Hormonal Contraceptives Market Statistics

Hormonal Contraceptives Market Overview 2030:

The global hormonal contraceptives market size was valued at $ 15,026.23 million in 2020, and is projected to reach $ 20,672.64 million by 2030, registering a CAGR of 3.3% from 2021 to 2030. Hormonal contraceptives are birth control methods, which act on the endocrine system. These methods include use of hormones that are produced normally by women, such as estrogen and progesterone, to prevent ovulation and in turn pregnancy. However, they do not provide protection against HIV or other sexually transmitted infections. There are two types of hormonal contraceptives available in the market, namely, progestin-only contraceptive and combination hormonal contraceptive. Hormonal contraception acts on the endocrine system to prevent unwanted pregnancy.

Synthetic forms of naturally occurring hormones such as progestin and estrogen are used to prevent ovulation and avoid fertilization. These forms of birth control methods also change the environment of the uterus, making it unfavorable for fertilization. They are available in a variety of forms such as patches, pills, injections, and rings, which are safe and reliable forms of hormonal contraceptives to prevent pregnancy.

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Hormonal contraceptive is expected to exhibit significant market growth during the forecast period, owing to increase in focus toward family planning and need for preventing unintended pregnancy. Key factors driving growth of the market growth are attributed to health issues associated with teenage pregnancies, increase in awareness about modern contraception methods, and rise in use of oral pills as a key method to prevent unplanned pregnancy, which propel the market growth. However, availability of alternate contraceptive methods, health risks associated with use of contraceptives, and lack of social acceptance are expected to restrain the hormonal contraceptives market growth.

The global hormonal contraceptives market is segmented on the basis of product, hormone, age group, end user, and region. By product, the market is divided into oral contraceptive pills, injectable birth control, emergency contraceptive pills, vaginal rings, and transdermal patches. On the basis of hormones, it is divided into progestin-only contraceptive and combined hormonal contraceptive. On the basis of age group, it is divided into 15–24 years, 25–34 years, 35–44 years, and above 44 years. By end user, it is divided into hospitals, household, and clinics. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Impact Of Covid-19 On Hormonal Contraceptives Market (Pre And Post Analysis)

Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans.

After its discovery in Wuhan, the disease rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement. Furthermore, the virus has high potential of lethality in geriatric population. On March 11, 2020, the World Health Organization made an assessment that COVID-19 can be characterized as pandemic. In addition, only a few vaccines that received emergency approvals for COVID-19 prevention. Thus, social distancing is observed as the most important measure to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world have adopted nationwide lockdowns.

The overall impact of COVID-19 remains slightly negative on the hormonal contraceptives market, owing to decline in family planning and need for preventing unintended pregnancy in pandemic and these hormonal contraceptives are mainly used in family planning. For instance, according to the UNFPAs in 2020 family planning activities are largely disrupted or declined by 3.6% as compared to previous year in COVD-19, Thus, aforementioned factors led to decline hormonal contraception products.

By Product Segment Review

By product type, the hormonal contraceptives market is divided into oral contraceptive pills, injectable birth control, emergency contraceptive pills, vaginal rings, and transdermal patches. The oral contraceptive pill segment was the major revenue contributor in 2020, and is anticipated to continue this trend during the forecast period, owing due to these pills are easily available and have high success rate of up to 99% to prevent pregnancy. On the other side, the demand for vaginal rings projected to exhibit the fastest market growth during the forecast period, owing to ease of usage and fewer side effects caused by it.