New York, Nov. 30, 2023 (GLOBE NEWSWIRE) -- The global subdermal contraceptive implants market size is slated to expand at ~9% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 3 billion by the end of 2036, up from a revenue of ~USD 1.06 billion in the year 2023. The increasing prevalence of sexually transmitted diseases (STDs) has become a major concern for public health. According to the World Health[R1] Organization, over 1 million sexually transmitted infections are acquired every day worldwide. The rise in STDs has led to an increased demand for effective contraceptive methods, such as subdermal contraceptive implants.
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Subdermal contraceptive implants are highly effective at preventing unintended pregnancies, which is particularly important for individuals at risk of contracting STDs. STDs can lead to serious health complications, such as infertility, making effective contraception crucial for individuals who have contracted STD. Subdermal contraceptive implants are discreet and long-lasting, providing a convenient option for individuals who may not have consistent access to healthcare services.
Subdermal Contraceptive Implants Market: Key Takeaways
- Market in North America to propel highest growth
- Etonogestrel implant segment to garner the highest growth
- Market in Asia Pacific to grow at a significant rate
Advancements in Implant Technology to Boost Market Growth
The subdermal contraceptive implants market has seen significant growth in recent years, and one of the key drivers of this growth has been advancements in implant technology. One of the most significant advancements in implant technology has been the development of implants that are more effective at preventing pregnancy. Newer implants have a higher success rate than older models, with some studies showing effectiveness rates of over 99[R2] %. This increased effectiveness has made subdermal implants an attractive option for women who want reliable long-term contraception. Advancements in implant technology have also made the devices easier to use. Newer models are smaller and easier to insert, which has reduced the discomfort and pain associated with the procedure. In addition, some newer models have a longer lifespan, which means that women do not have to go through the insertion process as frequently.
Subdermal Contraceptive Implants Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Availability Of More Innovative Products In The US, Such As Subdermal Implants to Drive the Growth in the North America Region
The subdermal contraceptive implants market in North America region is estimated to garner the largest revenue share of 55% by the end of 2036. This is likely due to the availability of more innovative products in the US, such as subdermal implants, which are becoming increasingly popular among female contraceptive users. Additionally, the US has a higher concentration of contraceptive users, which also contributes to its larger market share. Over 66% of women, in the United States indicated that they had utilized some form of contraception within the last year (2022). Moreover, Canada has recently approved the usage of Nexplanon providing patients, in the country with a needed and well-deserved expansion of contraceptive choices. This move is expected to increase Canada's contraceptive market share, as Nexplanon[R3] is highly effective and long-acting. This will give Canadian women more options for contraception, which will in turn increase the US' market share.
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Growing Awareness About Contraception to Drive the Growth in the Asia Pacific Region
The Asia Pacific subdermal contraceptive implants market is estimated to garner the largest revenue by the end of 2036. This is driven by the increasing number of working women, rising disposable incomes, and growing awareness about contraception. Additionally, the market is also driven by the growing government initiatives to promote family planning and the increasing investments in research and development of contraceptives. For instance, China has a one-child policy that was in place from 1979 to 2015. The policy was relaxed in 2015[R4] to allow couples to have two children if they meet certain criteria. The government provides free contraception services and has made efforts to increase awareness about the importance of family planning. Moreover, The Indian government provides free contraception services and has implemented policies such as the National Family[R5] Health Survey to increase awareness about family planning.
Subdermal Contraceptive Implants Segmentation by Product
- Etonogestrel Implant
- Levonorgestrel Implant
The etonogestrel implant segment is expected to generate the largest revenue by the end of 2036. The etonogestrel implant is highly effective in preventing unintended pregnancies and has a much lower failure rate of less than 1% than other birth control methods, such as female sterilization. Furthermore, the etonogestrel implant is convenient, as it is inserted under the skin and does not require daily or monthly maintenance. Additionally, the U[R6] .S. Food and Drug Administration has approved the etonogestrel subdermal implant as a highly effective contraceptive option for women for up to three years.
Subdermal Contraceptive Implants Segmentation by Application
- Hospital
- Gynecology Clinics
- Research Facilities
- Women Healthcare Centers
The hospital segment is anticipated to hold the largest revenue by the end of 2036. This is because hospital surgery offers a more comprehensive range of services compared to other types of clinics, such as the ability to access more advanced medical technology and the expertise of specialized doctors. Additionally, hospitals are more likely to be able to deal with more complex cases that require more complex procedures. Moreover, hospitals are also more likely to have access to larger patient pools, as they tend to be located in larger cities or metropolitan areas where more people have access to their services. The number of hospitals in the US was estimated to be 6,120 in 2021. Additionally, hospitals are more likely to have the resources to invest in the latest technology, which can help them to provide better services at a lower cost.
Subdermal Contraceptive Implants Segmentation by Type
- Biodegradable
- Non-Biodegradable
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A few of the well-known indsutry leaders in subdermal contraceptive implants market that are profiled by Research Nester are Merck & Co., Inc., Shanghai Dahua Pharmaceutical Co., Ltd, Bayer AG, Wyeth Pharmaceuticals, Baxter, Gerresheimer AG, Theramex, Contraline, Inc., Pfizer, Inc., Novartis AG, Schott AG, Eli Lilly and Company, Sandoz International GmbH, Teva Pharmaceutical Industries Ltd., and other key market players.
Recent Development in the Subdermal Contraceptive Implants Market
- Contraline, Inc. announced to invest over USD 7 million in developing the first injectable hydrogel-based implanted male contraceptive. It has created a long-acting, reversible male contraceptive that provides more options for family planning and changes how people think about contraception for women.
- Teva Pharmaceutical Industries Ltd. has introduced a generic version of NuvaRing that combines estrogen and progestin for the purpose of preventing conception in women of reproductive age. Moreover, the product must be worn for three weeks in order to be considered part of Teva's generic product line.
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