Hormonal Contraceptive Industry Market Research Report
Introduction
The hormonal contraceptive market is expected to grow at a CAGR of XX% during the forecast period. This is mainly due to the increasing awareness about the benefits and the declining cost of contraceptives. The contraceptive market is segmented on the basis of type, product, and region. Types of Hormonal Contraceptives There are three types of hormonal contraceptives viz. combined oral contraceptives, implants, and injections. Combined Oral Contraceptives (COCs) COCs are the most popular hormonal contraceptives used by women. They are available in various formulations such as ring, patch, and pill. COCs are a combination of two female hormones
– estrogen and progestin. These hormones work together to prevent ovulation and fertilization. Some of the popular brands of COCs are Yaz, Loestrin FE, and Ortho Tri-Cyclen Lo. Implantable Hormonal Contraceptives (IHCS) IHCS are devices that are inserted under the skin in the arm. They are available in two types
– subdermal and transdermal. IHCS provide long-term contraceptive protection by releasing a small amount of hormone continuously over a period of
3 years or
10 years. The most popular IHCS brands are Implanon and Nexplanon. Injectable Hormonal Contraceptives (IHCP) IHCPs are injectable products that release a small amount of hormone directly into the bloodstream. They are used as a long-term contraceptive option for women who cannot take oral contraceptives or who have problems with side effects such as weight gain or acne. IHCPs are available in three types
– Depo-Provera, Duraglide, and Evra. Product Type The product type is segmented into pills, rings, patches, injections, implants, subdermal systems, and transdermal systems. Pills Pills are the most popular type of hormonal contraception among women. They are available in different dosages and formulations such as Yaz, Loestrin FE, Ortho Tri-Cyclen Lo, and others. These pills contain two female hormones
– estrogen and progestin. They work by preventing ovulation and fertilization by stopping the release of eggs from the ovaries. Some of the popular brands of pills are Yasmin, Loestrin FE, Ortho Tri-Cyclen Lo, Nordette Tri-Cyclen, Seasonale/Nexplanon/Ortho Tri-Cyclen/Loestrin 20/35/50/60/70/75/80/85/90/91, Uniphylleptine/Ortho Tri-Cyclen Female Hormone Patch System with Evra Shield, Seasonale/Nexplanon/Ortho Tri-Cyclen Female Hormone Patch System without Evra Shield etc. Rings Rings are inserted into the vagina to prevent pregnancy. They work by stopping the sperm from reaching the egg and preventing fertilization. Some of the popular brands of rings include NuvaRing (NuvaRing), Ortho tri-cyclen ring (Ortho Tri-cyclen Ring), Marvelon (Marvelon), Okamoto ring (Okamoto Ring), Yasmin ring (Yasmin Ring). Patches Patches are thin pieces of plastic that you apply to your skin like a bandage. Patches contain estrogen and progestin hormones that work together to prevent ovulation and fertilization by stopping the release of eggs from the ovaries. Some of the popular brands of patches include Ortho Evra patch (Ortho Evra), Ortho tri-cyclen patch (Ortho Tri-cyclen Patch), NuvaRing patch (NuvaRing Patch), Seasonale patch (Seasonale Patch), Yaz patch (Yaz Patch). Injections Injections are a type of hormonal contraception that releases a small amount of hormone directly into your bloodstream through an injection in your arm or leg. This hormone prevents ovulation and fertilization by stopping the release of eggs from the ovaries. Injections are available in three types – Depo-Provera injections (Depo-Provera Injections), Duraglide injections (Duraglide Injections), Evra injections (Evra Injections). Transdermal systems Transdermal systems release hormones through a thin layer of skin on your body. This layer absorbs hormones slowly into your bloodstream which results in continuous exposure to these hormones over a period of time which helps in providing long-term contraceptive protection against pregnancy. The most popular transder
Market Dynamics
The hormonal contraceptive market is witnessing a significant growth owing to various factors such as increasing awareness about the benefits of using contraception, changing lifestyle, and rising concerns about health. The market is expected to grow at a CAGR of XX% between 2019 and 2030. The major players in this market are Altria Group (US), Bayer AG (Germany), BHP Billiton Ltd. (Australia), GlaxoSmithKline plc (UK), Janssen Pharmaceuticals, LLC (US), Merck & Co., Inc. (US), Novartis AG (Switzerland), and Pfizer Inc. (US). The hormonal contraception market is segmented on the basis of product type and end user. The product type segment is further divided into oral contraceptives, injectables, and transdermal patches. The end users are women, men, and adolescents. The oral contraceptives segment is expected to dominate the market in terms of revenue during the forecast period. This is due to the increasing trend of using oral contraceptives over other types of contraceptives such as injectables and transdermal patches. The injectables segment is expected to grow at a slower rate than the other two segments due to the higher cost associated with this type of product. The major regions driving the growth of the hormonal contraceptive market are North America, Europe, Asia Pacific, and Latin America. North America is expected to account for the largest share of the market in terms of revenue during the forecast period owing to the high population base and increasing trend of using contraception. Europe is anticipated to grow at a higher rate than other regions owing to rising awareness about the benefits of using contraception and increasing demand from the pharmaceutical industry in this region. Asia Pacific is expected to be the fastest growing region due to increasing demand from developing countries such as China and India.
Market Drivers
The hormonal contraceptive market is growing rapidly as women seek to have more control over their reproductive health. The contraceptive market has been segmented into the following types: reversible, non-reversible, and long-acting reversible contraception (LARC). Non-reversible contraceptives, such as the pill, are the most commonly used type of hormonal contraceptive and are the most effective. However, they are also the most expensive and can be difficult to use correctly. Reversible contraceptives, such as implants and IUDs, are less effective than non-reversible contraceptives but are cheaper and easier to use. LARCs are the most expensive type of hormonal contraceptive but are also the most effective. They are also the least common type of hormonal contraceptive.
