31 May
2022
Contraception is a birth control or fertility control method that uses oral pills, drugs, and devices like diaphragms, sponges, condoms, & vaginal rings to prevent pregnancy. Contraception method depends on an individual's overall health, age, family history, number of sexual partners, and frequency of sexual activity.
The North America is currently holding the highest market share, while the LAMEA region is expected to grow at the fastest pace. The growth of the market is driven by numerous factors such as increase in focus towards the need of family planning, rise in participation of reproductive women in labor force, surge in awareness regarding modern contraceptive products, health issues associated with teenage pregnancies, increase in adoption of contraceptives products, and a significant rise in disposable income of population in emerging economies.
With this drift on board, several key market players are adopting strategies such as new product launch, collaborations, partnerships, and acquisitions in order to stay competitive in the market. Recently, Cooper in acquisition with a private company of medical devices innovated a product which can be used in reduction of risks associated with childbirth. Such developments, in turn, are augmenting the growth of the market even more.
However, the outbreak of the COVID-19 pandemic led to have a negative impact on the growth of the contraceptives market, owing to implementation of global lockdown. The pandemic forced to close the production facilities of the contraceptives industry across the world, especially during the initial period. This in turn, directly impacted the revenue flow of the global contraceptives market. Also, social distancing norms, disruptions in the supply chain, lack of raw materials, and unavailability of labor force created few more challenges for the manufacturers. Nevertheless, the market has already started to recover steadily and is expected to get back on track soon.
Koyel Ghosh
Authors Bio- Koyel Ghosh is a blogger with a strong passion and enjoys writing in miscellaneous domains, as she believes it lets her explore a wide variety of niches. She has an innate interest in creativity and enjoys experimenting with different writing styles. A writer who never stops imagining, she has been serving the corporate industry for the last five years.
Technological Advancements by Key Players in the Field of Transplant Diagnostics – Explore
Role of Advanced Analytics in the Process of Factory and Warehouse Insurance
Why Should Equipment Businesses Invest in IoT-enabled Heat Meters?
Advanced Technologies in Sanitary Ware Revolutionizing Modern Bathrooms
Advanced Manufacturing Techniques That Enhance the Quality of Gluten Free Flour
Prominent Trends in the WiGig Industry That Benefit Telecom Businesses
Cheese Sauce: How Manufacturing Healthy and Vegan Alternatives Boosts the Potential of Brands?