Hormonal contraceptives refer to a method of birth control that stops pregnancy using hormones. There are numerous types. Some can be undone, while others are irreversible. Some varieties can also aid in the prevention of STDs.
Sizing and Forecast
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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Segmentation & Regional Insights
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
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
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Major Driver Impacting Market Growth
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.
Key Industry 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, Church & Dwight Co, Johnson & Johnson, Mayer Laboratories, Famy care, Mylan Laboratories
The hormonal contraceptives market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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