Retail Pharmacy Segment to Dominate APAC Contraceptives Market during 2021–2028

According to a new market research study on “APAC Contraceptives Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, End User, and Distribution Channel” is expected to reach US$ 4,747.05 million by 2028 from US$ 3,424.54 million in 2021. The market is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The report provides trends prevailing in the APAC contraceptives market along with the drivers and restraints pertaining to the market growth. Increasing awareness about sexually transmitted diseases is the major factor driving the growth of the APAC contraceptives market. However, issues associated with the dearth of adoption in low income countries hinder the growth of APAC contraceptives market.

The market for APAC contraceptives market is segmented into product, end user, and distribution channel, and country. Based on product, the market is segmented condoms, intrauterine product (IUDs), vaginal rings, implants, patches, diaphragms, emergency contraceptives, sponges, and others. The condoms segment dominated the market in 2020 and intrauterine product (IUDs) segment is expected to be the fastest growing during the forecast period. Further, the condoms segment has been bifurcated into female condoms and male condoms. Similarly, the intrauterine product (IUDs) is bifurcated into hormonal IUDs and copper IUDs. Based on end user, the market is segmented into home care, and hospitals and clinics. The home care segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on distribution channel, the market is segmented into retail pharmacy, online pharmacy, and hospital pharmacy. The retail pharmacy segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on country, the market has been segmented into China, Japan, India, South Korea, and Australia.

Countries in the Asia Pacific are facing challenges due to increasing incidences of COVID-19. As per the data of Worldometer, as of counts as of March 23, 2020, China reported 90,115 COVID-19 cases, while in Japan, it stood at 456,781, India recorded 11,686,796 cases, and Australia reported 29,007 confirmed cases. In India, which reported a new daily high approx. Of 27000 cases, nearly a dozen states have imposed a partial lockdown in high-risk areas. The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. All these factors will impact the Contraceptive market for a short period of time due to restrictions on IUD and other contraceptives implant procedures as well as limited surgical procedures, decreasing demand for contraceptives devices other than condoms. However, India has listed abortions as essential services under lockdown, but many weren’t aware, reported by the India Safe Abortion Youth Advocates organization. In January 2020, India began amending laws to allow certain women to obtain abortions up to 24 weeks instead of 20 weeks. But the pandemic interrupted it as, travel restrictions, lockdowns, supply chain disruptions, the massive shift of health resources to combat COVID-19, and fear of infection continue to prevent many women and girls from care.

Bayer AG; Church & Dwight, Inc.; CooperSurgical (Cooper Companies, Inc.); Cupid Limited; HLL Lifecare Limited; Merck & Co., Inc.; and Pregna International Limited are among the leading companies in the APAC contraceptives market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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