Hormonal Contraceptive Market to Surpass 24.2 Billion by 2030 Drives Due to Changing Demographics
SkyQuest projects that the hormonal contraceptive market will attain a USD 24.2 billion value by 2030, with a CAGR of 4.31% over the forecast period (2023-2030). Increasing awareness about family planning and women’s health drives the hormonal contraceptive market, especially in developing regions. As more women delay childbirth and seek reliable contraception, the market experiences growth.
Westford, USA, Oct. 18, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, ongoing research and innovation in hormonal contraceptive methods, such as patches, implants, and injections, propel market expansion. Enhanced effectiveness, convenience, and reduced side effects attract users, fostering hormonal contraceptive market demand.
Browse In-Depth TOC on the “Hormonal Contraceptive Market”
- Pages – 157
- Tables – 62
- Figures – 78
Growing healthcare investments globally facilitate better access to hormonal contraceptives. Improved distribution networks, healthcare infrastructure, and insurance coverage contribute to hormonal contraceptive market growth, ensuring wider availability and affordability for consumers.
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Prominent Players in the Hormonal Contraceptive Market
- Pfizer Inc.
- Bayer AG
- Merck & Co., Inc.
- Allergan plc
- Teva Pharmaceutical Industries Ltd.
- Mylan N.V.
- Novartis International AG
- Lupin Pharmaceuticals, Inc.
- HLL Lifecare Limited
- Mithra Pharmaceuticals
- Ferring Pharmaceuticals
- Afaxys, Inc.
- Agile Therapeutics
- Apothecus Pharmaceutical Corp.
- Piramal Enterprises Ltd.
- TherapeuticsMD, Inc.
- CooperSurgical, Inc.
- Watson Pharmaceuticals, Inc.
- Glenmark Pharmaceuticals Ltd.
- Janssen Pharmaceutical NV
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Injectable Birth Control Segment is Expected to Grow the Market Due to Convenience and Prolonged Efficacy
Injectable birth control segment is experiencing remarkable growth in the hormonal contraceptive market due to its convenience and prolonged efficacy. The method’s simple administration, requiring infrequent doses compared to daily alternatives, appeals to modern lifestyles. Additionally, its discrete nature and reduced potential for user error contribute to its increasing popularity among women seeking effective and hassle-free contraceptive solutions.
Asia Pacific is the fastest-growing segment in the hormonal contraceptive market. This growth can be attributed to increasing awareness of family planning and women’s health and expanding healthcare infrastructure. As societies evolve and prioritize reproductive choices, the demand for reliable contraceptive solutions rises, driving the market’s rapid expansion in this dynamic and diverse region.
Oral Contraceptive Pills Segment is Expected to Dominate the Market Due to Recognition and Accessibility
The dominance of the oral contraceptive pills segment in the hormonal contraceptive market is primarily due to its recognition and accessibility. These pills offer a time-tested method for contraception, fostering trust among users. Their familiarity, ease of use, and established effectiveness contribute to sustained demand, making them a preferred choice for women seeking reliable and reversible birth control options.
North America emerged as the dominant region in the hormonal contraceptive market. This position is underpinned by high healthcare expenditure, advanced medical infrastructure, and widespread awareness of contraception. A large consumer base and robust research and development solidify North America’s leading role in the market’s growth and innovation.
A comprehensive analysis of the major players in the hormonal contraceptive market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in the Hormonal Contraceptive Market
- In 2022, NEXTSTELLIS, an innovative oral contraceptive combining estetrol (E4) and drospirenone, was introduced in Australia by Mayne Pharma Group Limited and Mithra Pharmaceuticals, SA. Estetrol, a fetal liver-derived natural estrogen, offers a distinct hormonal profile compared to other estrogens, potentially reducing stimulation of estrogen-sensitive tissues and making it a promising option for contraception.
- In 2022, Indonesia’s National Population and Family Planning Agency unveiled Progestin, a breastfeeding-friendly contraceptive pill. This move aims to support exclusive breastfeeding, crucial for averting infant stunting and fostering optimal growth and development, aligning with the nation’s health and family planning objectives.
Key Questions Answered in Hormonal Contraceptive Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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