The report forecasts the global female contraceptive market to grow at a CAGR of 3.48% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Female contraceptives such as birth control pills are generally consumed to prevent pregnancy. However, their consumption has increased over time for other purposes other than avoiding pregnancy. In 2013, 1.5 million women globally used oral contraceptive pills for non-contraceptive benefits, like relief from menstrual pain, polycystic ovarian disease, reduction of acne, and regulation of the menstrual cycle.
According to the report, innovation and effectiveness of female contraceptives constitute the key to market growth. Several vendors are entering into strategic alliances and investing in R&D for product innovation and better financial stability, thereby developing the latest products with better efficiency, safety, and protection. These strategic decisions help companies generate revenue and acquire a significant share of the market.
Further, the report states that sexual norms, behaviors, and attitudes are undergoing a transformation globally. There has been an increase in the exploration of sexual fantasies because of increased exposure to the internet, TV shows, and erotic fiction like the Fifty Shades of Grey. The current generation is embracing changes in the perception toward experimentation regarding sex. They are also aware of the importance of protection during sex. IUDs and contraceptive pills help in preventing pregnancy for a longer duration of time if taken in the right way. Despite the economic slowdown, there are new as well as niche players entering the market.