26 C
New York
Monday, June 24, 2024
HomeResearchHormonal Contraceptives Market to Surpass USD 25.39 Billion by 2031 Driven by...

Hormonal Contraceptives Market to Surpass USD 25.39 Billion by 2031 Driven by Rising Awareness and Expanding Product Portfolio


Related stories


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.

Download Free Sample Report of Hormonal Contraceptives Market @ https://www.snsinsider.com/sample-request/3063

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.

Hormonal Contraceptives Market

Have Any Query? Ask Our Experts @ https://www.snsinsider.com/enquiry/3063

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.

Purchase Hormonal Contraceptives Market Report @ https://www.snsinsider.com/checkout/3063

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


About US:

SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.

Contact Us:

Akash Anand – Head of Business Development & Strategy


Phone: +1-415-230-0044 | +91-7798602273 (IND)


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories