New Jersey, NJ, Oct. 21, 2019 (GLOBE NEWSWIRE) -- Increasing awareness about reproductive and sexual health worldwide and increase in women population around the world are driving the growth of the market. The global hormonal contraceptive market is expected to grow from USD 19.31 Billion in 2017 to USD 31.07 Billion by 2025, at a CAGR of 5.80% during the forecast period 2018-2025, according to the new report published by Fior Markets.
Hormonal contraceptives are used as a birth control method. These pills act on the endocrine system. These are used to prevent ovulation and in turn pregnancy. However, they do not provide protection against HIV or other sexually transmitted infections. Two types of hormonal contraceptives are available in the market i.e. progestin-only contraceptive and combination hormonal contraceptive. Increasing focus towards family planning and need for preventing teenage pregnancies are fuelling the market. Hormonal contraceptives contain a small amount of man-made estrogen and progestin hormones.
Increasing women population globally and unwanted teenage pregnancies are boosting demand of hormonal contraceptives in forecast period. In addition, rising awareness about sexual health is also boosting the growth of the hormonal contraceptive market. Lack of awareness about these products in developing region may restrict the growth of the market. However, innovations in R&D activities, commercialization of new products and increasing adaptation of minimally invasive procedure or combined hormonal contraceptive are propelling the growth of the hormonal contraceptive market in forecast period.
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Key players operating in the global hormonal contraceptive market are Teva Pharmaceutical, Amgen, Sun Pharmaceutical, Bayer Healthcare, Piramal Healthcare, Cipla Limited, Pfizer, Inc., Glenmark Pharmaceuticals, Novartis AG, Lupin Pharmaceuticals, Reckitt Benckiser Plc, HLL Lifecare Limited, Boehringer Ingelheim GmbH, Watson Pharmaceuticals, Inc., V-Care Pharma Pvt. Ltd., Vardhman Life Care and others. In order to enhance their market position in the global hormonal contraceptive market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
Oral contraceptive segment accounted for the largest market share of 38.94% in 2017
The method segment is classified into combined oral, oral contraceptive, implanted, injected, intrauterine, transdermal patch, and vaginal ring contraceptives. Oral contraceptive segment dominated the global hormonal contraceptive market and held the largest market share of 38.94% in 2017. Easy mode of administration, wide range of availability and high awareness about pills are driving the growth of the segment. The oral contraceptive are safe and reliable option for preventing unwanted pregnancy. It includes a combination of an estrogen and a progestogen.
Androgens is anticipated to dominate the global hormonal contraceptive market with highest CAGR of 6.58% over the forecast period.
Hormones segment is divided into androgens, estrogens, progestrogens, gonadotropins, antiandrogens and others. Androgens segment is anticipated to dominate the global hormonal contraceptive market with highest CAGR of 6.58% over the forecast period. Increase in prevalence of PCOS, fewer side effects and effective results than progestin contraceptives makes other hormones the preferred choice. Androgens are a group of hormones that play a role in male traits and reproductive activity. Androgens are produced primarily from the adrenal glands and the ovaries.
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Gynaecology centers segment is estimated to grow at a rapid growth rate over the forecast period
End-user segment is classified into hospitals, homecare, gynaecology centers, clinics and ambulatory surgical centers. Gynaecology centers segment is estimated to grow at a rapid growth rate over the forecast period. The gynaecology center provides a range of obstetrical and gynaecological services for women of all ages. These gynaecology centers are premier centers of excellence for women's health.
Regional Segment Analysis of the Hormonal Contraceptive Market
North America region captured the largest share of global hormonal contraceptive market and was valued around USD 8.87 billion in 2017 whereas Asia pacific is expected to witness the highest CAGR of 6.48% in the forecast period. North America region is expected to dominate the market owing to high income, strong presence of major market players, higher awareness about sexual health and large number of unintended pregnancies. Asia pacific is projected to be the fastest growing region in the forecast period due to large fertile population and introduction of new female contraception devices.
About the report:
The global hormonal contraceptive market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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