The global contraceptives market is gaining from the increasing number of awareness campaigns that propagate contraceptives to be the effective method to prevent unintended pregnancy. Celebrity endorsements of these campaigns is particularly favoring the use of contraceptives among young adults who have the mindset to imitate famous people.
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In urban areas, modern education and career aspirations have been crucial factors for the increasing use of contraceptives. Increasing number of women in the workforce and practices of seeking expert help for delayed pregnancy are driving the adoption of contraceptives.
Proving to challenge the market’s growth are side effects associated with hormonal contraception which is slowing their adoption among wary consumers.
Contraceptives, available in the form of drugs and devices, prevent sexually transmitted infections and unintentional pregnancy. Every year on 26th September, the World Contraception Day is celebrated by an alliance of 14 NGOs medical societies, and government organizations. This coalition is funded by Bayer Pharma AG. Such partnerships are predicted to spread awareness about reproductive health and sexually transmitted diseases among the masses.
The global contraceptives market is segmented on the basis of geography and product type. By geography, the global contraceptives market is divided into Asia Pacific, Europe, North America, and Rest of the World. In 2013, the global market was dominated by North America. Factors such as the high occurrence of unplanned pregnancies, favorable reimbursement policies, and the rising use of contraceptive pills are responsible for the dominance of the North America contraceptives market. Asia Pacific is projected to be the fastest-growing market for contraceptives owing to the growing use of contraceptive pills for pregnancy prevention.
By product type, the global contraceptives market is classified into drugs and devices. The analysts divide the drugs segment into oral contraceptive pills, topical contraceptives, and contraceptive injectable. The devices segment is sub-segmented into male contraceptive devices and female contraceptive devices. Low cost and ease of use make the female contraceptives the dominant segment in the global market. The growing number of unintended pregnancies, especially in rural areas, has propelled the demand for various contraceptives.