U.S. Long-acting Contraception Market Expected To Witness A Sustainable Growth Over 2028

U.S. Long-acting Contraception Industry Overview

The U.S. long-acting contraception market size is expected to reach USD 2.5 billion by 2028, based on a new report by Grand View Research, Inc. It 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.

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

 

U.S. Long-acting Contraception Market Segmentation

Grand View Research has segmented the U.S. long-acting contraception market on the basis of product:

Based on the Product Insights, the market is segmented into Intrauterine Devices (IUD), Subdermal Implants, and Injectable

• The IUD segment accounted for the largest market share of over 60.1% in 2020. High effectiveness in the prevention of pregnancy and improving access owing to the U.S. Affordable Care Act are primary factors responsible for the prominent share of the segment. The IUD segment is further bifurcated into hormonal and nonhormonal IUD products. The hormonal IUD segment accounted for the maximum share owing to improving awareness among women about reproductive health. In addition, recent advancements in available brands, such as Liletta, are expected to boost its adoption.
• The subdermal implants segment is projected to witness the second-fastest CAGR during the forecast period. This growth is credited to the product’s cost efficiency, more than 99.0% effectiveness, and quick return of natural fertility after removal. A Contraceptive CHOICE study published in November 2017 reported higher acceptance of implants among the adolescent population. Thus, the high adoption of subdermal implants among teenagers is also likely to boost segment growth.

 

Key Companies Profile & Market Share Insights

The market is consolidated with the presence of a few major players. Most of the companies are undertaking strategic initiatives, such as investments in R&D and the development of innovative products, to strengthen their market presence.

Some of the prominent companies operating in the U.S. long-acting contraception market include:

• Merck & Co., Inc.
• Pfizer Inc.
• The Cooper Companies Inc.
• Allergan (AbbVie Inc.)
• Bayer AG

 

Order a free sample PDF of the U.S. Long-acting Contraception Market Intelligence Study, published by Grand View Research.