Demand for U.S. Contraceptive and Impact of COVID-19……..
The US
contraceptive market is
anticipated to be worth USD 9.6 billion
by the year 2027, advancing at a CAGR
of 4.2% during this period, according to a recent Grand View Research
report.
With Covid-19 infections rising globally, the
apprehension regarding a shortage of essential life-saving devices and other
essential medical supplies in order to prevent the spread of this pandemic and
provide optimum care to the infected also widens. In addition, till a
pharmacological treatment is developed, ventilators act as a vital treatment
preference for the COVID-19 patients, who may require critical care. Moreover,
there is an urgent need for a rapid acceleration in the manufacturing process
for a wide range of test-kits (antibody tests, self-administered, and others).
The report will account for Covid19 as a key market contributor.
The use of birth control methods in
the US is on the upward trajectory, on account of the increasing awareness
regarding sexual and reproductive health among women in the age group of 15-49
years, which covers a major proportion of the reproductive age demographic.
According to the latest Guttmacher report, the US has 61 million women of
reproductive age (15-44 years), of which 70% (around 43 million) are at a risk
of unintended pregnancy. The contraceptive market is heavily oriented towards
this demographic.
According to data from 2015–2017
National Survey of Family Growth, the most common methods of contraception in
use were female sterilization (18.6%), oral contraceptive pill (12.6%),
long-acting reversible contraceptives (LARCs) (10.3%), and male condom (8.7%).
Moreover, the use of LARCs was higher for women aged 20-29 years, as compared
to other age groups.
The 2015–2017 National Survey of
Family Growth data also revealed that education plays an important role in the
usage of contraceptive products, as the usage of female sterilization declined
and that of pills increased with higher education; the use of LARCs, however,
remained constant. Moreover, the use of any contraceptive method was observed
to be higher among older women and non-Hispanic white women compared with
younger women and non-Hispanic black women.
According to ‘Power to Decide’, a nonprofit organization working to prevent
unplanned pregnancies, more than 19 million women in the country lack proper
access in their area or county to a health center that offers the full range of
contraceptive methods. Moreover, 1.6 million of these women live in a county
without a single health center offering the full range of methods. This has
created a huge opportunity for major players to expand their presence in these
regions.
To Request Sample Copy of this report, click the link:
The undertaking of various initiatives
by the government to improve family planning and reproductive health have also
had a positive effect on the market. The state and federal establishments offer
reimbursements for family planning services and supplies for helping women.
Additionally, the Center for Medicaid and CHIP Services (CMCS) has established
a Maternal and Infant Health Initiative for the Medicaid and Children’s Health
Insurance Program (CHIP), to promote the use of effective methods of
contraception.
As of 2020, in the U.S., pills were
the most preferred contraception method, on account of their availability and
ease of use; however, LARCs are expected to show fastest growth over the coming
years, as they are cost efficient and more than 99% effective. The usage of
condoms is also significant among the demographic, with many major market
players present in the country; IUDs also had a significant market share and
are expected to show substantial growth in the coming years.
Further key findings from the study suggest:
·
Prevalence of teenage
pregnancies is highest in U.S. among developed nations. Government initiatives
such as improving sex education and increasing access to contraceptives is
expected to drive adoption of various birth control method among young
population
·
In 2020, the pills segment held
the largest market share owing to the convenience of use and easy availability.
The pills market is highly competitive due to the presence of generic products
·
Intrauterine Devices (IUDs)
held one of the largest market shares in 2020, with increasing demand for
hormonal IUDs
·
Rapid growth of subdermal
implants in the U.S. contraceptive market is anticipated in the coming years.
The market for subdermal implants is highly consolidated with presence of very
few players
·
Nonhormonal birth control
methods such as condoms, sponge, and diaphragms are popular among women in the
age group of 25 to 40 years
·
Some of the key industry contributors
are Merck & Co. Inc.; Bayer AG; Allergan, Afaxys, Inc; Mayer Laboratories,
Inc.; Teva Pharmaceutical Industries Ltd.; Agile Therapeutics; TherapeuticsMD
Inc.; Reckitt Benckiser Plc.; Pfizer, Inc.; Cooper Surgical; Church &
Dwight Co., Inc.; Mithra Pharmaceuticals
According to the Patient Protection
and Affordable Care Act, all contraceptive methods authorized by the Food and
Drug Administration (FDA) must be covered by private insurance. The federal and
state governments also provide reimbursements for family planning services and
supplies to help women. The Center for Medicaid and CHIP Services (CMCS)
established a Maternal and Infant Health Initiative for the Medicaid and
Children’s Health Insurance Program (CHIP) to promote the use of effective methods
of contraception. Such government initiatives to improve family planning and
reproductive health has significantly increased awareness and use of
contraceptive in U.S.
Married and cohabiting women are at
high risk of unwanted pregnancy and prefer non-permanent birth control methods,
such as hormonal contraceptives, i.e., pills, patches, implants, and vaginal
rings. Availability of new and advanced more modern contraceptive methods is
anticipated to increase the adoption of contraceptives.
Recent Developments
In February 2020, Merck announced that
it would be spinning off products from its Women’s Health, Legacy Brands and
Biosimilars businesses. The organization plans to launch a new, independent,
publicly-traded company to handle those products. In terms of the Women’s
Health unit, the new company will lead with its Nexplanon franchise, and its
contraceptive and fertility businesses.
Bayer and Daré Bioscience, a US
biotech company, recently announced their partnership to expand current
contraceptive methods by developing a hormone-free monthly contraceptive. The
device is to be inserted into the vagina, and provides contraception over three
weeks without any action required by the user around the time of intercourse.
In October 2020, Mithra Pharmaceuticals
signed a contract with Mayne Pharma regarding the commercialization of Estelle
in the US. This is a combined oral contraceptive product based on Estetrol and
drospirenone. The commercial launch of the product is expected to be in the
first half of 2021.
Browse Press
Release of this report:
Grand View Research has segmented the U.S.
contraceptive market based on product:
U.S. Contraceptive Product Outlook(Revenue, USD Million,
2016 - 2027)
·
Pills
·
Condoms
o Male Condoms
o Female Condoms
·
Diaphragms
·
Sponge
·
Vaginal Ring
·
Subdermal Implants
·
IUD
o Hormonal IUD
o Nonhormonal IUD
·
Patch
·
Injectable
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Comments
Post a Comment