Market Trends of Canada Contraceptive Devices Industry
This section covers the major market trends shaping the Canada Contraceptive Devices Market according to our research experts:
Condoms are Expected to Dominate the Canada Contraceptive Devices Market
A condom is a sheath-shaped barrier device used during sexual intercourse to reduce the probability of pregnancy or an STI. There are both male and female condoms. Women whose partners use male condoms experience a 2% per-year pregnancy rate. Their use greatly decreases the risk of gonorrhea, chlamydia, trichomoniasis, hepatitis B, and HIV/AIDS. They also protect against genital herpes, human papillomavirus (HPV), and syphilis to a lesser extent.
In Canada, the use of condoms has significantly increased among adolescents due to easy availability and convenience. According to the survey conducted and published in NCBI in February 2020, about 30% of the studied adult population claimed to have used a condom whenever they had intercourse. Thus, effective protection from STIs and high demand from the young population to enhance their sexual experience are expected to aid the demand for the product.
Also, increasing product launches are expected to contribute to the growth of the market during the forecast period. In May 2022, Dubbed Jems launched Vegan Condoms for safer intercourse, renouncing toxicity in all forms.
Thus, the above-mentioned factors are expected to drive the growth of the segment during the forecast period.
Vaginal Ring is Expected to Hold a Significant Share Over the Forecast Period
The vaginal ring is a small, flexible ring worn inside the vagina for birth hormones. It releases the hormones estrogen and progestin through the vaginal lining to prevent pregnancy. It is worn for three weeks and then removed for one week.
The increasing rate of unwanted pregnancies, rising awareness among the Canadian population, and increasing product launches by various market players are expected to contribute to the growth of the market.
For instance, the Impactethics article published in June 2021 mentioned that one in five Canadian women had an unintended pregnancy; over 61% of Canadian women have unintended pregnancies. Such a high incidence rate of untended pregnancies among Canadian women is expected to drive the demand for vaginal rings, thereby fueling the growth of the segment.
Increasing product launches are also expected to contribute to the growth of the market. For instance, in February 2022, Mithra and Searchlight Pharma commercially launched Mithra's vaginal contraceptive ring, Myring, under the brand name Haloette in Canada. Haloette is an affordable option for women; it was approved by Health Canada in September 2021.
Thus, the prevalence of unintended pregnancies and frequent product launches are expected to contribute to the growth of the segment.
