(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Global Female Condom Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Female Condom Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
Female Condom Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts: 2017–2023
Overview: Birth control has a broad positive impact and has expanded opportunities for women in terms of economic advancements, educational attainment, and improved health outcomes. Female condom is a contraceptive that helps individuals and couples to gain basic right to decide when and how many children to have. The rising adoption of various methods of contraception has resulted in the improvement not only in health-related outcomes but in several economic and social issues. For instance, it has reduced the infant mortality and maternal mortality rates. According to Centers for Disease Control and Prevention (CDC), the introduction toward access to modern contraceptives is among one of the 10 great public health achievements of the 20th century.
The implementation of modern contraceptive methods offers safe provision by eliminating unwanted restrictive practices and medical barriers. The WHO has developed a set of medical eligibility criteria that is based on a collaborative review of all clinical, research, epidemiological, and modern contraceptive methods.
The major products in the market include:
• TROJAN Her Pleasure
• FC2 female condom
• CUPID female condom
• PATH – Women Condom
The market is dominated by Church & Dwight CO., Inc., The Female Health Company (now Veru Inc), Cupid Ltd., and PATH, which has more than 85% to 95% market share in the Global Female Condom Market. 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 governments to prevent unwanted pregnancies, are expected to boost the market growth.
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Market Analysis: The Global Female Condom Market is estimated to witness a CAGR of 15.55% during the forecast period 2017–2023.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (RoW). The Americas is set to be the leading region for the female condom market growth followed by Europe. Asia Pacific and RoW are set to be the emerging regions. The emerging markets have a high potential to grow owing to the highest proportion of young women who need to use modern contraceptives methods. Further, the government is focusing toward improvising healthcare infrastructure and creating awareness among people for early prevention of unintended pregnancies. The government in most of the developing countries are taking initiatives for creating awareness about contraceptives by conducting programs and collaborating with NGOs to have an effective spread of contraceptives in order to reduce poverty and illiteracy caused due to unplanned births. It is encouraging the use of female condoms by supplying them door to door and imparting knowledge to prevent the spread of STDs and restrict population growth. However, few rural areas, and cultural and religious opposition in certain emerging countries, such as China, India, Thailand, Vietnam, Malaysia, and Philippines, hinder the market growth.
Key Players: Church & Dwight CO., Inc., The Female Health Company (now Veru Inc), Cupid Ltd., and PATH, and other predominant & niche players.
Competitive Analysis: The global female condom market has immense growth opportunities for vendors in both developed and developing regions. The market in the developed countries is seeing an increase in the adoption of female condom, especially in the US, Canada, France, Germany, the UK, and few of the developing countries. These countries have the highest number of frequent user population accounting to 70% to 75% of the total female condom population worldwide.
The vendors have a strong focus on understanding the customer base by creating awareness and initiatives to generate knowledge about their products and upcoming technologically-advanced female condoms. The growing awareness about the products and a rise in the number of distributions that have resulted in an increase in the volume of female condoms among individuals will spur the market growth.
Benefits: The report provides complete details about the usage and adoption rate of female condom for birth control, family planning, and to avoid unwanted pregnancies. Therefore, the key stakeholders can know about the major trends, drivers, investments, vertical player's initiatives, and government initiatives toward contraceptive adoption in the upcoming years. They can also get details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.
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