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Hormonal Contraceptives Market: Comprehensive Outlook on Market Size, Demand Trends, Growth Segments, and Key Drivers
Hormonal Contraceptives Market
Hormonal Contraceptives Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $15.57 billion In 2028 At A CAGR Of 2.2% :
The hormonal contraceptives market size has grown steadily in recent years. It will grow from $13.96 billion in 2023 to $14.28 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to government initiatives, increase in use of contraceptives, increase in pharmaceutical r&d expenditure, increased healthcare expenditure and growth in the number of healthcare facilities.
The hormonal contraceptives market size is expected to see steady growth in the next few years. It will grow to $15.57 billion in 2028 at a compound annual growth rate (CAGR) of 2.2%. The growth in the forecast period can be attributed to the increasing awareness on family planning, increasing research and development spending, rise in healthcare expenditure, increasing collaborations between agencies. Major trends in the forecast period include investing in longer lasting vaginal rings, investing in ai solutions to improve medication adherence, launching new innovative products, investing in environmental friendly estrogen profile, investing in improved progestogen only birth control pills, continue to investing in long-term delivery drugs systems.
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Hormonal Contraceptives Market Major Segments
The hormonal contraceptives market covered in this report is segmented -
1) By Product : Pills, Injectable Birth Control, Vaginal Rings, Others
2) By End User : Hospitals, Homecare Settings, Gynecology Centers, Clinics, Ambulatory Surgical Centers
3) By Hormones : Progestin-Only, Combined Hormones
4) By Distribution Channel : Drug Stores, Gynecology/ Fertility Clinics, E-Commerce, Other Distribution Channels
Key Driver - Elevated Awareness Empowers The Hormonal Contraceptives Market
The increased awareness about hormonal contraceptives has contributed to a more informed and empowered population, allowing individuals to make choices that align with their reproductive goals and lifestyles. As individuals become more informed about contraceptive options, they are empowered to make better decisions regarding their reproductive health, which, in turn, leads to increased adoption of hormonal contraceptives that align with their family planning and lifestyle preferences. For instance, in September 2023, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, in 2022, the estimated global prevalence of contraception, including any method, accounted for 65%, while the prevalence of modern contraceptive methods was reported at 58.7% among married women in a union. In addition, the demand for family planning among women has risen from 900 million to nearly 1.1 billion in 2021, and the global satisfaction rate for the use of modern family planning methods among women aged 15-49 will be 77.5% in 2022. Elevated awareness regarding the advantages and utilization of contraceptives significantly propels the hormonal contraceptives market.
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Prominent Trend - Low-Dose Oral Contraceptives Enhances Compliance And Reduces Side Effects
Companies are innovating to manufacture chewable, low-dose oral contraceptives that reduce side effects. The chewable contraceptive initiative was an attempt to reduce side effects while at the same time making it easier for patients to get into a daily regimen of using this contraceptive. The pill is already being sold as an over-the-counter product. Some of the top companies that produce and sell chewable low-dose oral contraceptives, for instance, Lupin Pharmaceuticals, Walter Chilcott, and Watson Pharmaceuticals.
Hormonal Contraceptives Market Players
Major companies operating in the hormonal contraceptives market report are Bayer AG, Merck & Co. Inc, Viatris, Gedeon Richter, AbbVie, Pfizer, Teva Pharmaceuticals, Mayne Pharma Group Limited, Lupin Limited, HLL Lifecare Limited, Amneal Pharmaceuticals, DKT International, Piramal Pharma Limited, Allergan, Afaxys Inc., Agile Therapeutic, Cipla Limited, Glenmark Pharmaceuticals, Novartis AG, Sun Pharmaceutical Industries Ltd., Apothecus Pharmaceutical Corporation, Amgen, Ansell Limited, Johnson & Johnson, Mayer Laboratories, Famy care, Mylan Laboratories
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Largest And Fastest Growing Region In The Market
North America was the largest region in the hormonal contraceptives market share in 2023. Middle East is expected to be the fastest-growing region in the global hormonal contraceptives market analysis during the forecast period. The regions covered in the hormonal contraceptives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Hormonal Contraceptives Market Report Structure
3. Hormonal Contraceptives Market Trends And Strategies
4. Hormonal Contraceptives Market - Macro Economic Scenario
5. Hormonal Contraceptives Market Size And Growth
…..
27. Hormonal Contraceptives Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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