The Market Growth Can be Ascribed to the Growing Awareness Regarding the Usage of Oral Contraceptives and Their Benefits for Preventing Unintended Pregnancy, and Population Control Significantly Increased the Demand for Hormonal Contraceptives Across Different Parts of the Globe.
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Increasing Number of Unplanned Pregnancies
The main factors that affect the growth of the global hormonal contraceptives market are the increasing awareness of family planning due to growing urbanization growing g influence on the changing lifestyle of individuals. Many government organizations are taking initiatives to control the population size. However, hormonal contraceptives are considered more reliable than non-hormonal contraceptives such as condoms and diaphragms, and there is a huge chunk of the female population with unplanned needs. This in turn may help the hormonal contraceptives market grow during the forecast period. As per a publication in PubMed, the number of unintended pregnancies in the U.S. is around three million annually. So, the growing unplanned need for contraceptives significantly increased the demand, which is further boosting the growth of the market in the forecast period. According to NCBI research, only 1 woman out of 1000 women gets pregnant if they take these contraceptives properly.Development of New Contraceptives
Major companies are innovating to manufacture chewable low-dose oral contraceptives that reduce side effects. The chewable contraceptive initiative was an attempt to reduce side effects while at the same time making it easier for the patients to get into a daily regimen of using this contraceptive. Some of the top companies that develop and sell chewable low-dose oral contraceptives are Lupin pharmaceuticals, Walter Chilcott, and Watson pharmaceuticals. According to the United Nations Contraceptive Use by Method 2019 study, a single method accounts for 50% or more of all contraceptive use in at least one out of every five nations or regions.Market Segmentation
The global hormonal contraceptive market can be segmented by method, hormone, and region. Based on the method, the market can be segmented into Pills, Intrauterine Devices, Injectables, Vaginal rings, implants, and Others. Based on hormones, the market can be divided into Combination Hormonal Contraceptives v/s Progestin Only. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, the United States dominated the global hormonal contraceptives market on account of increasing unplanned pregnancies with low-cost product in the country.Market Players
Abbvie, Inc., Afaxys, Inc., Teva Pharmaceuticals Industries Ltd., Bayer AG, Merck & Co. Inc., Organon Group of Companies, Pfizer Inc., Johnson & Johnson, Lupin Pharmaceuticals Inc., Pregna International Ltd. are some of the leading players operating in the Global Hormonal Contraceptives Market.Recent Development
- For instance, in April 2021, Mayne Pharma received U.S. FDA approval for NEXTSTELLIS and estetrol for avoiding pregnancy. It is the only contraceptive pill with E4 and a plant-based estrogen having few important benefits compared to other estrogens.
- For instance, in July 2021, the MHRA launched the OTC sale of contraceptive pills in U.K. pharmacies. Two contraceptive pill brands, Hana and Lovima, are selling desogestrel- synthetic progesterone, OTC, with a brief consultation with a pharmacist.
- For instance, in June 2021, Teva Pharmaceuticals USA launched the generic form of NuvaRing, Ethinyl estradiol, and etonogestrel vaginal ring contraceptive.
- In February 2020, Agile Therapeutics, Inc. received U.S. FDA approval for the Twirla, a transdermal patch containing levonorgestrel and Ethinylestradiol.
Report Scope:
In this report, global hormonal contraceptives market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:Hormonal Contraceptives Market, By Method:
- Pill
- Intrauterine Device
- Injectable
- Vaginal Ring
- Implant
- Others
Hormonal Contraceptives Market, By Hormone:
- Combination Hormonal Contraceptives
- Progestin Only
Hormonal Contraceptives Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Egypt
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in Global Hormonal Contraceptives Market.Available Customizations:
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abbvie, Inc.
- Afaxys, Inc.
- Teva Pharmaceuticals Industries Ltd.
- Bayer AG
- Merck & Co. Inc.
- Organon Group of Companies
- Pfizer Inc.
- Johnson & Johnson
- Lupin Pharmaceuticals Inc.
- Pregna International Ltd.