03-06-2025 08:35 PM CET |
Press release from: The Business Research Company
How Are the key drivers contributing to the expansion of the hormonal contraceptives market?
The rising knowledge about hormonal contraceptives has led to a better-educated and empowered populace, enabling individuals to make decisions in line with their reproductive aspirations and lifestyles. As people gain more understanding of contraceptive methods, they're equipped to make wiser choices about their reproductive wellbeing, resulting in higher usage of hormonal contraceptives that align with their family planning and lifestyle choices. For example, in September 2023, the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations for international public health, reported that the estimated global prevalence of contraception, including any method, constituted 65% in 2022, while the prevalence of modern contraceptive methods stood at 58.7% among wedded women in a union. The global rate of satisfaction for the use of modern family planning methods among women aged 15-49 is predicted to be at 77.5% in 2022. The heightened consciousness about the benefits and application of contraceptives has notably driven the growth of the hormonal contraceptives market.
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What growth opportunities are expected to drive the hormonal contraceptives market's CAGR through 2034?
Recently, there has been a slight increase in the market size for hormonal contraceptives. It is projected to expand from $14.16 billion in 2024 to $14.43 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 1.9%. The factors that contributed to growth during the historic period include government initiatives, a rise in the use of contraceptives, an escalation in pharmaceutical research and development spending, increased healthcare expenditure, and the growth in the number of healthcare facilities.
The market for hormonal contraceptives is predicted to experience modest growth in the coming years, with its value poised to reach $15.53 billion by 2029, reflecting a compound annual growth rate (CAGR) of 1.9%. The expansion during this forecast period can be credited to higher awareness about family planning, increased spending on research and development, ascension in healthcare costs, and a rise in partnership engagements among institutions. Future trends in this duration comprise of investments in more durable vaginal rings, engagement in AI technology to enhance drug compliance, introduction of groundbreaking products, funding in eco-friendly estrogen profiles, development into superior progestogen-only contraception pills, and sustained investment into long-term drug delivery systems.
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How are the latest trends influencing the growth of the hormonal contraceptives market?
Firms are exploring innovative methods to produce chewable, low-dose oral contraceptives to minimize side effects. This initiative for chewable contraceptives is intended to not only lessen side effects but also facilitate patients in incorporating this contraceptive into their everyday routine. This pill is currently available as an over-the-counter product. Several leading companies, such as Lupin Pharmaceuticals, Walter Chilcott, and Watson Pharmaceuticals, are known to manufacture and market these chewable low-dose oral contraceptives.
Which growth-oriented segments of the hormonal contraceptives market are leading the industry's development?
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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What regions are leading the charge in the hormonal contraceptives market?
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
What companies are at the forefront of innovation 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
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What Is Covered In The Hormonal Contraceptives Global Market Report?
• Market Size Forecast: Examine the hormonal contraceptives market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the hormonal contraceptives market for a structured understanding.
• Key Players Overview: Analyze major players in the hormonal contraceptives market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hormonal contraceptives market.
• Segment Contributions: Evaluate how different segments drive overall growth in the hormonal contraceptives market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hormonal contraceptives market.
• Industry Challenges: Identify potential risks and obstacles affecting the hormonal contraceptives market.
• Competitive Landscape: Review strategic developments in the hormonal contraceptives market, including expansions, agreements, and new product launches.
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