There has been a significant amount of debate surrounding birth control and contraceptives over the past few years. The products have been thrust into the spotlight as legislators and activists debate issues such as access, legality, and research into various methods of birth control. Some of the most common methods of birth control include the daily birth control pill, the progestin-only minipill, intra-uterine devices (IUDs), and condoms for both men and women. There is also a form of emergency contraception known as the morning-after pill. This debate has created a significant amount of volatility in this area of the market, which includes the development of other pharmaceutical products.
Recently, a report was published by an organization called Grand View Research. This report estimated the value of the contraceptive market in the United States to be around $7 billion in 2019. This is a large valuation for an area of pharmaceuticals that has been relied upon by countless people all over the world. This report also forecasted this market to grow at a rate of between four and five percent per year over the next few years. While it is difficult to predict exactly what this market is going to do in 2020, it is sure to grow.
One of the reasons why 2020 is going to be a great year in the world of contraceptives is the development and awareness of an area of contraceptives known long-acting reversible contraceptives, also called LARCs. These are forms of contraception that do not have to be taken on a daily basis to be effective. When someone has to take something every day for it to work, they are prone to forgetting. This leads to frustration. Some of the current LARCs include Nexplanon, which is a small rod that can be implanted in the arm. The rod is the size of a thimble and can work for several months before it needs to be replaced. Given that one report indicated that 60 percent of women currently at reproductive age use some form of contraception, this market is sure to grow over the next few years, including in 2020.
There is also a significant number of resources being poured into the clinical pipeline to develop new forms of contraception. As the quality of these products continues to grow, more women are going to be looking at various forms of contraception. Furthermore, there have been significant efforts taken to improve people’s access to key forms of contraception including the birth control pill, LARCs, and more. Therefore, with an expanding customer base, the 2020 outlook for contraceptives looks positive. It will be interesting to see what changes take place in this field in the future.