Hormonal Contraceptives Market

Global Hormonal Contraceptives Market Size (2024 to 2029)

The global market size for hormonal contraceptives is predicted to be worth USD 20.89 billion by 2029 from USD 16.77 billion in 2024, growing at a CAGR of 4.49% from 2024 to 2029.

MARKET DRIVERS AND RESTRAINTS

The COVID-19 effect on the hormonal contraceptive market is negative due to the decrease in family planning and the need to prevent unintended pregnancy during the pandemic.

Hormonal contraceptives are mainly used in family planning. For instance, in 2020, according to the UNFPAs, family planning activities primarily decreased by 3.7% compared to the previous year in COVID-19. The lockdown and other rules are followed by people to prevent the spread of the virus. As a result, the manufacturing of contraceptives is being reduced, according to the International Planned Parenthood Federation. In most developing countries, due to COVID-19, 47 million women were discouraged from using contraception, resulting in seven million unintended pregnancies, according to a United Nations Population Fund report. Telehealth services and virtual consultations were advised for contraceptive screening and counseling. As a result, the market will regain its growth in the post-pandemic.

Preventing unintended pregnancy, increasing insurance policies, and Y-O-Y rise in the prevalence of sexually transmitted diseases are expected to fuel the growth of the hormonal contraceptive market.

Preventing unplanned pregnancy and user awareness is projected to boost market growth over the forecast period. About 75 million women in developed and developing countries have unintended pregnancies annually, leading to 25 million unsafe abortions and 47000 maternal deaths, per World Health Organization (WHO).

Girls in underdeveloped nations do not frequently have access to modern birth control, which increases the likelihood of unintended pregnancy or abortion. As a result, the rising demand for contraceptives is projected to fuel market growth. According to the Patient Protection and Affordable Care Act, all FDA-approved contraceptive methods must be covered by insurance. To help girls, the federal and state governments also provide compensation for family planning products and services. They also lower the risk of anemia, which can cause weakness and exhaustion in certain women due to significant menstrual blood loss. These factors are fuelling the market's expansion. 

Major factors that drive the growth of the global hormonal contraceptive market include an increase in focus on family planning, increasing R & D activities, and increasing government and NGO initiatives to promote contraceptive advancements in hormonal contraception with better efficacy. In addition, health issues associated with teenage pregnancies, increased awareness regarding modern contraception methods, and increased use of oral pills to prevent unplanned pregnancy is predicted to drive market growth in coming years.  Furthermore, there are opportunities in the market because of steps taken by the relevant government to increase awareness about its use and affordable contraception methods as opposed to permanent contraception procedures, as well as an increase in the number of gynecologists who prefer these contraception devices for birth control.

However, the availability of alternate contraceptive methods, the longer drug approval time, and injectable side effects restrict the hormonal contraceptive market growth.  In addition, the side effects of the medicine and the lack of social acceptance of hormonal contraceptives are the significant factors that are expected to hinder the growth of the global hormonal contraceptives market. Side effects include headache, nausea, sore breasts, vaginal yeast infections, and risk of blood clot fomation, which is higher in women above 40.

REPORT COVERAGE

SEGMENTAL ANALYSIS 

Global Hormonal Contraceptives Market Analysis By Product

Based on the product, the oral contraceptive pills segment is expected to lead the market during the forecast period. The segment's dominance can be credited to the high awareness about pills, simple mode of administration, easy availability of a wide range of products, presence of various significant market players, and high efficiency of about 99% on timely consumption.

Global Hormonal Contraceptives Market Analysis By Hormone

Based on the hormone, the combined hormonal contraceptive segment held a significant share of the market in 2022 and is anticipated to do so during the forecast period. Because combined hormonal contraceptives are widely available and more effective at preventing conception, this segment is expected to increase rapidly.

Global Hormonal Contraceptives Market Analysis By Age Group

Based on the age group, the 15-24 age group segment is estimated to witness a significant share in the hormonal contraceptive market during the forecast period. This is due to the rise in the adoption of emergency contraceptive pills among adults, an increase in awareness of hormonal contraceptives, and an increase in issues about adolescent sexual activity, precisely owing to premarital and unplanned pregnancies often leading to premature abortion.

Global Hormonal Contraceptives Market Analysis By End-User

Based on the end-user, the home care segment accounted for the leading share of the hormonal contraceptives market in 2022. Due to the widespread usage of oral pills to prevent unintended pregnancy. Additionally, health-related outcomes, including maternal and newborn mortality, have improved because of the increased use of contraceptives at home.

REGIONAL ANALYSIS 

Geographically, the North American region registered the most dominant share of the global hormonal contraceptives market in 2022 owing to factors such as the strong presence of key market players, increasing government initiatives, higher awareness about sexual health, and many unintended pregnancies. In addition, in the countries like the United States and Canada, women are delaying motherhood with the help of contraceptive methods used by women for delaying motherhood as they prioritize their careers. Women are delaying motherhood with the help of contraceptive methods for delaying motherhood as they prioritize their careers. This is one of the factors driving the market forward.

Europe held the second-largest share of the global hormonal contraceptives market in 2022, which is anticipated to account for a significant share during the forecast period. Favorable reimbursement initiatives, a rising number of product launches, and emerging markets such as Germany, the U.K., and France strengthen the European market growth. 

The Asia Pacific is estimated to grow faster during the forecast period. Factors such as a fertile population, increasing investment by government and private organizations and improving infrastructure boost market growth. In addition, the introduction of new female contraceptive devices and strong economic growth factors support market growth. In 2016 China government allowed only two children per couple according to the family planning policy in China. Women must take an intrauterine contraceptive device (IUD) surgically installed after having a first child and undergo tubal ligation after having a second child. As a result, China's nearly 667 million women are necessary consumers of the contraceptive market.

KEY PLAYERS IN THE GLOBAL HORMONAL CONTRACEPTIVES MARKET

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. are some of the notable companies operating in the global hormonal contraceptives market profiled in this report.

RECENT HAPPENINGS IN THIS MARKET

• In 2021, Cooper Companies announced the acquisition of Generate Life Sciences, a privately held leading donor egg and sperm provider for fertility treatments, fertility cryopreservation services, and newborn stem cell storage.
• U.S. Food and Drug Administration (FDA) approved NEXTSTELLIS (3 mg drospirenone [DRSP] and 14.2 mg estetrol [E4] tablets) for the prevention of pregnancy in 2021, as per Mayne Pharma.

DETAILED SEGMENTATION OF THE GLOBAL HORMONAL CONTRACEPTIVES MARKET INCLUDED IN THIS REPORT

This research report on the global hormonal contraceptives market has been segmented and sub-segmented based on the product, hormones, age group, end-user & region.

By Product

• Oral Contraceptives Pills
• Skin Patches
• Intrauterine Devices
• Hormonal Implants

By Hormone

• Progestin-only Contraceptive
• Combined Hormonal Contraceptive

By Age Group

• 15-24 Years
• 25-34 Years
• 35-44 Years
• Above 44 Years

By End-User

• Hospitals and Clinics
• Homecare
• Ambulatory Surgical Centers

By Region

• North America
• Europe
• Asia-Pacific
• Middle East Africa
• Latin America