As per the World Health Organization (WHO), during 2016, 214 million women of reproductive age in emerging nations willing to avoid pregnancy were least aware of modern novel contraception processes. However, the active participation of the government in encouraging the health and well-being of women through different awareness campaigns and programs about family planning, precisely in emerging countries, is one of the more prevalent aspects fostering the market.
In addition, the increment in an aim towards the requirement of family planning and safeguarding unintended pregnancy propels the market growth. The growth in the use of contraception in young women and the increase in greater education attainment foster market growth. Furthermore, health problems linked with teenage pregnancies, augment in awareness of modern contraception and increment in usage of oral pills as the foremost method to avoid unplanned pregnancy further propel the contraceptives market growth.
According to SPER market research, ‘Contraceptives Market – By Age group, By Product, By Distribution-Regional Outlook, Competitive Strategies and Segment Forecasts to 2030’ state that the Contraceptives Market is predicted to reach USD 20.27 billion by 2030 with a CAGR of 5.9%.
The implementation of programs targeted at decreasing unwanted pregnancies and connected healthcare costs and growing user awareness levels are predicted to foster the growth of the industry throughout the review duration. in addition, the increasing number of unintended pregnancies is predicted to underwrite the growth of the market throughout the forecast duration.
Governments in different countries have been conducting extensive campaigns and sex education programs to develop awareness among youth and encourage the utilization of contraceptives against STDs and unwanted pregnancies. Government and International healthcare bodies, such as World Health Organization (WHO) and the Centre for Disease Control and Prevention (CDC), are playing a progressive role in growing awareness concerning safe sex by using condoms.
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Furthermore, the increasing geriatric population around European nations coupled with the increasing incidence of lifestyle syndromes will induce infertility eventually decreasing for contraception products. In addition, concerns relating to the side effects of products can negatively impact product requirements during the future. The growth in aim of the requirement for family planning and safeguarding the unwanted pregnancy propels the market growth. Furthermore, the augment in the usage of contraception in young females along with the increase in greater educational attainment fosters market growth.
Oral contraceptives are extremely sought after by young individuals in emerging nations. The number of government-sponsored programs and the free provision of contraceptives across urban and rural locations will motivate growth in the sale and utilization of these pills in the market. In addition to the increasing challenges linked with teenage pregnancies, growing knowledge of modern contraception and the issue of unplanned pregnancies will endure furthering foster the market for oral pills.
North America registered the global industry during recent past years with the maximum revenue share and is predicted to maintain its position during the review period due to the great incidence of abortion, augmenting population of women within the age group of 15-54 years, and great patient awareness levels around the region.
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