The global hormonal contraceptive market size is expected to reach USD 26.2 billion by 2025, according to a new
report by Grand View Research, Inc., registering a CAGR of 4.0% during the
forecast period. Introduction of innovative products in the market and growing
awareness about reproductive and sexual health in emerging regions are likely
to drive the market in the coming years.
Pill, Intrauterine Devices (IUD),
injectable, vaginal rings, implants, and patches are various methods used for
hormonal contraception. Hormonal contraception methods act on the endocrine
system to prevent ovulation.
Increasing number of women in developing
economies are using contraceptives due to rise in government initiatives and
programs, which is anticipated to accelerate market growth. For instance,
according to the UN, approximately 64.0% of women between 15 and 49 years of
age were using some form of family planning in 2015, be it traditional or
modern. This figure stood at 36.0% in 1970.
The number of unintended pregnancies
annually is highest in U.S., which is about 3 million. Hence, the Center for
Medicaid and CHIP Services (CMCS) established a Maternal and Infant Health
Initiative for the Medicaid and Children’s Health Insurance Program (CHIP)
program to promote use of effective methods of contraception and help women
avoid such pregnancies.
Browse
Research Report on Hormonal Contraceptive Market:
Further
key findings from the report suggest:
·
Increasing demand for contraceptive methods
can be attributed to growing awareness about pills and devices, increasing
significance of family planning, and supportive government regulations
improving access to these products
·
In 2016, pills accounted for the largest
share in the market as they are convenient to use and exhibit more than 99.0%
effectivity when accurately consumed. Furthermore, ease of availability, fewer
adverse effects, and large number of players operating in the market can be
attributed to this share
·
The IUD segment is expected to witness the
fastest growth during the forecast period. This can be attributed to entry of
new devices in the market over the recent past, availability of long-acting
reversible birth control methods, and more than 99.0% effectivity
·
Geographically, North America held the
largest share in 2016 and is anticipated to maintain its dominance during the
forecast period due to local presence of market players, high per capita
income, and supportive government initiatives
·
Asia Pacific is estimated to witness the
fastest growth during the forecast period due to high unmet need, expected
increase in coverage during the next 15 years, and increasing number of women
of reproductive age
·
Some of the key players operating in the
market are Teva Pharmaceuticals Industries Ltd.; Bayer AG, Merck & Co.
Inc.; Pfizer, Afaxys, Inc.; Agile Therapeutics; Allergan; and Apothecus
Pharmaceutical Corporation.
View more reports of this
category by Grand View Research at
Grand View Research has segmented the global hormonal contraceptive
market on the basis of method and region:
Hormonal Contraceptive Method Outlook (Revenue, USD Million, 2014 -
2025)
·
Pill
·
Intrauterine Devices (IUD)
·
Injectable
·
Vaginal Ring
·
Implant
·
Patch
View press release of this
research report by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials, and healthcare.
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