South Korea’s market for contraceptive devices was estimated at USD 0.165 billion in the year 2016 and is expected to reach USD 0.222 billion by the end of 2021. The CAGR during this period of the forecast is expected to be 7.82%.
The emerging nations lack the proper awareness about the potential benefits of contraceptive usage. However, this trend is changing in regions like Africa, Asia-Pacific, and Latin America. The market is set to boom in the Asia-Pacific region over the next few years.
This escalation is developing the need to analyze, review and forecast the growth of the contraceptive devices market. Owing to the rapid evolution of the market in the use of intrauterine devices, medical device companies that are able to launch new innovative equipment will be rewarded with huge benefits.
South Korea Contraceptive Devices Market-Market Dynamics
The report details several factors driving and restraining the market, some of which are listed below.
Drivers
- Need to avoid unwanted pregnancies and their complications
- Increasing incidences of STDs
- Rapid population rise globally
- Potential non-contraception health benefits
- Government initiatives
Restraints
- Religious and cultural oppositions in certain sectors of the society
- Fear of side-effects and infertility
- Lack of awareness
- Limited access in developing economies
The market is segmented by contraceptive devices, which include condoms, diaphragms, cervical caps, sponges, vaginal rings, IUDs, and implants. Contraceptive methods are also studied in detail, which include sterilization, pills, implants, injectables, intrauterine devices, male condoms and vaginal barrier methods.
Key Deliverables in the Study
- Market analysis for South Korea’s contraceptive devices market, with region-specific assessments and competition analysis on the global and regional scale.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market.
- Identification and analysis of the macro and micro factors that affect South Korea’s contraceptive devices market.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights on the major countries/regions in which this industry is growing and to also identify the regions that are still untapped.
