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Hormonal Contraceptives Market Size, Share & COVID-19 Impact Analysis, By Product (Pills, Injectable, Vaginal Rings, Intrauterine Devices, Implants, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Channel, Public Channel & NGOs, and Others), and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI102078

 

KEY MARKET INSIGHTS

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The global hormonal contraceptives market size was USD 17,620.9 million in 2019. The global impact of COVID-19 has been unprecedented and staggering, with the market witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the market exhibited a decline of -4.3% in 2020 as compared to the average year-on-year growth during 2016-2018. The market is expected to grow from USD 16,866.1 million in 2020 to USD 24,330.1 million in 2027 at a CAGR of 5.4% during the 2020-2027 period. The sudden rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.


Birth control is described as using various forms of device, drugs, or surgical methods to prevent conception. Various factors are taken into consideration while choosing an appropriate way of contraception by men and women. There are different types of contraception, which can be barriers or hormonal contraceptive methods. A hormonal type of contraceptive is a form of birth control that acts on the endocrine system and regulates the hormonal change in women using synthetic forms of estrogen and progesterone to prevent pregnancy. The most commonly used contraception methods across the globe are pills, injectables, patches, implants, intrauterine devices, and others.


The unmet needs for contraceptives remain high in certain developing regions. This inequality has been fueled over the decade by the lack of contraception services due to unawareness. However, contraceptives are rising in emerging countries, owing to the introduction of novel hormonal contraceptives by key companies and government participation in promoting safe sex and family planning. According to the World Health Organization, modern contraception rose from 54% in 1990 to 57.4% in 2015 globally.


Limited Access to Contraceptives amid COVID-19 to Decline Revenue


Demand for hormonal contraceptives is expected to drop drastically in 2020 compared to 2019. Owing to the COVID-19 pandemic, there is a lack of accessibility in terms of contraceptives. For instance, Authors at the Guttmacher Institute have estimated that if there were a 10% decline over a year in the use of contraception due to stock‐outs, closed clinics, or unavailability of providers, an additional 48,558,000 women would have an unmet need for contraception worldwide, resulting in 15,401,000 additional unintended pregnancies, 1,745,000 additional women experiencing major obstetric complications without care, and 3,325,000 additional women resorting to unsafe abortions.


The World Health Organization reports two-thirds of 103 countries surveyed between mid-May and early July reported disruptions to family planning and contraception services. The U.N. Population Fund warns of up to 7 million unintended pregnancies worldwide. Hence, such factors project a decline in the hormonal contraceptives market growth.


LATEST TRENDS


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Introduction of Effective & Easy-to-use Hormonal Contraceptives is a Vital Trend


Various key manufacturers are actively involved in making investments in the R&D of novel & effective contraception methods. The introduction of hormonal contraceptive implants & vaginal rings has changed the face of the hormonal contraceptives industry. This is attributable to the fact that both the products have been highly preferred since their launch in developed countries such as the U.S. Nuvaring, a vaginal ring, is one of the highly preferred forms of hormonal contraception amongst women, which is as effective as contraceptive pills. The product can be used for three weeks and then replaced with a new one. The user-friendly design of Nuvaring facilitates its pain-free insertion, which is a key factor for its rising uptake in the developed countries. The product generated revenue of USD 902 million and is anticipated to reflect a market trend.   


DRIVING FACTORS


Significant Unmet Needs for Contraceptives to Fuel Market Growth


Hormonal contraceptives are considered to be more reliable than condoms and sponges/diaphragms. According to an NCBI study, only 1 out of 1,000 women get pregnant if they take these contraceptives properly. The rising unmet need for contraceptives significantly propels its demand to improve its supply in niche regions worldwide. The World Health Organization (WHO) reports that around 24.2% of women of reproductive age in Africa have an unmet need for modern contraception. In Asia and Latin America & the Caribbean, the unmet need levels are 10.2 % and 10.7%, respectively. Such a huge gap in supply & demand is projected to augment the market growth during the forecast period.  


