The growth of Global Hormonal Contraceptives in the forecast period, 2024-2028 is driven by the Increasing awareness about family planning.
According to TechSci Research report, “Hormonal Contraceptives Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, The Global Hormonal Contraceptives Market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the increasing need for preventing unintended pregnancy along with family planning among the population across the globe. Additionally, growing health issues associated with teenage pregnancies, and increasing awareness about modern contraception methods, especially in the developed countries in North America and Europe are expected to create lucrative opportunities for market growth in coming years. Besides, the increasing rising use of oral pills to prevent unplanned pregnancy and rising research and development activities to develop novel contraceptive pills are further expected to support the market growth. Also, growing technological advancement is a key trend for gaining popularity in the hormonal contraceptive market during the forecast period.
However, the easy availability of alternatives of contraceptive methods and health risk associated with the use of contraceptives slow down the growth of the global hormonal contraceptives market in the forecast period. Similarly, increasing side effects of using contraceptive pills may hamper the hormonal contraceptive market growth during the forecast period. Also, a lack of social acceptance with a negative impact on using contraceptive in emerging countries can further restrict the growth of the global hormonal contraceptives market.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on “Global Hormonal Contraceptives Market“.
Based on Hormone, the global hormonal contraceptives market can be divided into Combination Hormonal Contraceptives and Progestin Only. The combination hormonal contraceptives segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to a prominent growth rate along with easy availability of combined hormonal contraceptives with better efficacy to prevent pregnancy. However, the growing demand for lower-risk associated contraceptive pills can further propel the market growth during the forecast period.
Based on method, the market can be segmented Pill, Intrauterine Device, Injectable, Vaginal Ring, Implant, Others. The contraceptive pill segment is expected to dominate during the forecast period on account of the simple and easy administration, of feasibly available products with increasing awareness about using pills in the market. Similarly, the presence of different major players in the field and growing penetration in emerging countries are expected to create significant growth of the global hormonal contraceptive market during the forecast period. Also, longer action span, effectivity, no effect of the device on breastfeeding and normal fertility after removal of the devices are some of the major factors which will boost the growth of the market over the years.
Major companies operating in the global hormonal contraceptives market are:
- Abbvie, Inc.
- Afaxys, Inc.
- Teva Pharmaceuticals Industries Ltd.
- Bayer AG
- Merck & Co. Inc.
- Organon Group of Companies
- Pfizer Inc.
- Johnson & Johnson
- Lupin Pharmaceuticals Inc.
- Pregna International Ltd.
Recent Development
- In May 2021, Pantarhei Bioscience made an announcement about the company got the approval for the new oral contraceptive Estelle from the European Commission and it can be marketed in all the European States.
- In April 2021, Mayne Pharma Group Limited and Mithra Pharmaceuticals announced about the approval by U.S FDA for oral contraceptive named as NEXTSTELLS and it contains estetrol which is produced from a plant source.
- In April 2021, The Medicines and Healthcare Products Regulatory Agency launched a guidelines on COVID-19 Vaccine AstraZeneca unlikely to occur blood clots and it state that all healthcare providers should provide safe and effective contraceptive care which includes the combined pill, transdermal patch and vaginal ring for who is actually at high risk of thrombosis whenever they use CHS.
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“North America is expected to dominate in the global hormonal contraceptives market on account due to the increasing major players in the market and increasing sexual health awareness among population across the region. Furthermore, increasing high proportion of unwanted pregnancies, investment by major key players to manufacture novel contraception devices for females are further contributing to demand for hormonal contraceptives is expected to create a significant growth during the forecast period. Similarly, growing focuses on family planning and growing demand for prevention of unwanted pregnancies and urbanization coupled with user awareness is further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Hormonal Contraceptives Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Method (Pill, Intrauterine Device, Injectable, Vaginal Ring, Implant, Others), By Hormone (Combination Hormonal Contraceptives v/s Progestin Only), By Region and Competition”, has evaluated the future growth potential of global hormonal contraceptives market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global hormonal contraceptives market.
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