A report by Transparency Market Research on the global hormonal contraceptives market finds that it is characterized by healthy competition. This is because of the presence of players continuously seeking to outdo one another through agile strategies. For example, they are seen banking upon carefully-considered mergers and acquisitions. They are also seen focusing on technologically advanced products and increasing their geographical footprints. All these are expected to the fuel the global hormonal contraceptives market going forward.
Prominent participants in the global hormonal contraceptives market include Afaxys, Inc., ALLERGAN, Bayer AG, Merck & Co., Inc., Agile Therapeutics, Inc., and Pfizer Inc.
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The TMR report projects the global hormonal contraceptives market to rise at a 5.0% CAGR over the course of the forecast duration from 2018 to 2026.
To examine the global hormonal contraceptives market in-depth, the report classifies it based on different parameters. For example, based on method, it segments the market into transdermal patches, oral contraceptives, intrauterine contraceptives, vaginal rings, and injectable contraceptives. Among them, oral contraceptives segment accounts for a majority share in the market. This is because they are effective and convenient, besides being easily available in the market. With respect to geography, the Asia Pacific hormonal contraceptives market is predicted to outpace all others. This is because of the increasing awareness about birth control and high usage of drugs in developed nations of Australia and Japan.
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Increase in Number of Working Women Stokes Global Hormonal Contraceptives Market
Hormonal contraceptives act on the endocrine system to prevent conception. Our in-house analyst explains, “Hormonal contraception works by regulating the hormonal changes in the menstrual cycle of a female. It does so by using various hormones that are analogue of estrogen and progesterone.” The global hormonal contraceptives market is rising because of the rising number of women stepping out to work and thus delaying pregnancies.
Another factor having a positive impact on the global hormonal contraceptives market is the technological progress in hormonal contraceptive devices. Besides, thrust on population control by governments is also having a positive impact on the global hormonal contraceptives market.
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Alternate Contraception Methods Dampen Sales
Posing a challenge to the market, on the other hand, is the alternate contraception methods and lack of awareness. Apart from that, lack of acceptance in many cultures on contraception is also having a negative impact on the market
Despite such minor hiccups, the global hormonal contraceptives market is expected to rise in the next couple of years mainly because of the demand for oral form of the contraceptives. This is because of their easy availability.
The different types of hormonal contraceptives in the market comprise of combined hormones and progestin only. Between the two, the combined hormones segment is predicted to hold a substantial share in the upcoming years. Their demand is rising because of their fewer side effects and the promising pipeline. Proper network of various distribution channels is also positively impacting sales in the global hormonal contraceptives market.
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