Hormonal Contraceptives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Hormonal Contraceptives Market – Overview
The hormonal contraceptives market has been anticipated to grow at a significant pace throughout the forecast period. The growth prospects in the global market are commonly attributed to numerous factors, for instance, increasing concentration on family planning methods. In addition to this, there has been a crucial requirement to prevent unintended pregnancy. Thus, based on these factors, the global market has been estimated to experience numerous growth avenues in the coming years.
There are various health issues related to teenage pregnancies and growing awareness related to modern contraceptive methods. In addition to this, the increasing use of oral pills in order to prevent unplanned pregnancy is also expected to project expansion opportunities in the global market.
On the flip side, the availability of various other alternative contraceptive methods, lack of social acceptance, and health risks that are associated with the application of contraceptives are certain factors that are expected to restrict the growth prospects in the global market in the near future.
Hormonal Contraceptives Market – Key Drivers
Hormonal contraceptives are the methods used for birth control and act on the human endocrine system. These methods commonly use certain hormones, which are normally produced by women, for instance, progesterone and estrogen. These hormones are helpful to prevent ovulation and thus pregnancy. But these are competent enough to protect against HIV or some other sexually transmitted infections. There are majorly two types of hormonal contraceptives that are available in the global market, named, combination hormonal contraceptive and progestin-only contraceptive. Further, hormonal contraception prevents unwanted pregnancy while acting on the endocrine system. So, on the basis of these functionalities, the hormonal contraceptives market has been projected to grow at a noteworthy speed in the near future.
Synthetic forms of the naturally occurring hormones, for instance, estrogen and progestin are commonly used in order to prevent ovulation and thus prevent fertilization. Further, these birth control forms change the uterus environment and make it unfavorable for fertilization. These are available in the form of rings, injections, pills, and patches and are reliable and safe.
Hormonal Contraceptives Market – Recent Developments and Key Players
The hormonal contraceptives market is moderately fragmented. The market is characterized by the presence of local and international players. These market players are predicted to concentrate on various expansion strategies in order to gain global share, penetrate developing markets, and create brand awareness. Further, the focus of these players is to enhance their services in order to enhance their services for a noteworthy increase in profit and to gain a larger consumer base. Along with this, novel products launch, mergers and acquisitions, agreements or partnerships, and expansion of company networks are some of the other growth driving factors in the global market in the near future.
Some of the key players in the hormonal contraceptives market are:
Hormonal Contraceptives Market – Regional Assessment
The hormonal contraceptives market has been segmented into North America, Europe, Asia Pacific, and LAMEA on the basis of geographical locations. Further, North America is estimated to hold a noteworthy share in the global market throughout the forecast period. The growth avenues in the regional market are commonly attributed to the increased adoption of hormonal contraceptives. In addition to this, a rising number of initiatives from the government bodies in order to create awareness related to birth control is also estimated to bolster the market growth in the near future. Rising disposable income of people leads to increased affordability that further boosts the hormonal contraceptives market growth during the forecast period.
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