RESTRAINING FACTORS


Associated Side Effects Might Restrain Market Growth


The potential disadvantages include side effects such as headaches, nausea, sore breasts, and vaginal yeast infections (thrush). The hormones can also cause spotting between periods or lead to mood swings and may reduce women’s sexual desire. Moreover, there is a small risk of blood clots forming (thrombosis). This risk is higher in women over the age of 40 and in women who smoke, are very overweight, or have a higher risk of vascular disease in their family. Hence such associated disadvantages might hinder the market growth. 


SEGMENTATION


By Product Analysis


Pills Segment to Dominate the Market Due to Improved Accessibility


Based on product, the global market for hormonal contraceptives is categorized into pills, injectable, vaginal rings, intrauterine devices, implants, and others.


Among them, the pills segment is poised to hold a significant market share during the forecast period. This is attributable to the improved accessibility of combination pills in the niche regions, their cost-effectiveness, and green signal by regulatory authorities to approve combination pills. According to CDC, in the U.S., about 12% of women between ages 15 and 49 use oral contraceptives as a means to avoid pregnancy.


In terms of growth rate, the birth-control implant is anticipated to grow at the highest CAGR during the forecast period. The Implanon implant introduced by Merck & Co., Inc. is known to be more than 99% effective at preventing pregnancy. It works by preventing the release of an egg from the ovaries every month, and the implant lasts for up to three years.


The vaginal rings segment is expected to showcase significant growth during the forecast period. This is due to the rising number of product launches during the past few years. For instance, in January 2021, Teva Pharmaceuticals announced the availability of a generic version of NuvaRing1 (etonogestrel and Ethinyl estradiol vaginal ring) in the U.S. indicated for use by women to prevent pregnancy.


By Distribution Channel Analysis


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Hospitals Segment to Hold Largest Market Share in the Near Future


In terms of distribution channel, the hospital pharmacy segment accounted for the maximum portion of the market in 2019. The rising unmet need for these hormonal type of contraceptives, preference for irreversible contraception by women in emerging economies, the introduction of novel intrauterine devices by companies such as Bayer AG and Allergan, and the establishment of multispecialty hospitals are the key factors driving the segmental growth. Moreover, the rising investment for the betterment of hospital pharmacies, especially in developing economies, is anticipated to boost the hospital pharmacy segment.    


The retail pharmacy segment is expected to experience significant growth during the forecast period. This is majorly attributable to the increasing number of retail pharmacy outlets being established in developed and developing economies.


The rising adoption of e-commerce is anticipated to favor the expansion of the online channel segment.


Active government initiatives for women’s reproductive health, especially in developing economies, are expected to drive the public channel & NGOs segment's growth.


REGIONAL INSIGHTS


North America Hormonal Contraceptives Market Size, 2019 (USD Million)

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The market in North America stood at USD 6,877.6 million in 2019 and is anticipated to dominate the global market during the forecast period. This is attributable to the strategic presence of key pharmaceutical giants, increased prevalence of unwanted pregnancies among teenagers, and improved awareness about various hormonal contraceptive methods in the U.S.


Europe is emerging as the second most prominent region in terms of revenue due to novel hormonal contraceptive products. Germany is anticipated to witness relatively significant growth during the forecast period. This is attributable to the emergence of reimbursement for contraception in the country.    


Asia Pacific is anticipated to showcase a relatively higher CAGR during the forecast period due to improved pharmaceutical industry growth in countries such as India and Japan. Moreover, the rising awareness about contraception and government participation to implement some measures to control the population are expected to augment the market growth during the forecast period.  


The increasing healthcare spending, technological advancements, and the growing penetration of market players are factors propelling the market growth in Latin America.


The increasing birth control methods and STDs awareness programs in the Middle East & Africa by NGOs are expected to fuel the market in the region.


