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The hormonal contraceptive market is expected to reach USD 19.37 billion by 2025, growing at a CAGR of 6.9% during the forecast period.

DOUGLAS, ISLE OF MAN, January 13, 2023 /EINPresswire.com/ -- Hormonal Contraceptive Market Value and CAGR

The hormonal contraceptive market is expected to reach USD 19.37 billion by 2025, growing at a CAGR of 6.9% during the forecast period. Factors driving the growth of the hormonal contraceptive market include increasing awareness about contraception and increase in incidences of various reproductive health issues.

The demand for hormonal preventives is driven by the rising demand for innovative product launches. Growing awareness about reproductive and sexual health in the emerging market drives industry growth. In addition, with the increasing government initiatives and programs, more and more women are using preventives in developed and developing countries.

The hormonal contraceptive market is classified as a combined hormonal contraceptive and progestin-only contraceptives. The combined contraceptives segment currently leads the market and is expected to continue its dominance over the forecast period. The segment shows significant growth owing to the superior preventive efficacy and wide availability of combined hormonal preventives.

Hormonal Contraceptive Market Growth Drivers and Risks

The wide range of products available in the hormonal contraceptive market makes it suitable for various users. Additionally, increased use of long-acting reversible contraceptives (LARCs), such as intrauterine devices (IUDs) and implants, is also contributing to the growth of the hormonal contraceptive market.

The growth is mainly attributed to the increasing awareness about contraception and the use of contraceptives among women. However, the market faces several risks such as the increase in unwanted pregnancies and side effects from hormonal contraception.

Hormonal Contraceptive Market Keyplayers

The company offers hormonal contraceptive products under several brand names, such as Loestrin FE, Yaz, Yasmin and Twist. Bayer also manufactures generic versions of these drugs. In 2016, the company generated sales of USD 9.4 billion from its core businesses across all regions. The hormonal contraceptive drugs segment accounted for around 55% of total sales in 2016.

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Hormonal Contraceptive Market Segmentations

By Product:
• Pills
• Injectable Birth Control
. Vaginal Rings
• By End User:
• Hospitals
• Homecare Settings
• Gynecology Centers
• Clinics
• Ambulatory Surgical Centers
By Hormones:
• Progestin-Only
• Combined Hormones

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