As per the report published by Fior Markets the Global Hormonal Contraceptive Market , is expected to grow from USD 19.31 Billion in 2017 to USD 31.07 Billion by 2025 at a CAGR of 5.80%during the forecast period from 2018-2025. North Americais expected to dominate the market during the forecast period. High income, strong presence of major market players, higher awareness about sexual health and large number of unintended pregnancies are some of the major factors driving the growth of the market in region.
Global Hormonal Contraceptive Market by Method (Combined Oral Contraceptives, Oral Contraceptives Implanted Contraceptives, Injected Contraceptives, Intrauterine, others), Hormones, End-Users, and Region” and Global Forecast 2018-2025.
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Prominent players operating in the market are Teva Pharmaceutical, Amgen, Sun Pharmaceutical, Bayer Healthcare, Piramal Healthcare, Cipla Limited, Pfizer, Inc., Glenmark Pharmaceuticals, Novartis AG, Lupin Pharmaceuticals, Reckitt Benckiser Plc, HLL Lifecare Limited, BoehringerIngelheim GmbH, Watson Pharmaceuticals, Inc., V-Care PharmaPvt. Ltd., Vardhman Life Careand others.Major firms are incorporating various strategies to increase their market reach. For instance,in September 2016, Bayer Inc. launched Kyleena. It is a new Intrauterine System (IUS), to prevent pregnancy. It is expected to help address the need for long-term contraception in women for up to 5 years. In addition, in February 2017, Medicines 360 and Allergan partnered with health centers to address unintended pregnancies in areas impacted by Zika.This helped in increasing access to a hormonal contraceptive Levonorgestrel-releasing Intrauterine System (LILETTA) of the company in the region.It prevents pregnancy for up to 3 years.
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The methodsegment is classified into combined oral, oral contraceptive, implanted, injected, intrauterine, transdermal patch, and vaginal ring contraceptives. Oral contraceptive segment accounted for the largest market share of 38.94% in 2017. Easy mode of administration, wide range of availability and high awareness about pills are driving the growth of the segment.Hormones segment is divided into androgens, estrogens, progestrogens, gonadotropins, antiandrogens and others. Increase in prevalence of PCOS, fewer side effects and effective resultsthan progestin contraceptives makes other hormones preferred choice.End user segment is classified intohospitals, homecare, gynecologycenters, clinics and ambulatory surgical centers.
Increasing women population globally and to prevent unwanted teenage pregnanciesare boosting demand of hormonal contraceptives in forecast period. In addition, risingawareness reading sexual health is also boosting the growth of the market.Lack of awareness about these products in developing regionmay restrict thegrowth of the market. However, innovations in R&D activities, commercialization of new products and increasing adaptation of minimally invasive procedure or combined hormonal contraceptiveare propelling the growth of the market in forecast period.
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