The government initiative to spread awareness towards the benefits of family planning & birth control and the advancement in hormonal contraceptive technologies & methods for the development of products with better efficiency and fewer side effects are the major driving factors that are projected to boost the market growth.
The key players operating in the global hormonal contraceptive 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., and Church & Dwight, Co., Inc.
Other prominent players in the value chain include Reckitt Benckiser Plc., Warner Chilcott Company, BioSante Pharmaceuticals Inc., HLL Lifecare Limited, Boehringer Ingelheim GmbH, Watson Pharmaceuticals, Inc., V-Care Pharma Pvt. Ltd., Vardhman Life Care Pvt. Ltd., Cipla Limited, and others.
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Global Hormonal Contraceptive Market generated $13,924 million in 2016 and is projected to attain $16,018 million by 2023, growing at a CAGR of 1.9% during the forecast period, 2017-2023.North America is the highest contributor in the hormonal contraceptive market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
Rise in global awareness for contraceptives to prevent unwanted pregnancy, technological advancements in contraceptive methods, increased use of oral contraceptives as a preferred method to avoid unplanned pregnancy, and an upsurge in government and NGO initiatives promoting contraceptives drive the growth of the global hormonal contraceptive market. However, lack of social acceptance and health risks associated with the use of contraceptives hamper market growth. Conversely, the rise in disposable income & demand for a healthy life in emerging countries, as well as the presence of large unmet contraceptive needs in those regions, would provide lucrative opportunities to new market players
The report divides the market into hospitals, household, and clinics based on end user, with the hospitals segment contributing the maximum revenue in 2016. North America dominated the global market in 2016, owing to a rise in awareness towards the benefits of using hormonal contraceptive, high incidences of unwanted pregnancy, and favorable regulatory scenario.
However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, due to presence of populace countries such as India and China where there is a greater need to control the growing population.
Based on age group, the market is categorized into 15-24 Years, 25-34 Years, 35-44 Years, and Above 44 Years. The 15-24 years age group segment accumulated the highest revenue in 2016 and is expected to continue dominance throughout 2023.Based on hormone, the report bifurcates the market into progestin-only contraceptive and combined hormonal contraceptive. The market is dominated by the combined hormonal contraceptive segment, as it’s available widely and prevents pregnancy with better efficiency.
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The report segments the global hormonal contraceptive market based on product, hormone, age group, end user, and geography. Based on product, the market is sub-segmented into oral contraceptive pills, injectable birth control, emergency contraceptive pills, vaginal rings, and transdermal patches. Having a high success rate of up to 99%, oral contraceptive pills segment dominated the global market in 2016. However, vaginal rings segment are expected to grow at the fastest rate during the forecast period.
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