The Global Hormonal Contraceptives Market, by Product (Oral Contraceptive Pills, Injectable Birth Control, Emergency Contraceptive Pills, Vaginal Ring, and Transdermal Patches), by Hormone (Progestin Only Contraceptive and Combined Hormonal Contraceptive), by Age Group (15–24 Years, 25–34 Years, 35–44 Years, and Above 44 Years), by End User (Hospitals, Homecare, Gynecology Centers, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America), is estimated to be valued at US$ 15,232.2 Million in 2021 and is projected to exhibit a CAGR of 2.9% during the forecast period (2021-2028).
Approval and commercialization of various products, and expanding application of already existing products are the major strategies being adopted by key players to enhance their market share. For instance, in October 2018, Allergan plc., a prominent global pharmaceutical company, and Medicines360, a global nonprofit women’s health pharmaceutical company announced that the U.S. Food and Drug Administration (FDA) approved Medicines360’s Supplemental New Drug Application (sNDA) to extend the use of LILETTA (levonorgestrel intrauterine system release) 52 mg to prevent pregnancy for up to five years.
Global Hormonal Contraceptives Market– Impact of Coronavirus (COVID-19) Pandemic
COVID-19 pandemic has affected various industries globally. The players operating in the global hormonal contraceptives market are facing major challenges on various fronts due to the COVID-19 pandemic. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of critical raw materials to other manufacturers worldwide. Over concerns of supply shortages, the Indian government has now prohibited manufacturers from exporting any products containing progesterone, a critical hormone used in many contraceptives.
According to health management information system (HMIS) data, the provision of preventive services such as family planning is reduced. For instance, the number of first-dose contraceptive injections decreased by 36% (66,112 doses were injected in December 2019 and 42,639 doses were injected in March 2020), while the number of intrauterine device (IUD) insertions increased by 21% (260,615 doses in December) And 205,395 March) in the same period. The distribution of the combined oral pill cycle was also reduced by 12.9%
Browse 51 Market Data Tables and 39 Figures spread through 195 Pages and in-depth TOC on “Global Hormonal Contraceptives Market, by Product (Oral Contraceptive Pills, Injectable Birth Control, Emergency Contraceptive Pills, Vaginal Ring, and Transdermal Patches), by Hormone (Progestin Only Contraceptive and Combined Hormonal Contraceptive), by Age Group (15–24 Years, 25–34 Years, 35–44 Years, and Above 44 Years), by End User (Hospitals, Homecare, Gynecology Centers, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Europe, Asia Pacific, Middle East, Africa, and Latin America) - Forecast to 2028”.
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Key players are focusing on partnerships, collaborations, and agreements to increase their market presence in the global hormonal contraceptives market. For instance, in April 2018, Luye Pharma Group Ltd. acquired the global rights to hormonal contraceptive Apleek from Bayer AG.
Key Takeaways of the Global Hormonal Contraceptives Market:
- The global hormonal contraceptives market is expected to exhibit a CAGR of 2.9% during the forecast period, owing to the increasing product launches. For instance, in March 2017, TEVA released the generic drugs Minastrin 24 ethinyl estradiol and norethindrone acetate tablets and ferrous fumarate tablets, which are used as oral contraceptives in the United States.
- Among product, oral contraceptive pills accounted for the largest market share and is expected to maintain its dominance throughout the forecast period, owing to the simple mode of administration, easy availability of a wide range of products, high awareness about pills due to early market entry compared to long-acting devices, and high efficiency of about 99%.
- Major players operating in the global hormonal contraceptives market include The Female Health Company, Teva Pharmaceutical Industries Limited, Bayer AG, Pfizer, Inc., Mylan N.V., Johnson & Johnson, Ansell Ltd., Mayer Laboratories, Merck & Co., Inc., Church & Dwight, Co., Inc., Afaxys, Inc., Allergan plc., Agile Therapeutics, Apothecus Pharmaceutical Corporation., Novartis AG, Sun Pharmaceutical Industries Ltd., and Cipla Limited.