The Hormonal Contraceptives by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hormonal Contraceptives, 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.
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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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
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.
The hormonal contraceptives market report table of contents includes:
1. Executive Summary
2. Hormonal Contraceptives Market Characteristics
3. Hormonal Contraceptives Market Trends And Strategies
4. Hormonal Contraceptives Market analysis
5.Hormonal Contraceptives Market Size And Growth
6.Hormonal Contraceptives Segmentation
7. Hormonal Contraceptives Regional And Country Analysis
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27. Hormonal Contraceptives Competitive Landscape And Company Profiles
28. Hormonal Contraceptives Key Mergers And Acquisitions
29. Hormonal Contraceptives Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Bayer AG
- Merck & Co. Inc.
- Viatris
- AbbVie
- Pfizer
- Teva Pharmaceuticals
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Hormonal Contraceptives Market Forecast 2024-2033: Growth Rate, Drivers, And Trends
