Hormonal Contraceptives Market Value to Hit USD 25.83 Bn by 2033

Market Overview

The global hormonal contraceptives market size is expected to be worth around USD 25.83 Bn by 2033 from USD 17.28 Bn in 2023, growing at a CAGR of 4.1% during the forecast period from 2023 to 2033.

Market Trends 

The hormonal contraceptives market is seeing significant growth in recent years, driven by increased awareness of the need for effective and affordable contraception. Growing demand for long-acting reversible contraception (LARC) such as implants and intrauterine devices is driving this trend, as they offer greater convenience and effectiveness than other methods. Additionally, increasing access to healthcare services in developing countries has allowed more women to use these products.

In terms of product type, oral contraceptives remain the most popular form of hormonal contraception due to their ease of use and low cost. However, there is a growing shift towards other options such as injectables, implants and intrauterine devices that offer longer-term protection against pregnancy. In addition, manufacturers are launching new innovative products such as transdermal patches that provide better control over dosing regimens.

What is Hormonal Contraception?

Hormonal contraception is a type of birth control that uses hormones to prevent pregnancy. It works by either blocking the release of an egg from the ovary or by making cervical mucus thicker, which makes it harder for sperm to reach the egg and fertilize it. Hormonal contraceptives are available in various forms such as birth control pills, implants, injections, patches and rings. All types of hormonal contraception need to be taken regularly for them to be effective.

Birth control pills are probably the most commonly used form of hormonal contraceptives. These pills contain synthetic versions of two hormones naturally produced in a woman’s body - estrogen and progestin. The amount of these hormones can vary depending on the type of pill being used - some have higher doses while others have lower doses.

Key Takeaways

• The global hormonal contraceptives market is expected to experience significant growth during the forecast period, driven by factors such as increasing awareness about family planning, growing preference for non-invasive contraceptive methods, and increasing government initiatives to promote the use of contraceptives.
• Oral contraceptives are the most widely used type of hormonal contraceptives, but other types such as patches, injections, and vaginal rings are also gaining popularity.

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Regional Snapshot 🌍

• North America and Europe are currently the largest markets for hormonal contraceptives, due to high levels of awareness and favorable government policies.
• The Asia-Pacific region is expected to experience significant growth in the coming years, driven by factors such as increasing female population and rising awareness about family planning.
• Latin America and the Middle East & Africa regions are also expected to experience growth, but at a slower pace due to limited access to contraceptives and cultural barriers.

Drivers

1. Rising global population and increasing demand for family planning services.
2. Growing awareness and education about reproductive health and contraception.
3. Increased availability and accessibility of hormonal contraceptives, particularly in developing countries.
4. Advancements in technology and product development, leading to the introduction of new and more effective hormonal contraceptives.
5. Growing acceptance and use of long-acting reversible contraceptives (LARCs), such as intrauterine devices (IUDs) and hormonal implants.

Restraints

1. Concerns over the safety and side effects of hormonal contraceptives, particularly in the context of long-term use.
2. Stigma and cultural barriers to the use of contraception, particularly in certain regions and communities.
3. Lack of access to healthcare services and limited availability of contraceptives in certain regions, particularly in low-income countries.
4. Competition from non-hormonal contraceptive methods, such as condoms and natural family planning.

Opportunities

1. Increasing demand for contraceptive options that offer non-contraceptive health benefits, such as reducing the risk of certain cancers and menstrual disorders.
2. Expansion into new markets, particularly in developing countries with growing demand for family planning services.
3. Development of new and more effective hormonal contraceptives, such as low-dose options and those with fewer side effects.
4. Integration of digital technology into hormonal contraceptives, such as mobile apps and wearable devices.

Challenges

1. Limited access to education and awareness programs about contraception in certain regions and communities.
2. Difficulty in developing affordable and accessible hormonal contraceptives that meet the needs of diverse populations.
3. Regulatory challenges and approval processes for new and innovative contraceptive products.
4. Public distrust of pharmaceutical companies and skepticism about the safety and efficacy of hormonal contraceptives.

Market Key Players

• Abbvie Inc.
• Afaxys, Inc.
• Bayer AG
• Pfizer, Inc
• Johnson & Johnson
• Janssen Pharmaceuticals Inc.
• Lupin Pharmaceuticals Inc.
• Pregna International Ltd.
• The Female Health Company
• Teva Pharmaceutical Industries Limited
• Mylan N.V.
• Ansell LTD
• Merck & Co. Inc.
• Church & Dwight, Co, Inc.
• Mayer Laboratories
• Novartis ag
• Agile Therapeutics
• Other Key Players

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Recent Developments

• Introduction of New Products: Several companies are developing and launching new hormonal contraceptive products, such as the approval of Annovera, a vaginal ring that can be used for a year, by the FDA in 2018.
• Increasing Use of Long-Acting Contraceptives: There has been a trend towards the use of long-acting contraceptive methods, such as intrauterine devices (IUDs) and hormonal implants, as they provide more effective and long-term protection against pregnancy.
• Focus on Emerging Markets: Major companies in the market are increasingly focusing on emerging markets such as Asia-Pacific and Latin America, where there is a high potential for growth due to increasing awareness and government initiatives.
• Digital Technology: Some companies are exploring the use of digital technology, such as mobile apps, to improve adherence to hormonal contraceptives and provide additional support and information to users.

Market Segmentation

By Product Type

• Emergency Contraceptive Pills
• Oral Contraceptive Pills
• Vaginal Rings
• Injectable Birth Control
• Intrauterine Device (IUD)
• Transdermal Skin Patches
• Others

By Hormones Type

• Combined Hormonal Contraceptive
• Progestin-Only Contraceptive

By User’s Age Type

• 15-24 Year
• 25-34 Years
• 35-44 Years
• Above 44 Years

By End User Type

• • Gynecology Centers
  • Household
  • Ambulatory Surgical Centers
  • Hospitals
  • Clinics
  • Others

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Frequently Asked Questions:

What are hormonal contraceptives?
A: Hormonal contraceptives are medications that use synthetic hormones to prevent pregnancy by suppressing ovulation, thickening cervical mucus, and altering the lining of the uterus. They are available in a variety of forms, including pills, patches, injections, and implants.

Q: How effective are hormonal contraceptives?
A: When used correctly and consistently, hormonal contraceptives are highly effective in preventing pregnancy, with a failure rate of less than 1%.

Q: What are the side effects of hormonal contraceptives?
A: Common side effects of hormonal contraceptives include nausea, headaches, breast tenderness, and changes in menstrual bleeding patterns. More serious side effects, such as blood clots and stroke, are rare but can occur.

Q: Are hormonal contraceptives safe for long-term use?
A: Hormonal contraceptives are generally considered safe for long-term use, although there are some concerns about the potential risks of certain formulations, such as those containing high doses of estrogen.

Q: Are there any non-hormonal contraceptive options?
A: Yes, there are several non-hormonal contraceptive options available, including condoms, diaphragms, cervical caps, and natural family planning methods.

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