Hormonal Contraceptives Market
Number of pages: 100 | Report Format: PDF | Published date: September 02, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
USD 18.21 billion |
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Revenue forecast in 2030 |
USD 26.59 billion |
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Growth Rate |
CAGR of 4.3% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
Hormone, Product, Age-Group, Distribution Channel |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global hormonal contraceptives market was pegged at US$ 18.21 billion in 2021 and is expected to witness a CAGR of 4.3% during the forecast period.
Market Fundamentals
Hormonal contraceptives, also known as hormonal birth control methods, act on the endocrine system. Ovulation and fertilization are prevented using female hormones like progesterone and estrogen. Hormonal contraception alters the uterus by either thickening the mucosal lining or by reducing the occurrence of ovulation so that pregnancy is less likely to occur. There are many different types of hormonal contraceptives, including skin patches, pills, injections, implants in the arm, and intrauterine devices. These hormonal contraceptives are proven to be effective and secure. Though hormonal contraceptives are mainly used for the prevention of pregnancy they can also be prescribed for various other disorders like polycystic ovarian disorder, menstrual disorders like dysmenorrhea, menorrhagia, and conditions like hirsutism.
Market Dynamics
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The main trends fueling the rise are increased awareness of contraception methods in emerging nations, investments by large firms in the development of cutting-edge products, and supportive government actions to increase access to goods. The market for hormonal contraceptives is mostly driven by increased awareness of the advantages and use of contraceptives. The expansion of the market is also being fueled by developments in hormonal contraception, such as the introduction of hormonal patches, implants, and other cutting-edge drug-device combination solutions. In addition, the desire to avoid unwanted pregnancies, urbanization, and user awareness are all anticipated to boost market expansion over the projection period.
However, side effects such as cardiovascular diseases, blood clots, ovarian cancer, etc. with excessive usage of hormonal contraceptives and the availability of hormone-free contraceptives such as copper IUDs, condoms, diaphragms, etc. may hamper the market growth.
Market Ecosystem
The global hormonal contraceptives market has been analyzed from five perspectives: - hormone, product, age group, distribution channel, and region.
Hormonal Contraceptives Market by Hormone
The global hormonal contraceptives market on the basis has been subdivided into, progestin-only and combined hormones. The combined hormone segment dominates the market owing to the wide availability of combined hormone contraceptives along with their efficiency to prevent pregnancy. In addition, companies focus on new product launches, and advancing the combination of hormonal contraceptives may bolster segment growth.
Intrauterine devices are anticipated to have a notable growth rate due to the adaptation of long-acting contraception devices coupled with efficiency. Moreover, the increasing research and development investments and product pipelines in hormonal contraception and new product launch are expected to boost the overall market growth.
Hormonal Contraceptives Market by Product
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Based on product, the global hormonal contraceptives market has been divided into hormonal implants, hormonal intrauterine devices, oral contraceptives, and skin patches. The oral contraceptives segment accounted for the largest market share. It is anticipated to continue during the projected period. Because tablets were introduced to the market earlier than long-acting medical devices, there is a high awareness of them today, which contributes to the segment's growth. Additionally, several significant market players are present in the field, and penetration in emerging markets is expected to increase.
Hormonal Contraceptives Market by Age-Group
The age-group, 15-24 years, 25-34 years, 35-44 years, and 45 years & above, have been distributed in the global hormonal contraceptives market. The 15-24 years age-group segment holds the largest market share because of the increased sexual activity participation and increased awareness to avoid unplanned pregnancy. Also, increasing lifestyle disorders causing hormonal imbalance leading to irregular menstruation, polycystic ovarian disorder, etc., require treatment by hormonal contraceptives. Hence, boosting the market growth.
Hormonal Contraceptives Market by Distribution Channel
Based on distribution channel, the hormonal contraceptives market is subdivided into hospitals, retail pharmacy, online pharmacy, and gynecology/fertility clinics. The hospital segments hold the largest market share because of the increased preference for long-lasting contraceptives by females from emerging regions. An increase in the prescribed drug demand also indirectly affects the revenue share of the hospital pharmacy segment.
Hormonal Contraceptives Market by Region
Geographically, global hormonal contraceptives market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The market for hormonal contraceptives is at present led by North America, and this is anticipated to continue throughout the projected period. This can be linked to several factors, including the high per capita income, the prominence of significant market players, increased knowledge of sexual health, and the prevalence of unintended pregnancies.
The region with the fastest growth is predicted to be Asia Pacific. The main variables supporting regional growth include a huge and fertile population, novel female contraceptives, increased market player investment, and strong economic growth.
Competitive Landscape
Some of the prominent players operating in the global hormonal contraceptives market are; -
Strategic Developments
Currently the market size of hormonal contraceptives is around 18.21 billion, which is expected to reach approximately to 26.59 billion in 2030 at a CAGR of 4.3%.
Increasing family planning awareness, increased government initiation and presence of novel contraceptives.
Bayer AG, Mylan, Novartis are few key players in the global hormonal contraceptives market.
The oral contraceptives segment holds the largest share in the market owing to its availability and ease of administration, IUD segment is expected to grow in the forecast period due to its benefits in birth control and in treating menstrual conditions.
Asia Pacific region is expected to witness a high CAGR in the coming years owing to high fertility and birth rates, penetration of key players etc.
*Insights on financial permanence is subject to availability of information in public domain