The global preterm birth control market is expected to reach US$ 1,809.0 Mn in 2025 from US$ 1,190.5 in 2017. The market is estimated to grow with a CAGR of 4.9% from 2018-2025.
The global preterm birth control market is expected to reach US$ 1,809.0 Mn in 2025 from US$ 1,190.5 in 2017. The market is estimated to grow with a CAGR of 4.9% from 2018-2025.
North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period, whereas the market is expected to witness growth at a significant rate in Asia Pacific (APAC) region during the forecast period. The Asia Pacific per-term birth control market is expected to grow with CAGR of 5.1% to US$ 325.6 Mn in 2025 from US$ 222.4 Mn in 2017.
The market for preterm birth control is expected to grow due to rising number of preterm births across the globe as well as increasing number of initiatives undertaken by government and private bodies to promote the use of preterm birth control therapeutics and devices. In addition, growth of pharmaceutical and medical device research and development as well as increasing healthcare expenditure of emerging nations are likely to have a positive impact on the growth of the preterm birth control market in the coming years.
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Key Findings from The Preterm Birth Control Market
- The pre-term birth control market by treatment method is segmented into pharmaceutical treatment and devices. The pharmaceutical treatment segment is poised to grow with a largest market share of 55.6% in 2017. The market for pharmaceutical treatment is anticipated to surge during the forecast period from 2017 to 2025, at a significant rate.
- Collaborations/ acquisitions were observed as the most adopted strategy in global pre-term birth control industry. Few of the product launches and agreements made by the players in the market are listed below;
- 2018: CooperSurgical had acquired the assets of The LifeGlobal Group and its affiliates. The LifeGlobal Group is a leading global provider of in-vitro fertilization devices.
- The major players operating in the preterm birth control market include CooperSurgical, Inc., MEDGYN PRODUCTS, INC., Integra LifeSciences, Panpac Medical Corp., Smiths Medical, Thomas Medical, Kangge Medical, Dr. Arabin GmbH & Co. KG, AMAG Pharmaceuticals, and BEN WAY ENTERPRISES SDN BHD among others.
- The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in February 2018, FDA approved Makena a progestin injection by AMAG Pharmaceuticals for the prevention of preterm birth. Launch of new products and therapeutics by the manufacturers and distributors of preterm birth control system are also expected to accelerate the growth of the market.
Increasing Number of Preterm Births
There has been a gradual increase in the number of preterm births from last few years. As per the World Health Organization (WHO), premature birth is a leading cause of death among the child below 5 years of age. It may be due to early induction of labor or caesarean birth. Multiple pregnancies, infections and chronic conditions such as diabetes and high blood pressure are others common causes of preterm births. As per the Centers for Disease Control and Prevention (CDC), reduction in preterm birth was observed from 2007-2014. In 2015, low birth weight and preterm birth accounted for about 17% of infant deaths. However, the number increased during 2016, with racial and ethnic differences. In the US, 1 of every 10 infants born was a preterm birth.
Initiatives towards Prevention of Preterm Birth
A number of government and non-government organizations are engaged increasing awareness about preterm birth in various countries across the globe. Organizations such as CDC has implemented strategies to reduce preterm births. These strategies includes provision of healthcare services before and between pregnancies; determining population at the risk of preterm delivery and provide immediate treatment, discouraging deliveries before 39 weeks without a medical need; and preventing unintended pregnancies by waiting for at least 18 months between pregnancies.
Stringent Regulatory Framework
Regulatory authorities such as Food & Drug Administration (FDA), European Medicine Agency (EMA) and others has consistently shown a tough stance towards pharmaceutical can biotechnology manufacturers. The market players must comply with the requirement and guidelines of FDA and other regulatory authorities and should constantly keep a check over time to time changes made in these guidelines. The manufacturers of pharmaceutical drugs and medical devices must abide by these regulations pertaining to current good manufacturing practices (cGMP) as well as good laboratory practices (GLP) in order to assure proper design, monitoring, and control of manufacturing processes and facilities. Furthermore, any deviations from the registered protocols, demands and requirements of these guidance leads to termination of the clinical trials undertaken by the pharmaceutical companies.
Additionally, FDA also requires strong safety monitoring and a strict dispensing plan to be followed by the manufacturer. Non-compliance by the manufacturers affects the sales of the products in the market and may lead to the recalls for marketed products due to instances recorded for deficit of the promises in the function and performance of the product or therapeutic may tarnish the company’s reputation risking its future growth. In case of clinical trials for development of therapeutics for preterm birth control, the FDA and other regulatory bodies have strict regulations due to which it is difficult for the manufacturers to pool in pregnant patients generating lack of working models. This in turn results into rejection of trials and can thus act as hindrance to the market growth.
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