KEY INDUSTRY PLAYERS


Strong Brand Presence of Major Companies to Augment Revenue Growth


The global market is consolidated in nature, with major key players operating in this market such as Merck & Co., Inc., Allergan, Teva Pharmaceutical Industries, Pfizer, Inc., and Mylan N.V., among others. Merck & Co., Inc. accounts for a dominating position in the market owing to its two blockbuster products Nuvaring and Implanon/Nexplanon. Significant uptake of the two products across the globe is anticipated to boost its growth during 2020-2027. Another prominent player operating in the market is Bayer AG, which markets contraceptive pills and a range of intrauterine devices. 


LIST OF KEY COMPANIES PROFILED:



  • Allergan (Dublin, Ireland)

  • Merck & Co., Inc. (New Jersey, United States)

  • Janssen Pharmaceuticals, Inc. (Beerse, Belgium)

  • Teva Pharmaceutical Industries (Petah Tikva, Israel)

  • Pfizer, Inc. (New York, United States)

  • Mylan N.V. (Pennsylvania, United States)

  • Novartis AG (Basel, Switzerland)

  • Other Prominent Players


KEY INDUSTRY DEVELOPMENTS:



  • January 2021 - Teva Pharmaceutical Industries Ltd. announced a generic version of NuvaRing in the U.S.

  • December 2019 - Prasco, an authorized generic company, introduced NuvaRing (etonogestrel/Ethinyl estradiol vaginal ring). This is Prasco's 9th authorized generic launch in partnership with Merck & Co., Inc., and the 9th women's health product available in the market.

  • May 2018 - Aurobindo Pharma Limited launched Mili and Tri-Mili lines of oral contraceptive tablets. The products are AB-rated generic equivalent to the reference listed drugs Ortho-Cyclen and Ortho Tri-Cyclen.


REPORT COVERAGE


An Infographic Representation of Hormonal Contraceptives Market

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The global hormonal contraceptives market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, products, applications, and end-users. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market over recent years.


Report Scope & Segmentation














































  ATTRIBUTE



  DETAILS



Study Period



   2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



   Value (USD Million)



Segmentation



  Product; Distribution Channel; and Region



By Product


 




  • Pills

  • Injectable

  • Vaginal Rings

  • Intrauterine Devices

  • Implants

  • Others



By Distribution Channel


 




  • Hospital Pharmacy

  • Retail Pharmacy

  • Online Channel

  • Public Channel & NGOs

  • Others



By Geography


 




  • North America

    • By Product

    • By Distribution Channel

    • By Country

      • USA

      • Canada







  • Europe

    • By Product

    • By Distribution Channel

    • By Countries/ Sub-regions

      • UK

      • Germany

      • France

      • Italy

      • Spain

      • Scandinavia

      • Rest of Europe





  • Asia Pacific

    • By Product

    • By Distribution Channel

    • By Countries/ Sub-regions

      • Japan

      • China

      • India

      • Australia

      • Southeast Asia

      • Rest of Asia Pacific





  • Latin America

    • By Product

    • By Distribution Channel

    • By Countries/ Sub-regions

      • Brazil

      • Mexico

      • Rest of Latin America







  • The Middle East & Africa

    • By Product

    • By Distribution Channel

    • By Countries/ Sub-regions

      • GCC

      • South Africa

      • Rest of the MEA







 


Frequently Asked Questions

Fortune Business Insights says that the global market stood at USD 17,620.9 million in 2019 and is projected to reach USD 24,330.1 million by 2027.

In 2019, the market stood at USD 17,620.9 million.

The market will exhibit steady growth at a CAGR of 5.4% during the forecast period (2020-2027).

By the product, the pills segment will lead the market.

Significant unmet needs for contraceptive measures in niche countries and effective hormonal contraceptive methods are the key factors driving this market.

Merck & Co., Inc. & Bayer AG are the top players in the market.

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Hormonal Contraceptives Market Size, Share and Global Industry Trend Forecast till 2026
  • Mar, 2021
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  • 2016-2018
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