According to the latest report by IMARC Group, titled, “Hormonal Contraceptive Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027″, The global contraceptive pills market size is expected to grow at a CAGR of around 4% during 2022-2027.
Hormonal contraceptives refer to the formulations of progestin or a combination of estrogen and progesterone hormones. They work on the endocrine system to prevent ovulation and fertilization. As a result, hormonal contraceptives are utilized to avoid unwanted pregnancies and can be taken before and after vaginal intercourse. These formulations also affect the womb lining, which makes fertilized eggs difficult to be implanted. Such products include birth control pills, vaginal rings, contraceptive skin patches, hormone-releasing contraceptive coils, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Hormonal Contraceptive Market Trends:
The growing awareness among consumers towards family planning is driving the hormonal contraceptive market. Moreover, the rising number of health issues associated with teenage pregnancies is further propelling the market growth. Besides this, various initiatives by government bodies and NGOs to support and enhance access to these products by promoting affordable and high-quality healthcare services are also augmenting the global market. Additionally, numerous advancements in the healthcare industry are leading the production of innovative products, such as hormonal patches, implants, intrauterine devices, etc., which are acting as significant growth-inducing factors. In the coming years, the increasing popularity of these devices owing to their several benefits, such as fewer side effects, high levels of efficiency in preventing pregnancy, ease of access, etc., is anticipated to fuel the global hormonal contraceptive market.
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Hormonal Contraceptive Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Afaxys Inc., Agile Therapeutics Inc., Allergan Inc. (AbbVie Inc.), Bayer AG, Cipla Limited, Johnson & Johnson, Merck & Co. Inc., Pfizer Inc., Piramal Group and Teva Pharmaceutical Industries Ltd.
The report has segmented the market on the basis on product, hormone, age group and end user.
Breakup by Product:
Breakup by Hormone: