Industry Outlook and Trend Analysis
The Hormonal Contraceptive Market was worth USD 13.24 billion in 2014 and is expected to reach approximately USD 15.60 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 1.84% during the forecast period. Increasing awareness with respect to contraception techniques in rising countries, expanding investments by market players to create inventive devices, and strong government activities to enhance access are key patterns quickening market growth. Awareness programs by governments and market players enable boost the demand, and in this manner, market for contraceptives. The advent of long-acting reversible devices in the market is one of the significant driving variables.
Method Outlook and Trend Analysis
In 2016, contraceptive pills represented the biggest share of the market. It is evaluated to keep up its strength all through the estimate time frame. The development of the portion can be ascribed to simple and straightforward method of organization, easy accessibility of a wide range, high awareness about pills because of early market entry in comparison with long-acting devices, and high productivity of around 99% on convenient consumption.
Regional Outlook and Trend Analysis
North America commanded the worldwide hormonal prophylactic market in 2016. The locale is foreseen to hold its situation all through the gauge time frame. This can be credited to high per capita income, rising awareness about sexual health, strong presence of key market players, and substantial number of unintended pregnancies. Asia Pacific is anticipated to witness the speediest development amid the conjecture time frame. Advent of new female contraception devices, vast fertile population, rise in investment by leading players, and solid financial development are the central point supplementing the development of the area.
The major players in the market are Merck & Co, Pfizer, Bayer, Allergan, Teva Pharmaceutical Industries, Agile Therapeutics, Apothecus Inc. and Afaxys. Commercialization and approval of different products and growing geographical presence are real techniques implemented by industry members to improve their share of the overall industry.
The Hormonal Contraceptive Market is segmented as follows-
Intrauterine Device (IUD)
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?