Hormonal Contraceptive Market is estimated to grow at a significant CAGR of 4.0%
Global Hormonal Contraceptive Market is expected to reach USD 26.2 billion by 2025. The hormonal contraceptive is termed as a birth control method, which acts on an endocrine system. The method is mainly used to prevent ovulation using female hormones. Progesterone and/or estrogen, or combination of these hormones are the two main forms of hormonal contraception. These hormones may be implanted into body tissue, absorbed from a patch on the skin, may be taken orally, injected under the skin, or placed in the vagina. The Hormonal Contraceptive Market is estimated to grow at a significant CAGR of 4.0% over the future period as the scope and its applications are rising enormously across the globe.
High demand for hormonal contraception for birth control, growing female population, urbanization and raised awareness regarding hormonal contraception, and availability of low cost contraceptive practices are documented as major factors of Hormonal Contraceptive Market that are estimated to enhance the growth in the years to come. However, adverse side effects and key barrier for global market are the factors that may restrain overall market growth in the coming years. Hormonal Contraceptive Market is segmented based on product type, methods, end use, and region.
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Implantation, oral pill, injection, skin patch, intrauterine device (IUD), and other products could be explored in Hormonal Contraceptive Market in the forecast period. Oral pill is also termed as “the pill” that contains grouping of female hormones, progesterone and estrogen. The pill helps to prevent the risk of pregnancy by keeping the lining of the uterus thin and by avoiding ovulation. Intrauterine device (IUD) is a T-shapes small device, which is implanted into uterus that help to prevent pregnancy. The effect of device is for many years and can be removed at certain period. Hormonal IUD and Copper IUD are the two main intrauterine devices.
Sterilization, barrier method, emergency contraception, and hormonal methods are the methods that could be explored in Hormonal Contraceptive in the future period. Barrier method helps to prevent sperm from entering the uterus. Cervical caps, diaphragms, male condom, female condom, and others are the barrier methods. Hormonal method use hormones that may be introduced through injections, pills, vaginal rings, skin patches, and others to stop or regulate ovulation and prevent pregnancy.
Emergency contraception are the hormonal pills that are taken with 12 hours as a single dose or a double dose in case of unprotected intercourse. It helps to inhibit or delay ovulation for at least 5 days until the sperm become inactive. However, sterilization is a permanent form of birth control that either prevents a man from releasing sperm or averts a woman from getting pregnant.
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The market may be categorized based on end users like ambulatory surgical centers, hospitals, clinics, homecare settings, gynecology centers, and others. Gynecology centers and hospitals sectors accounted for the majority market share and is estimated to lead the overall market in the upcoming years. However, other segments are estimated to grow at fastest pace in the future period.
Globally, North America accounted for the largest market share of Hormonal Contraceptive in terms of revenue and is estimated to continue its dominance in the coming years. The reason behind growth of overall market could be presence of key manufacturers in the region and comfort of use. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The developing countries like India and China are the major consumers of this market in the region.
The key players of Hormonal Contraceptive Industry are Teva Pharmaceutical Industries Limited, Bayer Pharma AG, Agile Therapeutics Inc., Merck & Co., Inc., Charleston, SC., and Afaxys, Inc. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As such, mergers, acquisitions, and joint ventures are the need of the hour.
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