IMARC Group, a leading market research company, has recently releases report titled “Hormonal Contraceptive Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” The study provides a detailed analysis of the industry, including the global hormonal contraceptive size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the hormonal contraceptive market?
The global hormonal contraceptive market size reached US$ 17.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 22.2 Billion by 2027, exhibiting a growth rate (CAGR) of 4.81% during 2022-2027.
What is hormonal contraceptive?
Hormonal contraceptives refer to the formulations of progestin or a combination of estrogen and progesterone hormones. They work on the endocrine system to prevent ovulation and fertilization. As a result, hormonal contraceptives are utilized to avoid unwanted pregnancies and can be taken before and after vaginal intercourse. These formulations also affect the womb lining, which makes fertilized eggs difficult to be implanted. Such products include birth control pills, vaginal rings, contraceptive skin patches, hormone-releasing contraceptive coils, etc.
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What are the growth prospects and trends in the hormonal contraceptive industry?
The growing awareness among consumers towards family planning is driving the hormonal contraceptive market. Moreover, the rising number of health issues associated with teenage pregnancies is further propelling the market growth. Besides this, various initiatives by government bodies and NGOs to support and enhance access to these products by promoting affordable and high-quality healthcare services are also augmenting the global market. Additionally, numerous advancements in the healthcare industry are leading the production of innovative products, such as hormonal patches, implants, intrauterine devices, etc., which are acting as significant growth-inducing factors. In the coming years, the increasing popularity of these devices owing to their several benefits, such as fewer side effects, high levels of efficiency in preventing pregnancy, ease of access, etc., is anticipated to fuel the global hormonal contraceptive market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Oral Contraceptive Pills
- Intrauterine Device (IUD)
- Injectable Birth Control
- Vaginal Rings
Breakup by Hormone:
- Progestin-only Contraceptive
- Combined Hormonal Contraceptive
Breakup by Age Group:
- 15-24 Years
- 25-34 Years
- 35-44 Years
- Above 44 Years
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Afaxys Inc.
- Agile Therapeutics Inc.
- Allergan Inc. (AbbVie Inc.)
- Bayer AG
- Cipla Limited
- Johnson Johnson
- Merck Co. Inc.
- Pfizer Inc.
- Piramal Group
- Teva Pharmaceutical Industries Ltd.
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