03 Nov 2020
Posted in Pharma
Precarious future of Affordable Care Act leaves US contraceptive devices market at risk of contraction
Trump and Biden have sharply contrasting policies on female patient accessibility to reproductive healthcare. Trump has repeatedly expressed his mandate to overturn the Affordable Care Act (ACA), which currently covers female contraception to the list of preventative services without patient co-payment, unless an employer objects on religious or moral grounds. The reduced accessibility of contraceptives by female patients as a result of recent policies enacted by the Trump administration indicates that a second Trump presidency could drive down the demand for contraceptive medical devices, says GlobalData, a leading data and analytics company.
Brian Hicks, Medical Devices Analyst at GlobalData, comments: “According to GlobalData, the US market for FDA-approved reversible contraceptive devices – such as intrauterine devices (IUDs), hormonal implants and diaphragms – is currently valued above $1.1bn and forecast to grow a compound annual growth rate of 1.63% until 2030. This growth is driven largely by the increasing percentage of females using IUDs coupled with the general population increase.
“Further downward demand for contraceptive medical devices would not only affect the livelihoods of millions of women, but also significantly threaten the medical devices industry that manufacture such devices.
“Major players in the IUD market such as Allergan, Bayer and CooperSurgical should consider and prepare for a potential slump in market demand, as a possible second-term presidency of Trump could mean even fewer women accessing contraceptives over the next four years.”