DUBLIN–(BUSINESS WIRE)–The «U.S. Long-acting Contraception Market Size, Share & Trends Analysis Report by Product (Intrauterine Devices, Subdermal Implants, Injectables), and Segment Forecasts, 2021-2028» report has been added to ResearchAndMarkets.com’s offering.
The U.S. long-acting contraception market size is expected to reach USD 2.5 billion by 2028 and is expected to expand at a CAGR of 4.69% from 2021 to 2028.
The market is expected to grow due to increased product access and awareness regarding the advantages of long-acting contraception, such as convenience and effectiveness.
The U.S. government has started various programs to raise awareness about reproductive & sexual health, especially among teenagers & young women, and provides grants to prevent unplanned pregnancies. For example, the Office of Population Affairs Teen Pregnancy Prevention (TPP) Program provides funding to diverse organizations working to prevent teen pregnancies across the U.S. Such proactive steps are expected to increase the adoption of LARCs among women, thus, favoring the market growth.
LARCs are highly effective compared to short-term contraceptive methods. They are suitable for teenagers as they are less likely to maintain regular dosage or implement other short-term contraceptives. Hence, the government is implementing various programs for the free distribution of Intrauterine Devices (IUDs) among adolescents.
Furthermore, according to the Kaiser Family Foundation, in 2015-2017, the use of subdermal implants was highest among teens (aged 15 to 19 years), with 16% of them using implants. This, coupled with increasing funding by the government on family planning is anticipated to drive the market.
The COVID-19 pandemic has had a negative impact on the contraceptives market, and its magnitude on the LARC has been even more. Unlike other contraceptives, such as condoms and oral pills, the use of LARC requires visiting a medical facility for the insertion of an IUD or implant.
Hence, with the postponement of elective procedures and people avoiding hospital visits, the sales of long-acting contraceptives declined. For instance, the new placement of PARAGRAD dropped by about 65% in April and 40% in May in 2020 compared to the same period in 2019.
U.S. Long-acting Contraception Market Report Highlights
- The United States has the highest rate of adolescent pregnancies. Government programs, such as improving sex education and increasing contraception availability, are projected to increase the use of various birth control techniques including LARC in the country
- In 2020, the IUD segment held the maximum market share owing to the easy availability and convenience of use. The segment is expected to grow at the highest CAGR from 2021 to 2028 owing to the increasing demand for hormonal IUDs
- Key companies in this market are focusing more on distribution agreements, supply contracts, and product development to gain a competitive edge over others. Furthermore, many companies, such as Allergan, are partnering with organizations for free distribution of their products to strengthen their market position
- Increasing research by potential new entrants, such as Cipla, Inc. and Sebela Pharmaceuticals, Inc., is anticipated to change the competitive landscape of the market in the coming years
- For example, in January 2019, Cipla Inc. received ANDA approval for the generic version of Medroxyprogesterone Injectable, 150mg/mL from the U.S. FDA
Market Dynamics
Market Driver Analysis
- Increasing Adoption Of Long-Acting Contraceptives
- Strong Government Support
- Rising Publicly Funded Family Planning Services
Market Restraint Analysis
- Less Approved Products
- Adverse Side Effects Associated With Use Of Larc
Business Environment Analysis Tools
- Pestle Analysis
- Porter’s Five Forces Analysis
Penetration & Growth Prospect Mapping
Regulatory Framework and Reimbursement Analysis
- Regulatory Scenario
- Reimbursement Framework
Impact of COVID-19: Qualitative Analysis
Demographic Analysis: Methods of Contraception, 2019
Companies Mentioned
- Merck & Co. Inc.
- Pfizer Inc.
- The Cooper Companies Inc.
- Allergan (Abbvie Inc.)
- Bayer AG
For more information about this report visit https://www.researchandmarkets.com/r/g1kbre
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