The hormonal contraceptives market is anticipated to witness significant growth in the coming years, fueled by a surge in awareness regarding family planning methods and the introduction of innovative products by key players.
The Hormonal Contraceptives Market, valued at USD 17.58 Billion in 2023, is projected to reach USD 25.39 Billion by 2031. This translates to a compound annual growth rate (CAGR) of 4.70% throughout the forecast period from 2024 to 2031.
Several factors are propelling the industry’s growth, including:
- Increasing awareness in emerging economies about hormonal contraception methods.
- Growing investments by major players in R&D for novel contraceptive devices.
- Supportive initiatives by various governments to increase access to contraceptive products.
Public awareness campaigns by celebrities and healthcare organizations are amplifying knowledge of hormonal contraceptives. The WHO is promoting IUDs, injectables, and implants for high-risk populations. To stay competitive, pharmaceutical companies are investing heavily in research and development. For instance, Mayne Pharma’s FDA-approved NEXTSTELLIS utilizes a plant-based estrogen, potentially offering new advantages to users. These trends point to a flourishing hormonal contraceptives market.
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List of Hormonal Contraceptives Market Companies Profiled in Report:
- Merck & Co. Inc.
- Teva Pharmaceuticals Industries Ltd
- Bayer AG
- Pfizer Inc.
- Agile Therapeutics
- Cupid Ltd.
- Helm AG
- Church & Dwight Co. Inc.
- Reckitt Benckiser Group PLC
- Lupin Pharmaceuticals Inc
Market Analysis:
Growing Demand Fueled by Unmet Needs and Product Innovation
Driven by a combination of factors, the hormonal contraceptives market is poised for significant growth. With unintended pregnancies remaining a concern, particularly in developing regions, the need for effective contraception is rising. This is underscored by the high unmet need for modern contraceptives globally. Supporting this rise in demand is growing awareness about family planning, fueled by government initiatives and educational efforts. The 2030 Agenda for Sustainable Development highlights the importance of universal access to reproductive healthcare, further propelling market growth. Additionally, the development of innovative contraceptives like Nextstellis, with its plant-based estrogen, is expected to entice more users, solidifying the market’s potential.
Key Market Segments
By Product
- Transdermal Patches
- Oral Contraceptive Pills
- Emergency Contraceptive Pills
- Injectable Birth Control
- Vaginal Rings
By Hormones
- Combined Hormonal Contraceptive
- Progestin-Only Contraceptive
By Age Group
- 14-23 Years
- 24-35 Years
- 36-45 Years
- Above 45 Years
By End User
- Household
- Hospitals
- Clinics
Segment Insights: Oral Contraceptives Remain Dominant
Method Insights
The hormonal contraceptives market is divided into various delivery methods, with contraceptive pills reigning supreme. In 2023, pills gobbled up over 45% of the global market share, signifying their dominant position.
Hormone Insights
Based on hormones, the global market is further categorized into combination hormonal contraceptives and progestin-only options. Combination hormonal contraceptives dominated the market in 2023, holding the largest revenue share. This segment is expected to expand further at the second-fastest CAGR, maintaining its leading position throughout the forecast period.
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Impact of Global Events on the Hormonal Contraceptives Market
The hormonal contraceptives market faces both challenges and opportunities from global events. The ongoing Russia-Ukraine conflict has had a negative impact, particularly in nearby regions like the European Union and Eastern Europe. Disruptions in trade and economic instability have caused a temporary decline in market growth within Ukraine due to population displacement. However, this is expected to be a short-term effect as underlying drivers like unmet needs for contraception and rising awareness remain strong. The market is anticipated to rebound to a growth range of 3.5% to 4.1% after the conflict stabilizes.
On the other hand, economic slowdowns may pose a threat as individuals and governments tighten budgets, potentially reducing spending on non-essential healthcare products. However, the market is expected to show resilience due to the essential nature of hormonal contraceptives for family planning and reproductive health.
Regional developments: North America is leading growth in the market
This is fueled by a trifecta of factors: high adoption rates, a strong industry presence, and well-developed healthcare infrastructure. The US, a key player within the region, benefits from significant government funding for family planning initiatives. As an example, in FY 2020, the US allocated USD 608 million to this cause, highlighting its commitment to promoting family planning and ultimately driving market growth. Canada further strengthens North America’s position with its dedication to women’s health. Their 2019 pledge of USD 1.4 billion annually by 2023, with USD 700 million specifically allocated to sexual and reproductive health rights (SRHR), demonstrates their commitment to increasing access to contraceptives.
Recent Developments
July 2022: Mayne Pharma Group Limited and Mithra Pharmaceuticals, SA launched NEXTSTELLIS (14.2 mg of estetrol and 3 mg drospirenone tablets) in Australia. This is one of the first oral contraceptives containing a novel estrogen.
January 2022: The National Population and Family Planning Agency launched a progestin-based birth control pill specifically designed for nursing mothers. This pill promotes breastmilk production and encourages exclusive breastfeeding, which can help prevent infant stunting.
Key findings from the Hormonal Contraceptive Market Study
- Gain insights into the anticipated growth trajectory of the hormonal contraceptives market over the next seven years.
- Understand the performance of various segments, including methods (pills, IUDs, etc.) and hormone types (combination vs. progestin-only).
- Identify potential growth opportunities in key regions like North America, Europe, and Asia Pacific.
- Explore the influence of factors such as the Russia-Ukraine war, economic slowdowns, and government initiatives on the market.
- Gain a better understanding of the key players in the market and their product portfolios.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Hormonal Contraceptives Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Hormonal Contraceptives Market Segmentation, By Product
Chapter 9 Hormonal Contraceptives Market Segmentation, By Hormones
Chapter 10 Hormonal Contraceptives Market Segmentation, By Age Group
Chapter 12 Hormonal Contraceptives Market Segmentation, By End User
Chapter 13 Regional Analysis
Chapter 14 Company profile
Chapter 15 Competitive Landscape
Chapter 16 Use Case and Best Practices
Chapter 17 Conclusion
Continued…
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