Several private institutions and government organizations are actively participating to spread awareness on the use of contraceptives. This, as per Fortune Business Insights is the chief driver of the global contraceptives devices market. Fortune Business Insights in a new report, titled “Contraceptives Devices: Global Market Analysis, Insights and Forecast, 2018-2025” predicts the market to exhibit a CAGR of 6.0%. The report further calculated the value of the contraceptives devices market as US$ 7013.8 Mn in the year 2018 and expected the market to reach US$ 11166.4 Mn by 2025.
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Contraceptives devices for female are expected to lead the contraceptives devices market during the forecast period. Contraceptive devices for female are available in different types, among which the report emphasizes on the rising uptake of intrauterine contraceptive devices. Some of these include diaphragms & sponges, vaginal rings, sub-dermal implants, and female condoms. Consequently, the sales of female contraceptive devices are accelerating at an exponential rate. As per Fortune Business Insights, the female contraceptive devices segment held nearly 54.8% of the overall market in the year 2017 and is expected to remain dominant over the forecast years.
With the advent of advanced technology, hormonal contraceptives are likely to lead the contraceptive devices market. This is mainly on account of their enhanced efficiency and rising preference among consumers. Governments in several countries are actively participating in the distribution of contraceptive devices across several hospitals. This further makes hospital pharmacies one of the leading source for birth control devices.
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