Contraceptive Market is expected to reach a value of US$19.6 billion by 2020, growing at a CAGR of 3.1% from 2014 to 2020: Transparency Market Research

Albany, NY, April 27, 2015 (GLOBE NEWSWIRE) -- A new report published by Transparency Market Research (TMR) has published a report titled "Contraceptives Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020". The report studies the strengths, weaknesses, opportunities, and threats that abound in this market. According to the report, the global contraceptives market was valued at US$15.7 billion in 2013 and is expected to reach a value of US$19.6 billion in 2020, growing at a CAGR of 3.1% from 2014 to 2020. It also offers expert advice on the growth of this market, the factors likely to support the same, and the ones that will inhibit its growth.

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Contraceptives are drugs and devices that enable prevention of an unwanted pregnancy. The other important function of the devices is to prevent transfer of sexually transmitted diseases or infections. Initiatives taken by the government and organizations to control population and promote safer sex are the main growth drivers for the global contraceptives market. The global contraceptives market is segmented by products and geography. The products segment is further broken down into drugs, such as topical contraceptives, injectables, and oral contraceptive pills. The next sub-segment is devices, which consists of male contraceptive devices (such as condoms) and female contraceptive devices such as female condoms, sub-dermal contraceptive implants, contraceptive vaginal rings, intrauterine devices, contraceptive diaphragm, contraceptive sponges, and non-surgical permanent contraception device. Geographically, the global contraceptives market is fragmented into North America, Europe, Asia Pacific, and Rest of the World.

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Out of all these segments, contraceptive devices held the biggest market share, at about 60%, in 2013. This segment owes its huge success to the popularity of devices such as copper IUDs, male condoms, and inexpensive sub-dermal contraceptive implants such as sino-implants. By 2020, the contraceptive devices segment is expected to grow at a CAGR of more than 3.5%. The contraceptives market is expected to witness a steady growth rate; the introduction of female condoms such as Bayer's Skyla in the U.S. market and Jaydess in the European market will encourage this segment to expand in newer directions. Additionally, reduction in the price of Jadelle, a subdermal implant by Bayer HealthCare will also support the contraceptives market in the coming few years.

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In terms of geography, North America held a dominant market share of more than 40% in 2013. However, Asia Pacific is expected to dominate this region with a CAGR of 4.5% in the forecast period. Countries such as India and China will contribute significantly to this phenomenon with their huge population base, rising disposable incomes, and growing awareness about the usage of contraceptives.

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Some of the major market players profiled in this report are Bayer AG, Actavis Inc., CooperSurgical Inc., Church & Dwight Co. Inc., Mayer Laboratories Inc., Merck & Co. Inc., Reckitt Benckiser plc, Pfizer Inc., The Female Health Company, and Teva Pharmaceutical Industries Ltd.

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research