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Contraceptive Drugs and Devices Market 2027 – Choice to Conceive, Not Concede By Top Key Players:

05-14-2019 02:26 PM CET | Health & Medicine

Press release from: Coherent Market Insights - Pharmaceutical Industry

Contraceptives Drugs And Devices

Contraceptives Drugs And Devices

Demand for advanced contraceptive options such as IUD, injectables, implants and diaphragms is observed to be high globally. This is owing to growing awareness among the populace, availability of reimbursement and growing demand for long term contraceptive methods. Government promotes the use of IUD and implants i.e. long-acting contraceptives for better therapeutic effect and safety. Also, reimbursement schemes are made attractive for consumers to opt for these contraceptive methods.

Companies present in the contraceptives market prefer marketing oral contraceptive pills to churn out considerable and constant revenues compared to one-time revenue generated through long-acting contraceptives. Moreover, there is heavy promotion of oral pills compared to the long acting contraceptives such as IUD, and implant. This has kept the consumers away from the real benefits of long acting contraceptives over the oral pills. This is the reason that oral pills dominate the U.S. contraceptive drugs and devices market.

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Brands such as Femcon-FE, Lo Minastrin Fe, Taytulla, Minastrin 24 Fe, Yaz/Yasmin, Ortho Tri-Cyclen Lo, and Depo-subQ Provera—categorized under contraceptive drugs segment—are due for patent expiry during 2019-2021. Similarly, few contraceptive devices in the IUD and vaginal ring segments, are due for patent expiry during the forecast period, which in turn, is expected to increase the demand for generic brands in the U.S. contraceptive drugs and devices market.

In the U.S., contraceptives are covered under the commercial health insurance policies through Affordable Care Act (ACA). This has significantly helps reduce out-of-pocket expenses on oral contraceptive pills from 21.8% in 2011 to 3.6% in 2014. The U.S. has implemented coverage policy for contraceptives and all essential abortion related services without any co-pays, co-insurance or deductibles. This is a relief for the U.S. population relying on various contraceptive methods and increases adoption of expensive long-acting contraceptives. These factors in turn, are responsible for the U.S. contraceptive drugs and devices market growth.

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Additionally, increasing government subsidies and initiatives by non-profit organizations is contributing towards a sustainable market growth. The U.S. FDA approved Liletta, a hormonal IUD, is also promoted by Women's Health Alliance, an organization engaged in promoting high-quality affordable healthcare for women, making it affordable or even free to women in low-income areas.

Long-acting reversible contraceptives (LARC) are given complete insurance coverage by the U.S. Affordable Care Act. However, oral pills that generate sustainable revenue are of interest to market players. The availability of products and its cost in different sections of the society are affected due to public-private interest disparity.

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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 during the forecast period. As per the United Nation’s 2015 report, 9 out of 10 married or in-union women opt for modern contraceptive methods.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
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