Hormonal Contraceptives Market Size, Share, Industry Trends and Forecast to 2030

Hormonal Contraceptives Market Size & CAGR in 2021

The global hormonal contraceptives market is anticipated to grow at a CAGR of 5.2% in 2021, reaching a market size of USD 22.3 billion. The increasing awareness about family planning and the rise in the number of unintended pregnancies are significant factors driving the growth of the hormonal contraceptives market.

COVID-19 Impact on the Hormonal Contraceptives Market

The COVID-19 pandemic has had a mixed impact on the hormonal contraceptives market. While there was a temporary disruption in the supply chain of contraceptives due to lockdowns and restrictions, the pandemic also increased awareness about family planning and the importance of contraception. As a result, there was a surge in the demand for hormonal contraceptives in many regions.

Hormonal Contraceptives Dynamics

The hormonal contraceptives market is driven by factors such as increasing female workforce participation, rising awareness about reproductive health, and the availability of advanced contraceptive technologies. However, challenges such as side effects associated with hormonal contraceptives and cultural barriers in some regions act as constraints to market growth.

Segments and Related Analysis

The hormonal contraceptives market can be segmented based on product type, distribution channel, and region. Product types include combined oral contraceptives, progestin-only pills, contraceptive patches, injections, and intrauterine devices (IUDs). Distribution channels include hospitals, clinics, online pharmacies, and retail pharmacies.

By Region Analysis

The hormonal contraceptives market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest market share due to high awareness about contraception and advanced healthcare infrastructure. The Asia Pacific region is expected to witness significant growth due to increasing initiatives for family planning and rising disposable income.

Key Market Players and Competitive Landscape

Key players in the hormonal contraceptives market include Bayer AG, Pfizer Inc., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., and Allergan. These companies focus on new product launches, collaborations, and strategic partnerships to maintain their market position.

Recent Happenings in the Hormonal Contraceptives Market

In recent years, the hormonal contraceptives market has witnessed several developments, such as the launch of new contraceptive methods, advancements in contraceptive technologies, and increased focus on research and development. For example, the introduction of long-acting reversible contraceptives (LARCs) has gained popularity among women as they offer effective and convenient contraceptive options.