Global Hormonal Contraceptive Market is expected to grow at a CAGR of 5.80% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Hormonal Contraceptive Market by Method (Combined Oral Contraceptives, Oral Contraceptives Implanted Contraceptives, Injected Contraceptives, Intrauterine, others), Hormones, End-Users, and Region” and Global Forecast 2018-2025.
As per the report, 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 from 2018-2025. North America is expected to dominate the market during the forecast period. High income, strong presence of major market players, higher awareness about sexual health and large number of unintended pregnancies are some of the major factors driving the growth of the market in region.
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Prominent players operating in the 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. Major firms are incorporating various strategies to increase their market reach. For instance, in September 2016, Bayer Inc. launched Kyleena. It is a new Intrauterine System (IUS), to prevent pregnancy. It is expected to help address the need for long-term contraception in women for up to 5 years. In addition, in February 2017, Medicines 360 and Allergan partnered with health centers to address unintended pregnancies in areas impacted by Zika. This helped in increasing access to a hormonal contraceptive Levonorgestrel-releasing Intrauterine System (LILETTA) of the company in the region. It prevents pregnancy for up to 3 years.
The method segment is classified into combined oral, oral contraceptive, implanted, injected, intrauterine, transdermal patch, and vaginal ring contraceptives. Oral contraceptive segment accounted for 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. Hormones segment is divided into androgens, estrogens, progestrogens, gonadotropins, antiandrogens and others. Increase in prevalence of PCOS, fewer side effects and effective results than progestin contraceptives makes other hormones preferred choice. End user segment is classified into hospitals, homecare, gynecology centers, clinics and ambulatory surgical centers.
Increasing women population globally and to prevent unwanted teenage pregnancies are boosting demand of hormonal contraceptives in forecast period. In addition, rising awareness reading sexual health is also boosting the growth of the 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 market in forecast period.
About the report:
The global hormonal contraceptive market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). 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, and competitor position grid analysis.
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