Market Trends of Contraceptive Devices Industry
This section covers the major market trends shaping the Contraceptive Devices Market according to our research experts:
Female Segment is Expected to Dominate the Contraceptive Devices Market Over the Forecast Period
The female segment in the contraceptive devices market is expected to witness significant growth over the forecast period owing to the increased adoption of contraceptive devices, rising sexually transmitted diseases, and a growing number of unintended pregnancies.
According to an article published by the Journal of Family Medicine and Primary Care, in June 2021, titled 'A study on contraceptive prevalence rate and factors influencing it in a rural area of Coimbatore, South India', the contraceptive prevalence rate was found to be 75%. The most used contraceptive methods were tubectomy (81.6%), and intrauterine devices (6.3%). In addition, as per the same source, the use of contraception was found to be statistically significantly correlated with the women's older age, religion, educational status, socioeconomic status, employment status, number of living children, age at marriage, and age at first childbirth.
Additionally, according to an article published by BioMed Central, in January 2020, titled 'Exploring young women's reasons for adopting intrauterine or oral emergency contraception in the United States: a qualitative study', it has been observed that emergency intra-uterine devices are important and acceptable options among women owing to their benefits.
Furthermore, the increasing company focus on adopting various business strategies such as product launches, listing products in the countries, mergers, and company spin-offs are likely to boost the growth of the market over the forecast period. For instance, In January 2022, Organon announced the public listings for NEXPLANON (etonogestrel extended-release subdermal implant) in Ontario (Ontario Drug Benefit Program), British Columbia (BC PharmaCare), and Nova Scotia (Nova Scotia PharmaCare).
Similarly, in November 2021, Organon announced the public listings for NEXPLANON (etonogestrel extended-release subdermal implant) in Quebec under the R茅gie de l'assurance Maladie du Qu茅bec (RAMQ). Similarly, in June 2021, Sebela Pharmaceuticals Inc., in collaboration with PRA Health Sciences is conducted phase III clinical trial to assess LevoCept, a long-acting reversible intrauterine system for contraceptive efficacy, safety, and tolerability.
Thus, owing to the aforementioned factors, the market is expected to grow significantly during the forecast period.
North America is Expected to Dominate the Contraceptive Devices Market Over the Forecast Period
North America is expected to dominate the contraceptive devices market over the forecast period owing to the factors such as the rising cases of unwanted pregnancies and high abortion rates, the presence of sophisticated healthcare infrastructure, the high adoption rate of contraceptive devices, and the rising number of government initiatives.
In addition, the rising number of sexually transmitted diseases among the population in the region is also contributing to the growth of the market in the region. For instance, in April 2022, a report published by the Centers for Disease Control and Prevention (CDC) titled 'Sexually Transmitted Disease Surveillance, 2020', stated that STDs remain a significant public health concern in the United States. According to the same source, Chlamydia trachomatis infection was the most prevalent notifiable sexually transmitted infection in the United States in 2020 with a total of 1,579,885 cases reported to the Centers for Disease Control and Prevention (CDC). In addition, as per the same source, 677,769 different gonorrhea infections were reported in the United States, in 2020. Thus, the rising burden of these diseases among the population is expected to increase the demand for male condoms which protect against pathogens such as gonorrhea, herpes simplex virus (HSV), hepatitis B, HIV, and chlamydia which are expected to propel the market growth in the region over the forecast period.
Furthermore, several organizations are also engaged in the implementation of strategic initiatives in the country. For instance, as per the Bill and Melinda Gates Foundation data published in 2022, the foundation is aiming to offer USD 280 million per year from 2021 to 2030 for developing new and improved contraceptive technologies, support family planning programs that reflect the preferences of local communities and enable women and girls to be in control of their contraceptive care.
Thus, owing to the aforementioned factors, the market is expected to grow significantly during the forecast period.
