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The global hormonal contraceptives market size stood at USD 16.7 billion in 2018 and is projected to reach USD 26.6 billion by 2026, exhibiting a CAGR of 5.8% during the forecast period.
Birth control is described as the use of 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. Hormonal contraceptive is a form of birth control methods that acts on the endocrine system and regulates the hormonal change in women by using synthetic forms of estrogen and progesterone to prevent pregnancy. The most commonly used method of contraception across the globe are in the form of pills, injectable, patches, implants, intrauterine devices, and others.
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The unmet needs for contraceptives remain high in certain developing regions is a key factor promoting the market growth during the forecast period. This inequality has been fueled over the decade by the lack of contraception services owing to unawareness. However, the use of contraceptives is 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, the use of modern contraception has risen from 54% in 1990 to 57.4% in 2015 globally.
In choosing any form of hormonal contraception, the potential risks associated with infections such as sexually transmitted diseases (STD) and HIV are also considered. However, the availability of barrier contraceptives such as condoms and diaphragms at a comparatively lower cost is lowering the market revenue.
“Significant Unmet Needs for Hormonal Contraceptives to Fuel Market”
Hormonal contraceptives are considered to be more reliable than condoms and sponges/diaphragms. According to a study published by NCBI, only 1 out of 1,000 women get pregnant if they take hormonal contraceptives properly. The rising unmet need for hormonal contraceptives is significantly propelling its demand to improve their supply in niche regions across the globe. WHO says that around 24.2% of women of reproductive age in Africa have an unmet need for modern contraception, while in Asia and Latin America & the Caribbean, the levels of unmet need are 10.2 % and 10.7%, respectively. Such a huge gap in supply & demand is projected to augment the hormonal contraceptives market growth during the forecast period.
“Introduction of Effective & Easy-to-use Hormonal Contraceptives to Boost Market”
Various key manufacturers are actively involved in making investments in the R&D of novel & effective means of contraception. The introduction of hormonal contraceptive implant & 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 3 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 a revenue of US$ 902 Mn and is anticipated to reflect a trend.
“Implants Segment to Witness Remarkable Growth”
Based on the product, the hormonal contraceptive types are pills, implants, intrauterine devices, vaginal rings, injectable, and others. Hormonal contraceptive pills accounted for the highest hormonal birth-control market share in 2018, attributable to the improved accessibility of combination pills in the niche regions, their cost-effectiveness, and green signal by regulatory authorities for the approval of 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.
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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 product generated a revenue of US$ 703 Mn in 2018 and is likely to expand with a relatively significant CAGR during 2019-2026.
“Significant Preference for Intrauterine Device to Favor Hospital Pharmacy Segment”
In terms of distribution channels, the market is segmented into hospital pharmacy, retail pharmacy, online channel, public channel & NGOs, and others. Hospital pharmacy accounted for the highest birth-control market revenue in 2018 and is likely to remain dominant throughout the forecast duration. Rising unmet needs for the contraception, preference for irreversible contraception by women in emerging economies, introduction of novel intrauterine devices by companies such as Bayer AG and Allergan, and establishment of multispecialty hospitals are the key driving factors helping the hospital pharmacy segment dominate the market. Moreover, rising investment for the betterment of hospital pharmacies, especially in developing economies, is anticipated to boost the hospital pharmacy segment.
The report focusses on several hormonal contraceptives market trends covering regions such as North America, Europe, Asia Pacific, and the Middle East and Africa. North America, with a revenue of US$ 5.8 Bn in 2018, accounted for a major hormonal contraceptives market share. 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. This region is likely to continue leading throughout the forecast duration. Europe is emerging as the second most prominent region in terms of revenue, owing to the launch of novel hormonal contraceptive products. Germany is anticipated to witness relatively significant growth during the forecast period, which is attributable to the emergence of reimbursement for contraception in the country.
North America Hormonal Contraceptives Market Size, 2018
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However, Asia Pacific is anticipated to reflect a relatively higher CAGR during the forecast period, owing to the improved growth in the pharmaceutical industry in countries such as India and Japan. Moreover, increased awareness about contraception and government participation to implement some measures to control the population are expected to augment the hormonal contraceptives market revenue in Asia Pacific by 2026.
Companies aim at spreading awareness about contraception and promote their use. This is a key factor for the rising uptake of contraceptive pills in countries such as Brazil & Mexico. The Middle East & Africa is anticipated to witness significant growth during the forecast period. This is attributable to the rising literacy rate in the region, the procurement of hormonal contraceptive drugs by the government to supply in African countries, and the efficient distribution of hormonal contraceptive devices by key pharmaceutical giants. The significant penetration of companies such as Merck & Bayer is expected to help in the expansion of Middle East & Africa market during the forecast period.
“Merck & Co., Inc & Bayer AG to Lead the Market”
In terms of revenue, 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 the company growth during 2019-2026. Another prominent player operating in the market is Bayer AG, which markets contraceptive pills as well as a range of intrauterine devices. The Mirena range of products that contain 3 intrauterine devices generated a revenue of US$ 1,143 Mn in 2018, which propelled the hormonal contraceptive market growth of the company in 2018.
The ability of women to choose when and if to become pregnant has a significant impact on her well-being and health. It is highly important that various forms of contraception are widely accessible in every corner of the world, which is propelling the efforts taken by public & private players to promote family planning. Upsurge in the prevalence of sexually transmitted diseases and rising awareness about the infections such as HIV amongst the general population is propelling the hormonal contraceptives market growth.
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The research report offers an in-depth analysis of the market. It further provides details on the fertility statistics, regulatory and reimbursement scenario for key countries, new product launches, and key industry developments such as mergers, acquisitions, and partnerships. Information on drivers, opportunities, threats, and restraints of the market can further help stakeholders to gain valuable insights into the market. The report offers a detailed competitive landscape by presenting information on key players, along with their strategies, in the market.
Value (USD million)
By Distribution Channel
The value of this market was USD 16.7 billion in 2018.
Fortune Business Insights says that the global market is projected to reach USD 26.6 billion by 2026.
The market in North America stood at USD 5.8 billion in 2018.
The market is projected to grow at a CAGR of 5.8% during the forecast period (2019-2026).
Pills segment amongst the product type is the leading segment in this market during the forecast period.
Significant unmet needs for the contraceptive measures in niche countries and introduction of effective hormonal contraceptive methods are the key factors driving the market for hormonal contraceptives.
Merck & Co., Inc. & Bayer AG are the top players in the market.
North America is expected to hold the highest market share.
Investing in the development of novel contraceptive devices and government participation in taking measures against the rising population are the key trends of the hormonal birth-control market.
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