Product Code: RP-ID-10151800 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10151800
Market Overview:
Global Hormonal Contraceptive Industry Market Research 2022-2030
"In 2021, the global hormonal contraceptives market is estimated to be worth ~USD 17 billion and is expected to grow at a compound annual growth rate of approximately 4% during the forecast period 2022-2030. Increasing awareness of contraceptive methods in emerging economies, investment by major players in the development of innovative equipment, and support for government initiatives to improve product access are the main trends accelerating growth. Partnerships and cooperation in R&D activities and the commercialization of new products are some of the main trends. Key strategies adopted by major players to increase market share. For example, Medicines 360 and Allergan announced in February 2017 a partnership with the Health Center to help resolve unwanted pregnancies in areas affected by the Zika virus, such as Puerto Rico and Florida.
This partnership helps increase access to the intrauterine hormonal contraceptive levonorgestrel release system (LILETTA). )-Companies in the region said they can prevent pregnancy for up to three years. The awareness programs of the government and market participants can help increase demand, thereby increasing the contraceptive market. For example, in July 2015, Teva Pharmaceutical Industry Co., Ltd. launched an education program called "Perfect and Imperfect to raise peoples awareness of emergency contraception. In addition, in September 2015, Allergan announced the establishment of a partnership with the
United States. Women’s Health Alliance (USWHA), an organization focused on promoting affordable, high-quality healthcare services for women. The agreement will make the Allergan intrauterine device LILETTA available to all women in the USWHA healthcare group in the United States. The introduction of long-acting reversible devices is one of the main driving forces for market growth. For example, in September 2016, Bayer launched a new intrauterine birth control system (IUS) Kyleena to prevent pregnancy. Kyleena plans to launch to help address women's long-term contraceptive needs for up to 5 years.
Information about this method:
According to this method, the hormonal contraceptive market has been subdivided into pills, intrauterine devices (IUD), injections, vaginal rings, implants, and patches. In 2020, contraceptives accounted for the largest market share. It is estimated that it will maintain its dominant position throughout the forecast period.
The growth of this market segment can be attributed to the simple and easy-to-use drug delivery method, the easy availability of a wide range of products, the high popularity of the pills due to the earlier entry into the market compared to long-acting devices, and the 99% higher efficiency in timely consumption.
In addition, the presence of several major market participants in this field and the increasing penetration rate in emerging countries are expected to promote the growth of this segment. Due to the increase in adoption rate, the IUD may appear the fastest during the forecast period. increase. Methods of contraception. . Effectiveness of more than 99.0%, longer duration of action, no effect of the device on breastfeeding, and normal fertility after device removal are some of the factors that contributed to the significant growth of this segment.
Regional information:
North America led the global market in 2020 and is expected to maintain its position throughout the forecast period. This can be attributed to high per capita income, strong presence of key market players, increased awareness of sexual health, and a large number of unintended pregnancies. The Asia-Pacific region is expected to witness the fastest growth during the forecast period.
A large number of births, the introduction of new female contraceptive devices, increased investment by market participants, and strong economic growth are the main factors that supplement regional growth. Middle East and Africa market. For example, in May 2013, Merck and its public sector partners expanded the agreement to expand the use of Implanon. According to the agreement, the company will reduce the price of implants and its next-generation drug Implanon NXT (etonogestrel) by approximately 50% in the next 6 years in 70 poor countries. Due to the existence of various generic drugs. The main participants are Allergan; Afaxys, Inc.; Teva Pharmaceutical Industries Co., Ltd.; Bayer AG; Merck & Co.; Pfizer; Agile Therapy; and Apothecus Pharmaceuticals.
The approval and commercialization of various products, the expansion of geographic scope and the expansion of the application of existing products are the main strategies for industry participants to increase their market share. For example, TEVA launched generic drugs Minastrin 24 Fe-ethinyl estradiol and norethindrone acetate tablets and ferrous fumarate tablets in the United States in March 2017, which are used as oral contraceptives in the United States. In October 2018, the U.S. Food and Drug Administration and U.S. Foods approved Allergans Liletta and Medicines360 to prevent pregnancy for up to five years. Initially, it was approved to prevent pregnancy for up to three years.
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