Contraceptives Drugs And Devices Market Demands and Growth Prediction 2018 to 2026


Posted November 5, 2018 by satish242

Contraceptive drugs and devices that aid to control birth rate and unintended pregnancies are subject to unique regulatory challenges across different countries.

 
Contraceptive drugs and devices that aid to control birth rate and unintended pregnancies are subject to unique regulatory challenges across different countries. For instance, contraceptive drugs and devices face reimbursement challenges in the U.S., while contraceptive pills face advertising restrictions in India. Owing to this, contraceptives preference greatly various across countries. Statistics revealed by the United Nations in 2015, highlight this trends, with a particular contraceptive accounting for over 50% share across 45 countries considered in the study. Sterilization is a dominant contraceptive method in regions such as Asia, North America, and Latin America as per the study. Intra-uterine devices (IUDs), vaginal rings, injectables, implants, combined oral contraceptives, and patches are some of the more advanced contraceptive methods available in the market. Introduction of new male contraceptive products with high success rate are projected to shape the course of growth of the market in the near future.
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Favorable reimbursement scenario in the U.S. to propel uptake of contraceptives
The affordability and accessibility of products to the U.S. citizens will be affected due to the new policies of President Trump on the Affordable Care Act. However, insurance coverage of health and reproductive products were allowed to be continued without any co-pays, co-insurance or deductibles by the State. Furthermore, this new policy would also cover all medically essential abortion services for the U.S. population. This is a much anticipated relief for the general population in the U.S., as around 45% of all pregnancies reported are unintended (CDC, 2009-2013 study data).
High preference for modern contraceptive methods in developed regions
As per results of a detailed study by the United Nation in 2015, 9 out of 10 married or in-union women opt for modern contraceptive methods. Use of IUD in the U.S. women population has resulted in decrease in the rate of unintended pregnancies from 51% (2006–2010) to 45% (2009–2013) as per the CDC’s National Survey of Family Growth. Furthermore, higher success rate and availability of reimbursement is encouraging women to opt for these methods over contraceptive pills. With increasing consumer awareness and rising accessibility to modern contraceptives methods, demand for these products is expected to increase in emerging economies such as India, China, and Brazil during the forecast period. Gynecologists and sexologists are recommending use of long-acting reversible contraceptives for couples who do not intend to have a child in near future, owing to their low side-effects and high effectiveness as compared to conventional contraceptives such as oral hormonal pills.
Factors impacting the contraceptive drugs and devices market in different regions:
• Implementation of the stringent two-child policy in China since 2016, is a major factor driving demand for contraceptives in the country
• Societal stigma impacting the demand for contraceptives negatively in Asia and Africa
• Government programs encouraging the use of selected contraceptives affecting the market for other products (Indian government provides incentives for sterilization and distributes free condoms, while the U.S. Affordable Care Act emphasizes on complete insurance coverage for long-acting reversible contraceptives (LARC)

The global contraceptive drugs and devices market was valued at US$ 18,273.2 million in 2015 and is expected to expand at a CAGR of 7.8% during the forecast period (2016 – 2024).
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Last Updated November 5, 2018