Subdermal Contraceptive Implants Market to Receive Overwhelming Hike in Revenues by 2024

[Pavan Ishi]

Subdermal Contraceptive Implants Market: Introduction

• Subdermal contraceptive implant is a tiny, thin rod about the size of a matchstick. The implant releases hormones slow and stable into the body to prevent pregnancy. Subdermal contraceptive implant helps to prevent pregnancy for one to five years. The protection period depends upon specific progestin and the type of polymer.
• Advantages of subdermal contraceptive implant include long-term contraceptive action without requiring the provider's or user's attention, low dose of highly effective contraception without the use of estrogen, and fertility is readily reversible after the removal of implant.

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Key Drivers and Restraints of Global Subdermal Contraceptive Implants Market

• Rise in awareness about various birth control methods, introduction of several modern contraceptives in the market, and high per capita income are the major factors driving the global subdermal contraceptive implants market. According to the Guttmacher Institute, in 2018, nearly 21 million women needed publicly funded contraceptive services in the U.S. According to the Centers for Disease Control and Prevention, in 2017, around 214 million women of reproductive age in developing countries who want to avoid pregnancy are not using a modern contraceptive method.
• Recently, the UN collaborated with NGOs to provide contraceptive implants in underdeveloped countries at low price. This acts as a major driver of the market. Additionally, increase in the use of long-term contraception methods in developing countries and surge in awareness about contraception are likely to propel the global market.

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Etonogestrel Implant to Witness Significant Demand

• Based on type, the global subdermal contraceptive implants market can be segmented into etonogestrel implant, levonorgestrel implant, and others
• The etonogestrel implant segment accounted for the largest share of the global subdermal contraceptive implants market in 2018. The segment is projected to dominate the global subdermal contraceptive implants market during the forecast period, as the implant is safe during breast feeding and improves symptoms of dysmenorrhea and endometriosis.

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Hospitals Segment to Witness Significant Growth

• In terms of end-user, the global subdermal contraceptive implants market can be divided into hospitals, clinics, and others
• The hospitals segment accounted for the largest market share in terms of revenue in 2018 and is anticipated to grow at a rapid pace during the forecast period. This can be attributed to increase in number of subdermal contraceptive implant procedures performed in hospitals.

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North America to Dominate Global Subdermal Contraceptive Implants Market

• In terms of region, the global subdermal contraceptive implants market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America dominated the global subdermal contraceptive implants market in 2018 and the trend is expected to continue during the forecast period. The region’s dominance can be attributed to increase in number of abortions, high number of unwanted pregnancies, presence of key market players in the region, greater affordability, and rise in demand for technologically advanced products. According to the Guttmacher Institute, in 2017, 862,000 abortions were carried out in U.S.
• The market in Asia Pacific is likely to experience strong growth during the forecast period, owing to increase in adoption of new products, rise in awareness about contraceptives and STIs, and surge in disposable income in emerging countries such as India, China, and others.

Key Manufacturers Operating in Global Market

The global subdermal contraceptive implants market was highly fragmented in 2018.

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