Hormonal Contraceptives Global Market Report 2022– Market Size, Trends, And Global Forecast 2022-2026

The Business Research Company’s Hormonal Contraceptives Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026

LONDON, GREATER LONDON, UK, March 16, 2022 /EINPresswire.com/ -- Increased awareness about the benefits and use of contraceptives is a major factor driving the global hormonal contraceptives market. According to the World Health Organization (WHO), 16 million girls worldwide aged 15-19 give birth every year which accounts to approximately 11% of all births globally. In order to prevent these unplanned births global awareness programs such as Its your life, its your future by the WHO and world contraception day were initiated. The London Summit on Family Planning urged governments, international agencies, and other private sector to commit to improving access to voluntary family planning. This gave rise to the global partnership, Family Planning 2020 (FP2020). FP2020 has created a 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 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 considered to have a need for family planning.

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The global hormonal contraceptives market size is expected to grow from $12.85 billion in 2021 to $13.37 billion in 2022 at a compound annual growth rate (CAGR) of 4.0%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global hormonal contraceptive market size is expected to reach $14.75 billion in 2026 at a CAGR of 2.5%.

Companies are innovating to manufacture chewable low dose oral contraceptives that reduce side effects and positively influence the hormonal contraceptives industry growth. 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 shaping the hormonal contraceptives industry outlook. Some of the top companies that produce and sell chewable low-dose oral contraceptives, for instance, are Lupin pharmaceuticals, Walter Chilcott and Watson pharmaceuticals.

Major players covered in the global hormonal contraceptives industry are Bayer AG, Merck & Co. Inc., Pfizer, Allergan, Afaxys Inc., Teva Pharma Industries Ltd., Agile Therapeutics, HLL Lifecare Limited, Lupin Pharmaceuticals Inc. and Piramal Healthcare Limited.

TBRC’s global hormonal contraceptives market report is segmented by product into oral contraceptive pills, injectable birth control, emergency contraceptive pills, vaginal rings, others, by end-user into hospitals, homecare settings, gynecology centers, clinics, ambulatory surgical centers, by hormone into progestin-only, combined hormones, by distribution channel into drug stores, gynecology/ fertility clinics, e-commerce, others.

Hormonal Contraceptives Global Market Report 2022 – By Product (Oral Contraceptive Pills, Injectable Birth Control, Emergency Contraceptive Pills, Vaginal Rings), By End Users (Hospitals, Homecare Settings, Gynecology Centers, Clinics, Ambulatory surgical centers), By Hormones (Progestin-Only, Combined Hormones), By Distribution Channel (Drug Stores, Gynecology/ Fertility Clinics, E-Commerce) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a hormonal contraceptives market overview, hormonal contraceptives market forecast, hormonal contraceptives market size and hormonal contraceptives market growth for the whole market, hormonal contraceptives market segments, hormonal contraceptives market geographies, hormonal contraceptives market trends, hormonal contraceptives market drivers, hormonal contraceptives market restraints, leading competitors’ revenues, profiles, and market shares.

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