Market Restraints
, Emerging Opportunities, and Future Trends The hormonal contraceptive market is segmented on the basis of type, application, and region. The market is further segmented into oral contraceptive, injectable contraceptive, and intrauterine device. The oral contraceptive segment is the largest and is expected to grow at a higher CAGR. This is mainly due to the increasing awareness of the importance of contraception and the increasing uptake of hormonal contraceptive by women. The injectable contraceptive segment is expected to grow at a higher CAGR owing to the increasing preference for this type of contraception owing to its convenience and low-risk profile. The intrauterine device segment is expected to grow at a lower CAGR owing to the high adoption rates of this type of contraception among women. Restraints The key restraints for the market include high cost, lack of awareness about hormonal contraceptive, and lack of legislation supporting hormonal contraception. Emerging Opportunities The key opportunities for the market include increasing uptake of hormonal contraceptive by women, increasing awareness about hormonal contraceptive, and increasing adoption rates of hormonal contraception. Future Trends The key future trends for the market include increasing use of hormonal contraception among women across all age groups, increasing use of injectable contraception among women, and increasing use of intrauterine devices among women.
Market Opportunities
The hormonal contraceptive market is expected to grow at a CAGR of XX% over the next ten years. This growth can be attributed to the increasing awareness about the benefits of contraception and the increasing popularity of hormonal contraceptives among women. There are several factors that are expected to drive the growth of the hormonal contraceptive market. These include the increasing number of women who are opting for contraception as well as the increasing preference among women for hormonal contraceptives over other types of contraceptives. The hormonal contraceptive market is expected to be dominated by two major players—GlaxoSmithKline and Merck & Co., Inc. These companies are expected to account for over half of the market share by 2030. The major reason for this dominance by these companies is their wide product portfolio, which includes both female and male contraceptives. Another reason for their dominance is their strong marketing capabilities. One of the key challenges that the hormonal contraceptive market faces is the lack of awareness about its benefits among women. This is expected to impede the growth of the market in the coming years. However, this challenge can be overcome through effective marketing campaigns that focus on educating women about the benefits of using hormonal contraceptives.
Market Challenges
The hormonal contraceptive market is rapidly growing with many new products entering the market. However, the market is facing some challenges such as unmet need and health concerns. The unmet need for hormonal contraception is mainly due to the lack of awareness about the benefits of using contraceptives among women. Health concerns regarding hormonal contraception include the risk of cancer and other side effects. Nevertheless, the market is expected to grow at a CAGR of XX% over the next seven years. This is mainly because of the increasing use of hormonal contraceptives by women in developed countries.
Market Growth
The hormonal contraceptive market is projected to grow at a CAGR of XX% during the forecast period. The fastest growing market is in North America, followed by Europe. Asia Pacific is expected to grow at a slower rate, owing to the high penetration of contraceptives in this region. The hormonal contraceptive market is segmented on the basis of product type, formulation, and region. The product type segment is further divided into oral contraceptive and injectable contraceptive. The oral contraceptive product type dominates the market and is expected to account for more than two-thirds of the market share by 202
3. Injectable contraceptives are expected to grow at a faster rate than oral contraceptives in the near future. The major players in the hormonal contraceptive market are Pfizer Inc., GlaxoSmithKline plc., Merck & Co., Inc., and Johnson & Johnson. These companies are engaged in various marketing strategies such as developing new products, acquisitions, and collaborations.
Key Market Players
Some of the key market players in the hormonal contraceptive market are Johnson & Johnson, Bayer, GlaxoSmithKline, and Merck. These companies are primarily engaged in the development and production of hormonal contraceptives. Other major players in the market include Teva Pharmaceuticals, Amgen, and Eli Lilly & Company.
Market Segmentation
The hormonal contraceptive market is segmented as follows: Hormonal Contraceptives for Men Hormonal Contraceptives for Women The hormonal contraceptives for women market is expected to grow at the highest rate during the forecast period. This is mainly driven by increasing awareness about the benefits of hormonal contraceptives and increasing preference for newer, more effective contraceptives. In terms of geography, the North America region is expected to account for the largest share of the market in 20
1
7. However, the Asia-Pacific region is expected to grow at a faster rate, due to increasing uptake of hormonal contraceptives in this region. The market is also segmented on the basis of type of product. The oral contraceptive products are expected to account for the largest share of the market in 20
1
7. However, progestin-only contraceptives are expected to grow at a faster rate in the near future.
Recent Developments
The hormonal contraceptive market was valued at $XX Billion in 2018 and is expected to grow to $XX Billion by 2030 with a CAGR of XX%. Various factors are driving the market growth such as increasing awareness about contraception and its various benefits, increasing preference for non-hormonal contraceptives, and increasing demand for more affordable and convenient contraceptives. Some of the major players in the hormonal contraceptive market are Pfizer, Bayer, Merck, and Eli Lilly. These companies are focused on different segments of the market, such as contraceptives for women, contraceptives for men, and fertility control products. Some of the key trends in the hormonal contraceptive market are increasing adoption of long-acting contraceptives such as injectable contraceptives and implants, increasing uptake of male contraceptives, and increasing use of combo packs of hormonal contraceptives.
Conclusion
The hormonal contraceptive market is expected to be worth $XX Billion by 2030, with a CAGR of XX%. The market is growing at a rapid pace, and there is a lot of potential for growth. Some of the main reasons for this are the increasing demand for safe and reliable contraception, as well as the increasing awareness of the importance of contraception. Additionally, technological advancements are also contributing to the growth of the hormonal contraceptive market.
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