Market Trends of Female Contraceptive Industry
Sub-dermal Contraceptive Implants Segment is Expected to Register a Healthy Growth Over the Forecast Period
The sub-dermal contraceptive implants segment is expected to witness significant growth in the female contraceptive market owing to the factors such as rising unwanted pregnancies, high clinical effectiveness, and high adoption rate among the population.
The increasing company focus on adopting various business strategies such as product launches, mergers and acquisitions, and company spin-offs are likely to boost the growth of the market over the forecast period. For instance, in June 2021, Merck spun off Organon to make it an independent Women's Health company. The company will operate in women's healthcare with a portfolio of contraceptive and fertility brands, dermatology, respiratory, and bone health products. Also, in April 2022, ProMed Pharma initiated a preclinical evaluation of a novel, fully resorbable contraceptive implant after getting funds from the Bill & Melinda Gates Foundation.
In addition, in January 2022, Organon reported the public listings for NEXPLANON (etonogestrel extended-release subdermal implant) in Ontario (Ontario Drug Benefit Program), British Columbia (BC PharmaCare), and Nova Scotia (Nova Scotia PharmaCare). Nexplanon is a progestin-only hormonal implant used to prevent pregnancy for up to three years. Similarly, in November 2021, Organon announced the public listings for NEXPLANON (etonogestrel extended-release subdermal implant) in Quebec under the Régie de l'assurance Maladie du Québec (RAMQ).
Thus, the above mentioned factors are likely to increase the sub-dermal implant segment growth over the forecast period.
North America is Expected to Hold a Significant Market Share Over The Forecast Period
North America is expected to hold a significant market share in the female contraceptive market over the forecast period owing to the factors such as the rising cases of unwanted pregnancies, the presence of sophisticated healthcare infrastructure, the high adoption rate of contraceptive drugs and devices, and the rising number of government initiatives.
The government initiatives and subsidies provided to the citizens for contraceptive treatment and devices are expected to boost the market growth during the forecast period. For instance, according to an article published in September 2022 in BMC Health Journal, access to emergency contraception (EC) to prevent unintended pregnancy is subsidized by the government in Canada. The drug, ulipristal acetate (UPA-EC), is more clinically effective and cost-effective than the prior standard levonorgestrel (LNG-EC) funded in Quebec. Such support initiatives are expected to boost the demand for contraceptives, which is further projected to expand market growth.
Several organizations are also engaged in the implementation of strategic initiatives in the country. For instance, as per the Bill & Melinda Gates Foundation data published in 2022, the foundation is aiming to offer USD 280 million per year from 2021 to 2030 for developing new and improved contraceptive technologies, support family planning programs that reflect the preferences of local communities, and enable women and girls to be in control of their contraceptive care.
Also, the rising launches of contraceptives are further expected to boost the market growth, For instance, in April 2021, the United States FDA approved Mayne Pharma's NEXTSTELLIS (3 mg drospirenone and 14.2 mg estetrol tablets) for the prevention of pregnancy.
Thus, the rising government initiatives and launches and approvals by market players are anticipated to boost the adoption of contraceptive drugs and devices among the female population, thereby boosting the market growth.
