increase in unplanned pregnancies is driving the Hormonal Contraceptives Market
Technavio analyzes that the Hormonal Contraceptives Market is expected to grow at a CAGR of 4.2% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4350.8 million.There are various factors that contribute to the growth of the market. The unplanned pregnancy rate has been on the rise, leading to a significant demand for effective contraceptive methods. Hormonal contraceptives, with their proven efficacy in preventing pregnancies, continue to be a popular choice among women. These medications inhibit the release of ovulatory hormones or thicken cervical mucus to prevent sperm from reaching the egg, thereby reducing the likelihood of unintended pregnancies. The hormonal contraceptives market is expected to grow as more women seek reliable methods to plan their families.
The hormonal contraceptives market encompasses solutions that utilize synthetic hormones, primarily progesterone and estrogen, to prevent ovulation and fertilization. The oral contraceptives segment dominates this market, with combined hormonal pills, which incorporate both progestin and estrogen, being the most popular choice due to their efficacy, convenience, and availability in diverse formulations, including monophasic, biphasic, and triphasic pills. Factors fueling the expansion of this segment include expanding awareness and approval of family planning methods, escalating disposable incomes, and enhanced healthcare access in developing economies. North America spearheads the market, bolstered by a robust healthcare infrastructure and heightened consumer consciousness.
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Hormonal Contraceptives Market Segmentation
As per our research findings, here are some of the key competitors that are leading the industry
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The hormonal contraceptive market encompasses various forms of birth control that utilize synthetic Progestin and Estrogen to prevent pregnancy. These hormones work by inhibiting ovulation, thickening cervical mucus, and preventing fertilized eggs from implanting. Unintended pregnancies are reduced through oral contraceptive pills, injectable birth control, emergency contraceptive pills, vaginal rings, patches, progestogen injectables, intrauterine devices (IUDs), implants, and over-the-counter (OTC) options. Long-acting contraceptives like IUDs and implants offer extended protection against HIV as well. The endocrine system is manipulated to prevent fertilization, with the hormones acting on the reproductive system and the HIV protection being an added benefit. The hormonal contraceptive market includes a range of contraceptive devices, with combination hormonal contraceptives containing both Progestin and Estrogen, and progestin-only contraceptives relying solely on Progestin. Synthetic hormones are used to regulate the menstrual cycle and prevent pregnancy.
The hormonal contraceptives market encompasses businesses involved in the research and development (R&D) or production of various forms of hormonal contraceptives, including oral contraceptive pills containing Progestin and Estrogen, as well as injectable birth control. According to Technavio, the global pharmaceuticals market, which includes the revenue generated by manufacturers and providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services, is expected to grow significantly due to demographic shifts, with the aging population being a key driver. By 2050, approximately one-quarter of the US population and by 2030 in Europe, are projected to be over the age of 60 years. This demographic trend will increase the demand for healthcare solutions, including hormonal contraceptives, to address health concerns associated with aging, such as unintended pregnancies, ovulation, and cervical mucus changes. Consequently, the market for hormonal contraceptives is poised for substantial expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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