Subdermal Contraceptive Implants Market Forecast Report
by Susan Hill Business ConsultantThe global subdermal contraceptive implants market size is
expected to reach USD 969.2 million by 2026, according to a new report by Grand
View Research, Inc., registering a 3.2% CAGR over the forecast period.
Introduction of several modern contraceptives in the market, growing awareness
about various birth control methods, and high per capita income are some of the
key factors driving the market for subdermal implants for birth control.
According to the Guttmacher Institute, in 2014,
approximately 20 million women needed publicly funded contraceptive services.
According to CDC, in 2017, nearly 46.9 million women in the U.S. were using at
least one method of contraception. Subdermal implant is a long-term birth
control option for women. Subdermal implants for contraception are in the form
of polymer capsules or rods placed under the skin. The progestational hormone
is released at a slow and stable rate, providing effective contraception for
1-5 years.
Publicly funded family planning services help women
avoid or plan pregnancies. In 2012, the South Carolina Department of Health and
Human Services (SCDHHS) revised the cost associated with Medicaid payment
policy for immediate postpartum insertion of Long-Acting Reversible
Contraception (LARC). Under this new reimbursement policy, providers are
allowed to bill for the insertion procedure and the cost of an IUD or an
implant, in addition to the Diagnosis Related Group (DRG) by using J-codes with
a family planning modifier.
Implants are the most widely used contraceptive
methods by women in sub-Saharan Africa owing to public-private partnerships
between manufacturers, donors, governments, and international agencies, which
helps lower commodity cost and increase product availability. Contraceptive
usage has increased in South Africa, Malawi, and Rwanda. According to PLOS.org,
in Malawi, the use of the Long-acting Reversible Contraception (LARC) method
reached 10.21% in urban areas in 2016 and 9.66% in rural areas. In 2012, an
initiative called Family Planning 2020 (FP2020) was launched to give 120
million women access to modern contraceptive methods by 2020.
Further
key findings from the report suggest:
- North America held the maximum share in the market for subdermal
implants for contraception in 2018. This can be attributed to growing
number of unwanted pregnancies, increased government initiatives in favor
of contraception, and rising unmet needs
- Strong economic growth in countries such as China, India, and
Singapore, increasing awareness about contraceptives and STIs, and rising
disposable income are expected to boost the Asia Pacific market in the
coming years
- Rapid population growth is a major concern in sub-Saharan African
countries; the region’s population growth is projected to account for more
than half of the global population growth by 2050. This could have a
positive impact on the uptake of subdermal implants for birth control
- Some of the key subdermal contraceptive implants market players are
Shanghai Dahua Pharmaceutical Co., Ltd.; Merck & Co., Inc.; and Bayer
AG. In February 2018, Shanghai Dahua Pharmaceutical Co., Ltd. and DKT
International entered into an agreement to market Levoplant at a reduced
price of USD 6.90 per unit in 69 countries.
Access
full research report on global subdermal contraceptive implants market:
www.grandviewresearch.com/industry-analysis/subdermal-contraceptive-implants-market
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Created on Mar 17th 2020 05:38. Viewed 247 times.