Hormonal Contraceptives Global Market Report 2023

NEW YORK, Feb. 20, 2023 /PRNewswire/ -- Major players in the hormonal contraceptives market are Bayer AG, Merck & Co. Inc., Pfizer, Allergan, Afaxys Inc., TevaPharma Industries Ltd., Agile Therapeutics, HLL Lifecare Limited, Lupin Pharmaceuticals Inc. and Piramal Healthcare Limited.

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The global hormonal contraceptives market will grow from $13.47 billion in 2022 to $13.78 billion in 2023 at a compound annual growth rate (CAGR) of 2.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The hormonal contraceptives market is expected to grow to $14.56 billion in 2027 at a CAGR of 1.4%.

The hormonal contraceptive market includes revenues earned by entities by blocking the release of eggs from the ovaries and thinning the lining of the uterus to prevent pregnancy.The market value includes the value of related goods sold by the service provider or included within the service offering.

Only goods and services traded between entities or sold to end consumers are included.

Hormonal contraceptive refers to a method of birth control that stops pregnancy using hormones.There are numerous types.

Some can be undone, while others are irreversible. Some varieties can also aid in the prevention of STDs.

North America is the largest region in the hormonal contraceptives market in 2022.Middle East is expected to be the fastest growing region in the forecast period.

The regions covered in the hormonal contraceptives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of products in oral contraceptive pills are injectable birth control, emergency contraceptive pills, vaginal rings, and others.Any class of synthetic steroid hormones which inhibit the release of follicle-stimulating hormone (FSH) and luteinizing hormone (LH) from the anterior lobe of the pituitary gland in the female body is known as oral contraceptive pills or birth control pills.

The different hormones include progestin-only, and combined hormones and are used by hospitals, homecare settings, gynecologycenters, clinics, and ambulatory surgical centers. It is distributed through various channels such as drug stores, gynecology or fertility clinics, e-commerce, and others.

Increased awareness about the benefits and use of contraceptives is a major factor driving the hormonal contraceptives market.According to the World Health Organization (WHO), 16 million girls worldwide aged 15-19 give birth every year which accounts for approximately 11% of all births globally.

To prevent these unplanned births global awareness programs such as It's your life, it's your future by the WHO and world contraception day was initiated.The London Summit on Family Planning urged governments, international agencies, and another private sectors to commit to improving access to voluntary family planning.

This gave rise to the global partnership, Family Planning 2020 (FP2020).FP2020 has created momentum worldwide on issues such as access to contraceptives, more innovation, and greater accountability in family planning efforts.

For example, India will have spent USD$3 billion by 2020 to spread awareness and improve family planning in the country. Moreover, in 2020, according to the United Nations Department of Economic and Social Affairs, about 1.1 billion women aged between 15 and 49 are considered to need family planning.

The market for hormonal contraceptive drugs is restrained by the growing use of biologics in place of traditional chemical drugs.Biologics are medicines containing one or more substances derived from a biological source like micro-organisms, animal cells, or human cells.

The ability to interact with specific targets puts these medicines above any other drugs, thus hampering the market of chemical-hormonal contraceptive drugs.

Companies are innovating to manufacture chewable low-dose oral contraceptives that reduce side effects.The chewable contraceptive initiative was an attempt to reduce side effects while at the same time making it easier for the patients to get into a daily regimen of using this contraceptive.

The pill is already being sold as an over-the-counter product. Some of the top companies that produce and sell chewable low-dose oral contraceptives, for instance, are Lupin pharmaceuticals, Walter Chilcott, and Watson pharmaceuticals.

Manufacturers in the hormonal contraceptives market should abide by many strict regulations about labeling hormonal contraceptives, and are all supervised by regulatory authorities.For instance, the US FDA has drafted a new set of guidance and labeling recommendations in the hormonal contraceptives market.

The main purpose of PLR is to enhance the safety and usage of the particular prescribed drug by providing healthcare providers with clear prescription information (PI).The FDA mandates all hormonal contraceptives to mention the effectiveness of the drug in preventing STDs and any other relevant information regarding the effectiveness of the drug.

The FDA considers that communicating information regarding pregnancy rates to the users of these contraceptive drugs is essential for safety and effective usage.

The countries covered in the hormonal contraceptives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.It does not include revenues from resales either further along the supply chain or as part of other products.

The hormonal contraceptives market research report is one of a series of new reports that provides hormonal contraceptives market statistics, including hormonal contraceptives industry global market size, regional shares, competitors with a hormonal contraceptives market share, detailed hormonal contraceptives market segments, market trends and opportunities, and any further data you may need to thrive in the hormonal contraceptives industry. This hormonal contraceptive market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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