DUBLIN--(BUSINESS WIRE)--The "Hormonal Contraceptives Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.
The global hormonal contraceptives market was valued at about $13.36 billion in 2018 and is expected to grow to $15.39 billion at a CAGR of 3.6% through 2022.
The hormonal contraceptives market consists of sale of hormonal contraceptives and related services. Hormonal contraceptives are used as a birth control method that acts on the endocrine system of the human body.
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 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 committed to spend USD$3 billion by 2020 to spread awareness improve family planning in the country. Moreover, in 2015, it was estimated that approximately 64% of married women aged between 15 and 49 used either a modern or traditional method of family planning, an increase from 36% in 1970.
The market for hormonal contraceptive drugs is restrained by the growing use of biologics in place of traditional chemical drugs. Biologics are the 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. 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 with regards to labeling hormonal contraceptives, and are all supervised by regulatory authorities. For instance, in 2018, the US FDA has drafted a new set of guidance and labelling recommendations in the hormonal contraceptives market, and have to be in accordance with the 2006 physician labeling rule (PLR) and the 2014 pregnancy and lactation labeling rule (PLLR).
The main purpose of PLR is to enhance the safety and usage of the particular prescribed drug by providing healthcare providers clear prescription information (PI). The FDA mandates all hormonal contraceptives to mention the effectiveness of the drug from preventing STDs, and any other relevant information regarding 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.
Major players in the market are Bayer AG, Merck & Co. Inc., Pfizer, Allergan and Afaxys Inc.
- Markets Covered: 1) By Product: Oral Contraceptive Pills, Injectable Birth Control, Emergency Contraceptive Pills, Vaginal Rings, Others 2) By End Users: Hospitals, Homecare Settings, Gynaecology Centers, Clinics, Ambulatory surgical centers
- Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
- Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
- Time Series: Five years historic and forecast.
- Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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