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Hormonal Contraceptives market size, share, growth
PORTLAND, OR, UNITED STATES, October 7, 2024 /EINPresswire / -- The global hormonal contraceptives market is experiencing steady growth, with a projected value of $20.67 billion by 2030. As birth control methods that regulate the endocrine system, hormonal contraceptives are crucial in preventing unplanned pregnancies. Here's a unique look at the market and its key drivers:
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Market Overview
.Valuation: $15.02 billion in 2020, expected to reach $20.67 billion by 2030.
.Growth Rate: The market is growing at a compound annual growth rate (CAGR) of 3.3% from 2021 to 2030.
Key Market Players
Prominent players driving competition in the hormonal contraceptive market include:
.Bayer AG
.Pfizer Inc.
.Merck & Co. Inc.
.Teva Pharmaceutical Industries
.Johnson & Johnson
.The Female Health Company
Types of Hormonal Contraceptives
There are two main categories of hormonal contraceptives:
1.Progestin-Only Contraceptives: Use progestin, a synthetic form of the hormone progesterone.
2.Combined Hormonal Contraceptives: Contain both estrogen and progestin, commonly found in pills, patches, and vaginal rings.
Market Segmentation
The market is divided based on product type, hormone type, age group, end-user, and region:
1. Product Type:
.Oral Contraceptive Pills: The dominant segment due to high availability and effectiveness.
.Injectable Birth Control: Growing popularity for long-term use.
.Vaginal Rings & Transdermal Patches: Gaining traction for their ease of use and lower side effects.
2. Hormone Type:
.Combined Hormonal Contraceptives: Leading the market due to better efficiency in preventing pregnancy.
.Progestin-Only Contraceptives: Used by women who cannot tolerate estrogen.
3. Age Group:
.15–24 Years: The largest consumer segment due to increasing awareness and access to contraceptives.
.25–34 Years: Significant users, especially for family planning and avoiding unintended pregnancies.
4. End-User:
.Households: The dominant segment, driven by the widespread use of oral contraceptives at home.
.Hospitals & Clinics: Used for guidance and administration of more specialized contraceptive methods.
5. Regional Analysis:
.North America: Leading the market due to high adoption rates, advanced healthcare infrastructure, and governmental support.
.Asia-Pacific: Expected to grow rapidly due to increasing awareness of contraception and expanding healthcare access.
Market Growth Drivers
.Increased Focus on Family Planning: Growing awareness about modern contraceptive methods.
.Rising Use of Oral Pills: Oral contraceptives remain the most popular method due to their high effectiveness.
.Government Initiatives: Programs aimed at reducing teenage pregnancies and providing affordable contraceptive solutions.
Restraints and Challenges
.Health Risks: Some users experience side effects, including blood clots and weight gain, which can deter usage.
.Social and Cultural Barriers: Lack of social acceptance, particularly in developing regions, can slow market penetration.
.Alternative Methods: Non-hormonal contraceptives and natural family planning methods pose competition.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.