
Report ID: SQMIG35I2363
Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to hormonal contraceptives market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.
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Global Hormonal Contraceptives Market size was valued at USD 17.1 Billion in 2023 and is poised to grow from USD 17.8 Billion in 2024 to USD 25.0 Billion by 2032, growing at a CAGR of 4.3% in the forecast period (2025-2032).
To remain competitive in the Hormonal Contraceptives Market, major manufacturers focus on regulatory compliance, product innovation, and expanding access through partnership. The key payers invest in research & development in order to develop advanced formulations such as long-acting injectables which increase production processes to meet the regulatory standard. Acquisition and mergers also drive the market expansion. With the increasing demand for non-oral options among consumers, various companies are diversifying their product portfolio and enhancing their sustainability efforts. 'AbbVie', 'Bayer', 'Pfizer Inc.', 'Merck & Co., Inc.', 'Teva Pharmaceutical Industries Ltd.', 'Mylan N.V. (Viatris Inc.)', 'Allergan plc', 'Johnson & Johnson', 'Agile Therapeutics', 'Organon Group', 'Afaxys, Inc.', 'HRA Pharma', 'Piramal Enterprises Ltd.', 'Novartis AG', 'GlaxoSmithKline plc', 'Dr. Reddy's Laboratories Ltd.', 'Cupid Limited', 'Lupin Pharmaceuticals, Inc.', 'Theramex', 'Evotec SE', ''
The increase in awareness about family planning, coupled with rising female education levels are one of the key factors for the growth of the market. The Family Planning 2030 (FP2030) aims to enable nearly 120 million women and girls to access modern contraceptive in middle- and low-income countries. As of 2023, nearly 370 million women were using modern contraceptive, with hormonal methods, such as injectables and orals pills, globally.
Short-Term: The rapid digital transformation in contraceptive industry with the launch of various app-based prescription services and telemedicine is making hormonal contraceptive user friendly. The increasing demand for convenience and privacy mostly among millennial and Gen Z, the healthcare providers are adopting digital platforms for prescription management, compliance tracking and improve consultancy. These developments are increasing the adherence rate and user satisfaction.
Why is Asia Pacific Leading Hormonal Contraceptives Market in 2024?
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Report ID: SQMIG35I2363
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