The global hormonal contraceptive market size is expected to reach USD 21.1 billion by 2026, based on a new report by Grand View Research, Inc. It is projected to register a CAGR of 3.8% during the forecast period. Introduction of innovative products and growing awareness about reproductive and sexual health in emerging regions are likely to drive the growth.
Pill,
Intrauterine Devices (IUD), injectable, vaginal rings, implants, and patches
are various methods used for hormonal contraception. Hormonal contraception
methods act on the endocrine system to prevent ovulation. Increasing number of
women in developing economies are using contraceptives due to the rise in
government initiatives and programs. This factor is anticipated to accelerate
the market growth. For instance, according to the UN, approximately 64.0% of
women between 15 and 49 years of age were using some form of family planning in
2015, be it traditional or modern. This figure stood at 36.0% in 1970.
The
number of unintended pregnancies is the highest in U.S., which is about 3
million annually. Hence, the Center for Medicaid and CHIP Services (CMCS)
established a Maternal and Infant Health Initiative for the Medicaid and
Children’s Health Insurance Program (CHIP) to promote use of effective methods
of contraception and help women avoid such pregnancies.
IUD
segment is expected to witness the fastest growth during the forecast period,
attributed to the entry of new devices, availability of long-acting reversible
birth control methods, and more than 99.0% effectivity. For instance, in September
2016, Allergan and Medicines360 launched new LILETTA, a
levonorgestrel-releasing intrauterine system in U.S. The device is a single
handed inserter and for use by women to prevent pregnancy for up to three
years.
Full Research Report On Hormonal Contraceptive Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/hormonal-contraceptive-market
Further key
findings from the study suggest:
- High demand
for contraceptive methods can be attributed to rising awareness about
pills and devices, significance of family planning, and presence of
supportive government policies improving access to these products
- In 2018,
pills accounted for the largest market share as these product are
convenient to use and exhibit more than 99.0% effectivity when accurately
consumed. Furthermore, ease of availability, fewer adverse effects, and
presence of a large number of players can be contribute to this growth
- North America
held the largest market share in 2018 and is anticipated to maintain its
dominance during the forecast period due to the presence of major market
players, high per capita income, and supportive government initiatives
- Asia Pacific
is estimated to witness the fastest growth in the forthcoming years due to
high unmet need, expected increase in coverage in the next 15 years, and
increasing number of women in their reproductive age
- Some of the
key players operating in the hormonal contraceptive market are Teva
Pharmaceuticals Industries Ltd.; Bayer AG; Merck & Co. Inc.; Pfizer;
Afaxys, Inc.; Agile Therapeutics; Allergan; and Apothecus Pharmaceutical
Corporation
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/hormonal-contraceptive-market/request/rs1
Grand View Research has
segmented the global hormonal contraceptive market by method and region:
Hormonal
Contraceptive Method Outlook (Revenue, USD Million, 2015 - 2026)
- Pill
- Intrauterine Device (IUD)
- Patch
- Implant
- Vaginal Ring
- Injectable
Hormonal
Contraceptive Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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