Pune, India, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Global hormonal contraceptives market size is projected to reach a value of USD 26.6 billion by 2026, with a notable CAGR of 5.8% during the forecast period 2019 to 2026. This is owing to the unmet needs for contraceptives worldwide, especially in developing nations. The market was valued at USD 16.7 billion in 2018. The World Health Organization estimated a rise in the utilization of modern contraceptives from 54% in 1990 to about 57.4% in 2015. America accounted for the largest hormonal contraceptives market share with a revenue generation of US$ 5.8 Bn in 2018. This is attributed to the presence of major manufacturing companies coupled with the rise in awareness about different birth-control methods in the U.S.

This is attributable to the easy availability and user reliability of contraceptive products all over the world. Such factors are likely to add impetus to the hormonal contraceptives market size in the forecast duration.

INDUSTRY DEVELOPMENT:

  • October 2019: USFDA approved six-year duration for Liletta, a hormonal IUD manufactured by Allergan. The device is known to be the long-lasting and least-expensive approved hormonal IUD. Also, the IUD is available at the lowest Wholesale Acquisition Cost (WAC) of any IUD in the U.S
  • December 2019: Prasco Laboratories launched generic version of NuvaRing, the etonogestrel/ethinyl vaginal ring manufactured by Merck & Co., Inc.


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Cost-efficiency and Easy Availability of Contraceptive Products to Promote Market Growth

The increasing cases of sexually transmitted diseases such as HIV/AIDS is a prime factor promoting the hormonal contraceptives market growth. Besides this, the cost efficiency and easy availability of contraceptives products such as pills, is also helping the market gain traction.

Moreover, the fact that contraceptives are a better and reliable way of controlling unwanted pregnancy as compared to diaphragms/sponges or condoms is also expected to help increase the overall hormonal contraceptive market size in the forecast period.

Furthermore, the advent of new user-friendly and cost-efficient products into the market, such as contraceptive implants, vaginal rings, and injectable, are likely to help increase the overall hormonal birth control market revenue in the coming years.


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Increasing incidences of Unwanted Pregnancies Among Teenagers – Reason behind North America’s Dominance

From a geographical perspective, the global hormonal birth control market is widespread in Latin America, North America, Asia Pacific, North America, and Europe. Among these, North

America accounted for the largest hormonal contraceptives market share with a revenue generation of US$ 5.8 Bn in 2018. This is attributed to the presence of major manufacturing companies coupled with the rise in awareness about different birth-control methods in the U.S.

Besides this, the rising incidences of unwanted pregnancies among teenagers are also anticipated to help North America earn a promising hormonal contraceptive market share in the forecast duration as well.


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Companies Offering Range of Contraceptive Products to Intensify Market Competition

Current hormonal birth control market manufacturers are focusing on the launch of new and user-friendly products to gain a competitive edge in the overall market. For this, players are investing huge sums into research and development of novel contraceptive products.

Currently, Merck & Co, is dominating the market on account of two of their supernova products, namely Nexplanon/Implanon and Nuvaring. Following Merck & Co. is Bayer AG, which is famous for its range of intrauterine devices apart from the range of contraceptive pills. As per a lead analyst at Fortune Business Insights™, the range of products from Mirena, consisting of 3 intrauterine devices, earned a revenue of USD 1,143 million in the year 2018.


Significant Players of the Hormonal Contraceptives Market Include:

  • Piramal Enterprises Ltd
  • Novartis AG
  • Teva Pharmaceutical Industries
  • Janssen Pharmaceuticals, Inc.
  • Allergan
  • Merck & Co., Inc.
  • Pfizer, Inc.
  • Mylan N.V.


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Global Hormonal Contraceptives Market Segmentations:

By Product

•              Pills

•              Injectable

•              Implants

•              Vaginal Ring

•              Intrauterine Devices

•              Others

By Distribution Channel

•              Hospital Pharmacy

•              Retail Pharmacy

•              Online Channel

•              Public Channel & NGOs

•              Others

By Geography

•              North America (the U.S. and Canada)

•              Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

•              Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)

•              Latin America (Brazil, Mexico, and the Rest of Latin America)

•              Middle East and Africa (South Africa, GCC, and the Rest of Middle East & Africa)


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SECONDARY DATA SOURCES THAT WE REFER TO:

  • Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
  • Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
  • Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
  • Industry journals and paid databases

SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

  • Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
  • Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
  • Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
  • Number of procedures and average price of procedures
  • Replacement rate and pricing of capital equipment
  • Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
  • Market & technological trends, new product developments, product pipeline.


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