The global Combined Hormonal Contraceptive Market, which are methods of birth control that act on the endocrine system, was valued at USD 22.64 billion in 2022. It is projected to reach USD 37.93 billion by 2032, exhibiting a rapid compound annual growth rate (CAGR) of 5.9% during the forecast period. The market growth is primarily driven by factors such as increasing awareness about family planning, urbanization, and the rising prevalence of unintended pregnancies.
The need for effective birth control methods has been a significant driver for market revenue growth. Unintended pregnancies can have adverse effects on women's health, education, and economic status, particularly in developing countries. This has led to a growing demand for hormonal contraceptives in these regions. Furthermore, the availability of hormonal contraceptives in various forms, including pills, patches, injections, and vaginal rings, has contributed to increased usage. These different forms offer women a range of options to choose from based on their individual needs and preferences. Additionally, the development of new hormonal contraceptive products with improved efficacy and safety profiles has been instrumental in driving market growth.
The adoption of hormonal contraceptives among women in developed countries is also a significant factor contributing to market revenue growth. With a focus on careers and delayed childbirth, women in these countries have a higher demand for effective birth control methods.
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The Combined Hormonal Contraceptive Market can be categorized into two types: progestin-only contraceptives and combination hormonal contraceptives. These methods act on the endocrine system to prevent unwanted pregnancies. Favorable government initiatives and policies promoting the use of hormonal contraceptives have increased their adoption, particularly among women in rural and remote areas. Technological advancements and the development of new formulations with improved efficacy and fewer side effects, such as low-dose hormonal contraceptive pills and Long-Acting Reversible Contraceptives (LARCs) like Intrauterine Devices (IUDs), have further driven market growth.
However, the high cost of hormonal contraceptives and the availability of alternative birth control methods, such as condoms and non-hormonal contraceptives, could restrain market revenue growth. Additionally, the side effects associated with hormonal contraceptives, such as weight gain and mood changes, pose another challenge to market expansion.
In terms of market segmentation based on type, the pills segment accounted for the largest revenue share in 2022. Oral contraceptive pills are widely popular among women globally due to their ease of use, high efficacy, and reversibility of effects. Various government initiatives and family planning programs have increased awareness and accessibility of these pills, further driving demand and revenue growth.
The injections segment is expected to exhibit the fastest revenue growth rate during the forecast period. Women's preference for long-acting and reversible contraceptive methods has contributed to the increasing popularity of hormonal contraceptive injections. These injections offer high efficacy, convenience, and long-acting effects, with some formulations providing protection for up to three months. Their availability and accessibility through healthcare facilities and family planning programs are expected to drive revenue growth in this segment.
The vaginal rings and transdermal patches segments are also projected to witness a significantly large revenue share during the forecast period. These methods offer ease of use, convenience, and long-acting effects. Vaginal rings, when inserted into the vagina, provide a continuous release of hormones, while transdermal patches, when applied to the skin, offer steady hormone delivery. These non-oral methods are suitable for women who prefer alternative forms of contraception and may be more effective than traditional barrier methods like condoms. Increasing availability and accessibility through healthcare facilities and family planning programs are expected to drive demand and revenue growth in these segments.
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Key Players Operating in Combined Hormonal Contraceptive Market
- Bayer AG
- Merck Co., Inc.
- Pfizer, Inc.
- Allergan plc
- Agile Therapeutics, Inc.
- Mylan N.V.
- Afaxys, Inc.
- Reckitt Benckiser Group plc
- CooperSurgical, Inc.
- Teva Pharmaceutical Industries Ltd.
- Janssen Pharmaceuticals, Inc.
- Ferring Pharmaceuticals, Inc.
- Mithra Pharmaceuticals S.A.
- HRA Pharma
- Syzygy Healthcare plc
The global Combined Hormonal Contraceptive Market has been segmented as follows:
Type Outlook (Revenue, USD Billion; 2019-2032)
- Pills
- Injections
- Vaginal Rings
- Transdermal Patches
- Others
Hormone Outlook (Revenue, USD Billion; 2019-2032)
- Combination Hormonal Contraceptives
- Progestin-Only Hormonal Contraceptives
Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- A.E.
- South Africa
- Israel
- Rest of MEA
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