U. S. Contraceptive Market Size, Share & Trends Analysis Report By Product (Pills, Condoms, Diaphragms, Sponge, Vaginal Ring, Subdermal Implants, IUD, Patch, Injectable), And Segment Forecasts, 2020 - 2027.
New York, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "U.S. Contraceptive Market Size, Share & Trends Analysis Report By Product And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05628223/?utm_source=GNW
The U.S. contraceptive market size is expected to reach USD 9.6 billion by 2027, exhibiting a 4.2% CAGR over the forecast period, based on the report. Improving awareness regarding Long-Acting Reversible Contraceptives (LARCs) and effectiveness, availability, and convenience of using these products are the factors expected to drive the growth. The Guttmacher Institute reports that in U.S., 60% of women of reproductive age use contraception. Use of hormonal contraceptives other than the birth control pill has significantly increased among married women.
Key market players are actively investing in the clinical pipeline, resulting in high competition and an increase in the quality of contraceptives. In January 2019, Mithra Pharmaceuticals announced the success of Estelle’s phase 3 study conducted in U.S. and Canada, meeting the primary efficacy endpoint. The efficacy was reported to be similar to a recently FDA-approved Annovera and Lo-Loestrin. In November 2019, Agile Therapeutics, Inc. announced that the U.S. FDA had extended the review date of Twirla’s New Drug Application (NDA), from November 16, 2019 to February 16, 2020.
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 2019, 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 2019, 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
Read the full report: https://www.reportlinker.com/p05628223/?utm_source=GNW
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