The global female condom market is expected to grow at a CAGR of 15.55% during the forecast period 2017–2023 to aggregate $328.1 million by 2023
Factors, such as an increase in the incidence of unwanted pregnancies, the unmet need for contraception in developing countries, growing awareness and initiatives taken by the governments to prevent unwanted pregnancies, and the rise in effective awareness programs, are driving the market growth. Further, the introduction of cost-effective female condoms will spur the sales in the market.
BANGALORE, India – December 04, 2017
Infoholic Research LLP, a global market research and consulting company, has published a study titled “Female Condom Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017–2023” (December 2017).
According to Infoholic Research, the adoption of female condoms is slowly rising and is expected to grow steadily in developed regions. A rise in the awareness and government initiatives for improving health, economy, and focus in lowering the fertility rate has shown a significant impact on the social and economic benefit of many individuals globally. The rise in awareness about various female contraceptive methods and their effectiveness is expected to drive the market. Most of the developing regions including Asia, Africa, Latin America, and the Caribbean have the highest proportion of young women who need to use contraceptive methods, and it is higher in Asia with 69%, Africa with 68%, and Latin America and the Caribbean sharing 36%. There is a large unmet need among adolescent women aged 15 to 19 years in these regions.
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Apart from the substitutes such as IUDs, pills, and transdermal patches, female condoms are expected to see a moderate growth as vendors are focusing on penetrating into both developed and developing regions with good quality. Further, the focus in expanding awareness about contraceptives will drive the popularity of female condom in the market. Developed countries, such as the US, UK, Canada, France, Germany, and Italy and few other developed European nations, are having negligible usage of female condom. This is due to the changing lifestyle and the increase in disposable income among individuals that has gained importance leading to a drastic reduction in fertility rates in most of the developed countries.
Female condom has proved its efficacy in reducing unintended pregnancies and allowing women to plan for a family. Many government organizations have taken initiatives to create awareness and stop problems caused due to unintended pregnancies that lead to serious issues. The UN committee of Economic, Social, and Cultural Rights has made clear about the right to sexual and reproductive health that obligates to have affordable access to contraceptives. The market has significant opportunities to offer contraceptives with the availability of a wide range of contraceptives that are easy to use, affordable, and have 90% compliance among individuals.
Products, such as TROJAN Her Pleasure, XOXO Condom, TROJAN Double ECSTASY, FC2 female condom, CUPID female condom, and PATH – Women Condom, are branded female condoms that have shown best results and are in high demand in the market. According to Infoholic Research, the Global Female Condom market is expected to grow at a CAGR of 15.55% during the forecast period 2017–2023 to touch an aggregate of $328.1 million by 2023.
Regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). In North America, the US and Canada are set to be the leading countries owing to the highest number of female condom users in 2016. Europe is set to be the second leading region and held more than 30% of the market share in 2016. The UK, Germany, and France are among the top three leading countries in Europe in terms of revenue due to advancements in technology and anticipated launch of new products. In Asia Pacific, India and China are the most attractive countries for the players and they hold tremendous business opportunities. ROW is set to be an emerging market in the next 5–6 years.
“Female condom has 95% effectiveness and people who use regularly can have better benefits. Rising awareness in schools, colleges, mass media campaigns, workshops, and access to screening and treatment, which is stigma-free will have significant impact on the sales of female condoms in both developed and developing countries. A major advantage of female condoms is that they have no interruption and can provide enhanced sexual pleasure for both men and women.” - Mohammed Azhar, Senior Research Analyst (Research – Healthcare) at Infoholic Research
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Further, the report aims to cover the below points:
- 1. An in-depth analysis of the key business opportunities in countries and verticals
- 2. Complete details about female condom
- 3. Complete details of trending female condom
- 4. Complete details about the analysis of top players
- 5. Industry outlook including current and future market trends, drivers, restraints, and emerging technologies