Global Contraceptives Market is Projected to Reach US$17.2 Billion by 2015, According to New Report by Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Contraceptives market. Ironically aided by the financial hardships induced by the recession, world market for contraceptives, which remains one of the few industries untouched by the economic downturn, is projected to reach US$17.2 billion by the year 2015. With majority of the world's people succumbing to economic anxiety, coupled with steady increases in the number of women in the childbearing age, especially in the developing countries, growth in the market is forecast to be steady in the current to long-term period.
San Jose, CA (Vocus) October 25, 2010
All sexually active women face the risk of unwanted/unplanned pregnancy right from the years spanning menarche to menopause. The unprecedented rate of population explosion has become a cause for grave concern the world over. Therefore, a keen interest in curbing the number of unintended pregnancies is one of the top priorities of governments in the developing and developed countries, alike. Social and political considerations have long and heavily influenced the contraceptives market. Driven by an ever-increasing global population, transforming demographic landscape and sociological/cultural changes, contraceptive use continues to gain momentum the world over. Emerging technological advances such as third-generation oral contraceptives and the emergency contraception pill are also contributing to higher and more widespread use.
The ongoing economic slowdown has proved to be a blessing in disguise for the global contraceptives market. Interestingly, the economic slowdown has not resulted in birth control budget cuts, but has in fact created a rise in the use of birth control measures as fears over the cost of unplanned pregnancies rise amid the weak economic climate. Rise in unemployment, loss of health coverage, steep falls in consumer discretionary income, crumbling consumer confidence, reduction in household wealth and uncertainty shrouding the future economic outlook, have induced many women and their partners to make all the necessary efforts required to delay pregnancies. The trend is thrown into sharper relief by the fact that birth rates in the United States, as a case-in-point, declined by over 2.5% in the year 2008. Given the economic hardships, the expensiveness of raising children is currently a commitment, which women can ill afford. The recession clearly is eliciting changes in perceptions and attitudes towards fertility and behavior and practice of family planning. Despite pecuniary considerations, out-of-pocket spending on prescription contraception remains relatively unchanged, primarily because shortsighted skimping on birth control measures results in greater expenditure in the form of abortions, and unplanned birth, and child rearing in the future.
As stated by the new market research report, Europe and the US, together account for a major share of the global market. In addition to the recessionary drivers for growth, global contraceptives market also stands benefited from rising number of women in the childbearing age, and increased awareness over the importance of prevention of sexually transmitted diseases. Segment wise, Oral Contraceptives is the largest product market worldwide. Surgical male and female sterilization procedures have especially benefited from the recession, as economic uncertainties and fears over job security help speed up decisions to schedule these surgeries at the earliest, when still under corporate healthcare coverage. Additionally, financial instability of numerous households, and the rising costs of childbearing and rearing, is leading to decreased desire for having larger families, and thus creating a marked preference for permanent birth control options. Small family sizes are thus crucial strategies for households to weather and survive the current economic crisis. Market for Condoms in Asia-Pacific is estimated to wax at the fastest CAGR of more than 6.0% over the analysis period, driven by innovation in marketing campaigns, growing population, government investments in social welfare and family planning programs, subsidized costs, and improvement in public awareness, and easy access to contraceptives.
Like all other industries, contraceptives also contends with challenges manifested in the form of lack of affordable birth control options and measures, which still acts as a dampener on market growth, especially in developing countries. The recession interestingly has fuelled the cost and affordability challenge further. Hit by the recessionary blues, major donors have reduced their aid for family planning services. Additionally, since social welfare programs are closely linked to economic health, the economic slowdown and financial crisis has resulted in several governments worldwide reducing spending on these policies.
Key players in the marketplace include Ansell Limited, Bayer Schering Pharma AG, Female Health Company, Church & Dwight Co. Inc., Conceptus Inc, Condomi Health International, Ortho-McNeil-Janssen Pharmaceutical Inc, Merck & Co Inc., SSL International PLC, Teva Pharmaceutical Industries Limited, Wyeth Corporation, Warner Chilcott, among others.
The research report titled “Contraceptives: A Global Strategic Business Report” announced by Global Industry Analysts, Inc. provides a comprehensive review of market trends, drivers, challenges, competition, company profiles, mergers, acquisitions and other strategic industry activity. The report provides market estimates and projections (US$) for major geographic markets such as United States, Canada, Japan, France, Germany, the UK, Italy, Spain, Russia, Asia, Latin America and Rest of World. Product markets analyzed include Oral Contraceptives, Condoms, and Implants/Injections, among others.
For more details about this comprehensive market research report, please visit –
Http://www. strategyr. com/Contraceptives_Market_Report. asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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