Subdermal Contraceptive Implants Market Worth $969.2 Million By 2026

The global Subdermal Contraceptive Implants Market size is expected to reach USD 969.2 million by 2026, according to a new report by Grand View Research, Inc., registering a 3.2% CAGR over the forecast period. Introduction of several modern contraceptives in the market, growing awareness about various birth control methods, and high per capita income are some of the key factors driving the market for subdermal implants for birth control.

According to the Guttmacher Institute, in 2014, approximately 20 million women needed publicly funded contraceptive services. According to CDC, in 2017, nearly 46.9 million women in the U.S. were using at least one method of contraception. Subdermal implant is a long-term birth control option for women. Subdermal implants for contraception are in the form of polymer capsules or rods placed under the skin. The progestational hormone is released at a slow and stable rate, providing effective contraception for 1-5 years.

Publicly funded family planning services help women avoid or plan pregnancies. In 2012, the South Carolina Department of Health and Human Services (SCDHHS) revised the cost associated with Medicaid payment policy for immediate postpartum insertion of Long-Acting Reversible Contraception (LARC). Under this new reimbursement policy, providers are allowed to bill for the insertion procedure and the cost of an IUD or an implant, in addition to the Diagnosis Related Group (DRG) by using J-codes with a family planning modifier.

Implants are the most widely used contraceptive methods by women in sub-Saharan Africa owing to public-private partnerships between manufacturers, donors, governments, and international agencies, which helps lower commodity cost and increase product availability. Contraceptive usage has increased in South Africa, Malawi, and Rwanda. According to PLOS.org, in Malawi, the use of the Long-acting Reversible Contraception (LARC) method reached 10.21% in urban areas in 2016 and 9.66% in rural areas. In 2012, an initiative called Family Planning 2020 (FP2020) was launched to give 120 million women access to modern contraceptive methods by 2020.

Request a sample copy or view summary of this report@
https://www.grandviewresearch.com/industry-analysis/subdermal-contraceptive-implants-market

Further key findings from the report suggest:

• North America held the maximum share in the market for subdermal implants for contraception in 2018. This can be attributed to growing number of unwanted pregnancies, increased government initiatives in favor of contraception, and rising unmet needs
• Strong economic growth in countries such as China, India, and Singapore, increasing awareness about contraceptives and STIs, and rising disposable income are expected to boost the Asia Pacific market in the coming years
• Rapid population growth is a major concern in sub-Saharan African countries; the region’s population growth is projected to account for more than half of the global population growth by 2050. This could have a positive impact on the uptake of subdermal implants for birth control
• Some of the key subdermal contraceptive implants market players are Shanghai Dahua Pharmaceutical Co., Ltd.; Merck & Co., Inc.; and Bayer AG. In February 2018, Shanghai Dahua Pharmaceutical Co., Ltd. and DKT International entered into an agreement to market Levoplant at a reduced price of USD 6.90 per unit in 69 countries.