergan Inc. are the major companies whose profiling have been extensively carried out in the report.