Soaring Demand Set to Propel Hormonal Contraceptives Market to $15.46 Billion by 2029

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What Is the Expected CAGR for the Hormonal Contraceptives Market Through 2025?
The market size of hormonal contraceptives has witnessed minor growth in the past few years. It is projected to expand from $14.28 billion in 2024 to $14.4 billion in 2025, registering a compound annual growth rate (CAGR) of 0.9%. The growth during the historic period is due to government initiatives, a rise in the usage of contraceptives, an increase in expenditure on pharmaceutical research and development, a surge in healthcare spending, and the growth in the number of healthcare facilities.

What's the Projected Size of the Global Hormonal Contraceptives Market by 2029?
Anticipated to experience minimal growth in the coming years, the hormonal contraceptives market is projected to expand to a value of "$15.46 billion in 2029" with a compound annual growth rate (CAGR) of 1.8%. The projected growth within this period can be linked to the rise in family planning consciousness, escalated research and development funding, increased spending in the healthcare sector, and an upshot in collaborations among different agencies. The forecast period might see trends such as investment in long-lasting vaginal rings, the incorporation of Artificial Intelligence to augment medication adherence, introduction of innovative products, investment in eco-friendly estrogen profiles, enhancement of progestogen-only birth control pills, and a consistent investment in long-term drug delivery systems.

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Top Growth Drivers in the Hormonal Contraceptives Industry: What's Accelerating the Market?
The rise in understanding about hormonal contraceptives has led to a more knowledgeable and self-reliant population, enabling people to make decisions that reflect their reproductive desires and ways of life. As they become more educated about birth control alternatives, they are equipped to make improved choices about their reproductive wellbeing, which in turn, encourages higher use of hormonal contraceptives that are consistent with their family planning and lifestyle choices. For example, in September 2023, the World Health Organization (WHO), a Switzerland-based specialized United Nations agency that oversees international public health, revealed that in 2022, the projected worldwide prevalence of contraception, including all methods, was 65%, while modern contraceptive practices were reported at 58.7% among women who were married or in a union. The global satisfaction rate for modern family planning methods among women between the ages of 15-49 will be 77.5% in 2022. The increasing awareness about the benefits and application of contraceptives considerably drives the hormonal contraceptives market.

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What Trends Will Shape the Hormonal Contraceptives Market Through 2029 and Beyond?
Corporations are pioneering the production of chewable oral contraceptives with a low dosage to minimize side effects. This initiative for chewable birth control was devised to alleviate adverse effects while ensuring it becomes easier for consumers to adopt a daily routine of using this contraceptive. It's currently being retailed as a non-prescription product. Companies such as Lupin Pharmaceuticals, Walter Chilcott, and Watson Pharmaceuticals are among the leading manufacturers and vendors of these chewable, low-dose oral contraceptives.

What Are the Main Segments in the Hormonal Contraceptives Market?
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 Or Fertility Clinics, E-Commerce, Other Distribution Channels

Subsegments:
1) By Pills: Combined Oral Contraceptives (COCs), Progestin-Only Pills (POPs), Emergency Contraceptive Pills
2) By Injectable Birth Control: Depot Medroxyprogesterone Acetate (DMPA), Combination Injectable Contraceptives, Subdermal Implants
3) By Vaginal Rings: NuvaRing, Annovera, Other Hormonal Vaginal Rings
4) By Others: Transdermal Patches, Intrauterine Devices (IUDs) with Hormones, Hormonal Implants, Contraceptive Tablets For Men

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Which Top Companies are Driving Growth in the Hormonal Contraceptives Market?
Major companies operating in the hormonal contraceptives market include 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

Which Regions Will Dominate the Hormonal Contraceptives Market Through 2029?
North America was the largest region in the hormonal contraceptives market share in 2024. 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

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