HORMONAL CONTRACEPTIVES MARKET ANALYSIS

Hormonal contraceptives contain a progestin (progesterone medicine) with or without an estrogen. Both progestin and estrogen are manufactured in a laboratory and are similar to the hormones naturally produced by all women. These two hormones are used together, or the progestin alone, to prevent pregnancy in various ways such as preventing ovulation (release of eggs), thickening the mucus around the cervix (mouth of the uterus), preventing sperm from entering the uterus (uterus), or they thin the inner wall of the uterus (uterus) to prevent the attachment of fertilized eggs.

The global hormonal contraceptives market is estimated to be US$ 15,232.2 Million in 2021 and is expected to reach US$ 18,577.6 million by 2028, at a CAGR of 2.9% during the forecast period (2021 –2028).

Figure 1. Global Hormonal Contraceptives Market Value (US$ Mn) & Y-o-Y Growth (%)

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The increasing number of unintended pregnancies is expected to drive the market growth over the forecast period.

Increasing number of unintended pregnancies is expected to boost the growth of global hormonal contraceptives market during the forecast period. As per a publication in PubMed, the number of unintended pregnancies in the U.S are around three million annually. Hence, a Maternal and Infant Health Initiative was established by the Center for Medicaid and CHIP Services (CMCS) for the Medicaid and Children’s Health Insurance Program (CHIP) to promote use of effective methods of contraception and help women avoid such pregnancies.

Figure 2. Global Hormonal Contraceptives Market Share (%), by Hormone, 2021

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Global Hormonal Contraceptives Market – Regional Analysis:

North America is anticipated to dominate the global market during the forecast period due to the presence of major market players, high number of unintended pregnancies, high per capita income, and increasing government initiatives. The developed countries in Europe such as the U.K. and Germany have deep-rooted healthcare infrastructure and high awareness concerning hormonal contraception which is expected to boost regional growth. Asia Pacific is estimated to witness rapid growth in the upcoming years due to increasing number of women in their reproductive age and due to high unmet needs.

Global Hormonal Contraceptives Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it as a public health emergency in 2020. According to the Coronavirus Disease (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported in the U.S. as of July 28, 2021 are approximately 195,266,156 with around 4,180,161 deaths. The Coronavirus or COVID-19 outbreak started from Wuhan, China and has spread across continents, affecting various industries globally. Globally, reproductive health services such as contraception and abortion services are either shut down or not accessible. According to report published by the International Planned Parenthood Federation, the anticipated shortages of contraception as lockdown and measures put in to curtail the pandemic lead to a reduction in the manufacturing of contraceptives. The United Nations Population Fund (UNFPA) technical note estimated that due to measures taken for COVID-19 containment, about 47 million women in 114 low- and middle-income countries, including India, will not be able to use contraception and this would result in seven million unintended pregnancies.

Global Hormonal Contraceptives Market: Restraint

The side effects associated as well as lack of social acceptance of hormonal contraceptives is the major factors that is 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 clots formation which is higher in women over the age of 40 and in women who smoke, are overweight or have a higher risk of vascular disease in their family.

Key Players

Major players operating in the global hormonal contraceptives market include The Female Health Company, Teva Pharmaceutical Industries Limited, Bayer AG, Pfizer, Inc., Mylan N.V., Johnson & Johnson, Ansell Ltd., Mayer Laboratories, Merck & Co., Inc., Church & Dwight, Co., Inc., Afaxys, Inc., Allergan plc., Agile Therapeutics, Apothecus Pharmaceutical Corporation., Novartis AG, Sun Pharmaceutical Industries Ltd., and Cipla Limited.