Hormonal Contraception is a type of pregnancy prevention technique acting on the endocrine system using various female hormones to prevent ovulation. Synthetic forms of hormones such as progestin and estrogen are used to prevent ovulation and avoid fertilization by altering the environment of the uterus. Hormonal contraceptives are available in various forms such as patches, injection, pills, Intrauterine Devices (IUD), etc.
The global hormonal contraceptive market was USD 18.28 billion in 2018 and is estimated to reach USD 23.83 billion by 2025 at a CAGR of 3.86% during the forecast period
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Growth by Region
North America dominated the market owing to increasing awareness towards the benefits of using hormonal contraceptive, favourable regulatory scenario, higher awareness about sexual health and high prevalence of unwanted pregnancy. Asia-Pacific will witness the highest CAGR during the forecast period due to the presence of highly populated countries like India and China, where there is a greater need to control the growing population. Other factors which supplement the growth include introduction of new female contraception devices, rise in investment by market players, large fertile population and strong economic growth
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Drivers vs Constraints
The factors that drive the growth of the hormonal contraceptive market include increase in awareness about modern contraception methods, increasing significance of family planning, increasing investments by market players to develop innovative devices and supportive government regulations. Also, the implementation of temporary and low cost contraceptive practices instead of permanent contraception is the vital factor driving global market for hormonal contraception market. Some of the factors that hamper the growth of the market include health risks associated with the use of contraceptives, availability of alternate contraceptive methods, and the lack of social acceptance.
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Industry Trends and Updates
In August 2018, Lupin launched Ethinyl Estradiol, Drospirenone, and Levomefolate Calcium tablets in the US market which are used to prevent pregnancy. In June 2018, Glenmark Pharmaceuticals received the final approval from the US health regulator for generic versions of Loestrin tablets which are used to prevent pregnancy. In March 2017, TEVA launched the generic version of Minastrin 24 Fe-ethinyl estradiol & norethindrone acetate tablets and ferrous fumarate tablets. In February 2017, Medicines 360 and Allergan announced partnership with health centers to help address unintended pregnancies in areas such as Puerto Rico and Florida. The partnership has helped in increasing access to a hormonal contraceptive of the company in the region