U.S. Contraceptive Market Growth & Trends
The U.S. contraceptive market size is expected to reach USD 12.0 billion by 2030 registering a CAGR of 4.70%, according to a new report by Grand View Research, Inc. Improving access and awareness regarding Long-Acting Reversible Contraceptives (LARCs) and the effectiveness and convenience of using these products are expected to drive the growth of the industry. The Guttmacher Institute reported that 60% of women belonging to the reproductive age use contraception in the U.S. Use of hormonal contraceptives other than the birth control pill has significantly increased in married women.
The increasing availability of contraceptives in the U.S. has improved several aspects of society such as education, career opportunities, and poverty for women. Access to modern methods of contraception has significantly improved career opportunities and allowed women to earn wages at par with men. Moreover, it has also reduced the number of women living in poverty due to unintended pregnancies and the high costs associated with raising a child. The legalization of family planning in the majority of the states has reduced the economic burden for the next generation as there has been a substantial reduction in the number of citizens living in poverty as adults.
The onset of the COVID-19 pandemic has showcased a negative impact on the market partially offsetting the initiatives by manufacturers. Short-term contraceptives such as birth control pills and condoms require re-prescription filling and frequent purchase, which may increase the risk of exposure to the virus. Thus, usage of these products has been limited during the pandemic. Moreover, the availability and distribution of contraceptives at public healthcare centers have been impacted in the U.S. Unemployment and loss of insurance that covers expenses of contraceptives in the U.S. are also anticipated to limit usage during the COVID-19 pandemic.
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U.S. Contraceptive Market Report
U.S. Contraceptive Market Report Highlights
- The prevalence of teenage pregnancies is highest in the U.S. Government initiatives, such as improving sex education and increasing access to contraceptives, is expected to boost the adoption of various birth control methods in the country
- In 2021, the pills segment held the largest market share owing to the convenience of use and easy availability. The contraceptive pills market in the country is highly competitive due to the presence of generic products
- The rapid growth of subdermal implants in the U.S. contraceptive market is anticipated in the coming years. The subdermal implants market is highly consolidated with the presence of very few players
- The shutdown of manufacturing units in China and Southeast Asian countries during the early stages of the COVID-19 pandemic led to shortages of products such as condoms and implants.
- The operations of market players are affected by generic competition, industry consolidation, competitive combination products, new information from clinical trials of marketed products, and patents granted to competitors’ new products, among others.
- Key companies in this market are focusing more on M&A and product development to gain a competitive edge over others. In February 2020, TherapeuticsMD, Inc. entered into an agreement with Afaxys Pharma, LLC to increase access to ANNOVERA in the U.S. public health sector
