The North America hormonal contraceptives market is expected to grow at significant rates. According to the Center for Disease Control and Prevention (CDC), from 2018 to 2020, 72.2 million U.S. woman aged between 19–49 was using contraceptives. In addition, government initiatives are increasing awareness regarding birth control and growing affordability, which fuels the market growth.
According to a new report published by Allied Market Research, titled, “hormonal contraceptive Market by product type, hormones, age group, end user: global opportunity analysis and industry forecast, 2021–2030,” The global hormonal contraceptives market size was valued at $ 15,026.23 million in 2020, and is projected to reach $ 20,672.64 million by 2030, registering a CAGR of 3.3% from 2021 to 2030.
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On the basis of type, the global hormonal contraceptives market is categorized into oral contraceptive pills, injectable birth control, emergency contraceptive pills, vaginal rings, and transdermal patches. Oral contraceptive pills are expected to dominate the market throughout the forecast period, owing to rise in focus on family planning among people and continuous support from the government. Furthermore, advancements in hormonal contraception such as advent of hormonal patches, implants, and other innovative drug-device combination products fuel the market growth. Moreover, several pharmaceutical companies focus on developing products for treatment of hormonal contraceptive, which is expected to drive growth of the market during the forecast period.
The major companies profiled in the report 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., and Church & Dwight, Co., Inc.
Key Findings Of The Study
By Product type, the oral contraceptive pills segment is expected to experience rapid growth in the hormonal contraceptive market, and is projected to grow at a CAGR of 2.7% from 2021 to 2030
By hormones, combined hormonal contraceptive segment is projected to grow at a CAGR of 2.9% during the forecast period.
By age group, 15-24 segment is expected to experience rapid growth in the hormonal contraceptives market, and is projected to grow at a CAGR of 3.7% from 2021 to 2030
By end user, household segment is projected to grow at a CAGR of 3.6% during the forecast period
Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 4.5% during the forecast period.
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