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Hormonal Contraceptives Market to Reach $24,330.1 Million by 2027; Prasco Launching Authorized Generic NuvaRing to Stoke Demand

March 22, 2021 | Healthcare

The global hormonal contraceptives market size is expected to gain momentum by reaching USD 24,330.1 million by 2027. This information is published by Fortune Business Insights in its latest report, titled, 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.” The report further mentions that the market stood at USD 17,620.9 million in 2019 and is projected to exhibit a CAGR of 5.4% between 2020 and 2027.


Prasco Launches Authorized Generic NuvaRing to Brighten its Market Prospects


In December 2019, Prasco, a leading supplier of generic medical products, announced the launch of an authorized generic NuvaRing. According to the company, the etonogestrel/ethinyl estradiol vaginal ring is a flexible and small vaginal ring for women to prevent pregnancy. Moreover, the company reports that the product is expected to be available across stores and the patients can find the contraceptive in the nearby pharmacies with the help of product locator tool available at AuthorizedGenerics.com. Such initiatives by companies are likely to bode well for the growth of the global market for these contraceptives.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/hormonal-contraceptives-market-102078


Increasing Prevalence of Unwanted Pregnancies to Aid Growth


According to the data by the Guttmacher Institute, around 5% of reproductive-age women go through unwanted pregnancy annually. The rate is considerably higher in the United States compared to other developed countries. The increasing incidence of unwanted pregnancy is expected to boost the adoption of innovative and effective hormonal contraceptives that is likely to contribute to the market growth in the forthcoming years. Moreover, the introduction of easy-to-use and efficient contraceptives is likely to bode well for the growth of the market.


Major Companies Focus on Investment in R&D Activities to Strengthen Their Market Positions


The global hormonal contraceptives market is consolidated by the presence of prominent companies focusing on investing in the development of advanced contraceptives to cater to the growing healthcare demand. Additionally, adoption of organic and inorganic strategies by other key players to gain a major chunk of the market share is projected to bode well for the market growth during the forecast period.  


Industry Development:



  • September 2017 – The Ministry of Health and Family Welfare introduced two new contraceptives that consist of injectable contraceptive and a contraceptive pill, Chhaya, MPA under the Antara program. The initiative is aimed at expanding the contraceptive choices to meet the growing demand from couples.


List of the Companies Profiled in the Global Market:



  • 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


Further Report Findings:



  • North America is expected to remain at the forefront and hold the largest global hormonal contraceptives market share in terms of revenue in the forthcoming years. The region stood at USD 6,877.6 million in 2019. Factors such as massive advancement in the adoption of several contraceptive methods in countries such as the U.S. and the presence of key pharmaceutical companies in the region is expected to boost the product’s adoption.

  • On the other hand, Europe is expected to hold the second position in the market backed by the increasing focus on launching novel hormonal contraceptives by the companies in the region between 2020 and 2027.

  • Based on product, the pill segment is anticipated to showcase considerable growth owing to the improved accessibility for birth control pills even in niche regions across the globe.


Table of 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






Hormonal Contraceptives Market
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  • 2019
  • 2016-2018
  • 126

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