The size of the Europe Contraceptives Market is predicted to be worth USD 8.7 billion by 2027 from USD 6.35 billion in 2022, growing at a CAGR of 6.50% during the forecast period. The European contraceptives market enjoys high product penetration, especially in subdermal implants and intrauterine devices (IUD).
Male and female condoms, vaginal implants, subdermal implants, sponges, IUDs, and diaphragms are essential devices and accounted for the market's most significant share in terms of revenue. It is attributed to growing awareness about STD (Sexually transmitted disease) and the efficiency of condoms to inhibit infections, including HIV. In addition, in a recent study, subdermal implants have been recognized to have an immense potential to meet women's needs for family planning.
Factors such as increasing active female contraceptive devices and drugs, advancement in technologies, and increasing initiatives from the government and NGOs to promote contraceptives are primarily accelerating the growth rate of the European contraceptives market. The prevalence of sexually transmitted illnesses is on the rise, eventually leveling up the market's demand. Furthermore, the government is taking initiatives to promote knowledge about contraception and family planning which can drive growth in the market. As now a days huge number of women are prioritizing their professions. Therefore, there is in delaying childbearing with the use of contraceptive devices and medications.
Other drivers can be the increase in the demand for contraceptives, and Low-income women (those with incomes less than 200 percent of the federal poverty threshold), women aged from 18–24, have the highest incidence of unintended pregnancies with increasing rates.
However, the market's growth is expected to be hampered by the side effects associated with the use of contraceptive devices and drugs, rising prevalence of infertility. In addition, due to the lack of awareness, particularly among young, poorer, and unmarried people, a limited number of choice methods, limited access to services. Fear of side-effects, poor quality of available services, and gender-based barriers to accessing services can affect the market growth.
Impact of COVID-19 on the European contraceptives market:
The contraceptive market in Europe is significantly impacted by COVID 19. The public contraceptive services were shut down due to COVID 19 restrictions, and therefore many women were not able to access these services. According to United Nations Population Fund (UNFPA), about 114 low and middle-income countries expect about 7 million pregnancies due to inaccessible contraception. This, in turn, is believed to weaken the healthcare system more, and there could be a shortage of skilled workers such as doctors and nurses.
This research report on the European Contraceptives Market has been segmented & sub-segmented into the following categories:
By Drug Type:
By Medical Devices:
By End User:
Geographically, the market for contraceptive devices in the United Kingdom is expected to grow at a CAGR of about 8.01% during the projected period. The primary drivers driving market expansion are the rising regional population knowledge of contraceptive techniques, investments by key companies in developing novel devices, and favorable government measures to enhance product availability.
The German Contraceptive Devices Market is expected to develop at a CAGR of 4.8% during the forecast period.
The contraceptive device market in Spain is anticipated to grow to USD 0.197 billion by the end of 2022, registering a CAGR of 7.86% during the forecast period.
The France contraceptive devices market is expected to grow at an 8.07% CAGR during the projected period. Rising knowledge of contraceptive techniques among the French population, investments by important companies in developing novel devices, and favorable government measures to enhance access to goods are the primary drivers driving growth.
The Italy Contraceptive Devices Market is estimated to grow at a CAGR of 3.9%. Increased awareness of sexually transmitted diseases (STDs) and the rising prevalence of unplanned pregnancies are two reasons propelling the industry forward.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the European contraceptives market profiled in this report are Bayer HealthCare AG, Teva Pharmaceutical Industries Limited, Medisafe Distribution Inc, Pace Pharmaceuticals Inc., Medicines360, Church & Dwight, Co., Inc., Actavis, Inc., CooperSurgical, Inc., Merck & Co., Inc., Reckitt Benckiser plc, Mayer Laboratories, Inc., and Pfizer, Inc.
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