Press release
Hormonal Contraceptives Market: Increasing Awareness and Government Initiatives Propelling Growth
Hormonal Contraceptives Market
Projected to Hit $14.43 Billion in 2025 With A Compound Annual Growth Rate of 1.9%
What Is The Projected Market Size Of The Global Hormonal Contraceptives Market And Its Growth Rate?
• The hormonal contraceptives market size has grown marginally in recent years.
• It will grow from $14.16 billion in 2024 to $14.43 billion in 2025 at a CAGR of 1.9%.
• The growth in the historic period can be attributed to government initiatives, increase in the 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 marginal growth in the next few years.
• It will grow to $15.53 billion in 2029 at a CAGR of 1.9%.
• 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.
What Is Driving The Growth In The Hormonal Contraceptives Market?
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, according to the World Health Organization (WHO), in 2022, the estimated 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. The 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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Who Are the Key Players Driving Hormonal Contraceptives Market Growth?
• 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
• Famy care
• Mylan Laboratories
What Are The Key Trends In The Hormonal Contraceptives Market?
• 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.
What Are The Segments Of The Global Hormonal Contraceptives Market?
• By Product: Pills, Injectable Birth Control, Vaginal Rings, Others.
• By End User: Hospitals, Homecare Settings, Gynecology Centers, Clinics, Ambulatory Surgical Centers
• By Hormones: Progestin-Only, Combined Hormones
• By Distribution Channel: Drug Stores, Gynecology Or Fertility Clinics, E-Commerce, Other Distribution Channels
Which Region Leads The Hormonal Contraceptives Market?
North America was the largest region in the hormonal contraceptives market share in 2024. The Middle East is expected to be the fastest-growing region in the 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.
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What Is Covered In The Hormonal Contraceptives Market Global Market Report?
-Market Size Analysis: Analyze the Hormonal Contraceptives Market size by key regions, countries, product types, and applications.
-Market Segmentation Analysis: Identify various subsegments within the Hormonal Contraceptives Market for effective categorization.
-Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
-Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
-Market Contribution: Evaluate contributions of different segments to the overall Hormonal Contraceptives Market growth.
-Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
-Industry Challenges: Analyze challenges and risks affecting the Hormonal Contraceptives Market.
-Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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