According to FutureWise analysis the market for hormonal contraceptive in 2023 is US$ 16.66 billion, and is expected to reach US$ 21.98 billion by 2031 at a CAGR of 3.52%.
Hormonal contraception is a method of birth control that acts on the endocrine system. There are several types of female hormones that are used to prevent ovulation and prevent fertilization. A hormonal contraceptive also causes uterine changes that make it unlikely for a woman to become pregnant. In addition to patches worn on the skin, pills, injections, implants in the arm, and intrauterine devices, hormonal contraceptives are available in a variety of forms. Preventing pregnancy with these hormonal contraceptives is safe and effective. The majority of hormonal contraceptives work by preventing the release of mature eggs from the ovaries, and some also prevent fertilized eggs from implanting. Progestogen-only contraceptives contain only progesterone or one of its synthetic analogs (progestin) and combined contraceptives contain both estrogen and progesterone.
A combined method suppresses ovulation while thickening cervical mucus; whereas a progestogen-only method reduces ovulation frequency primarily by changing cervical mucus. In comparison, older methods of contraception, such as birth control pills, are more popular than newer ones, such as vaginal rings and skin patches. Period pain can also be alleviated by hormonal contraceptives. In addition to mood swings, headaches, and sore breasts, hormonal contraception has the potential to cause nausea, vaginal infection, and blood clots as side effects. During recent years, the global market for hormonal contraceptives has been growing at a brisk pace. In high-population regions, especially, birth control methods have become more popular. In several countries, contraceptives are being encouraged as a means of controlling birth rates and managing the exponential growth of the population. Over the last few years, the medical industry has assisted the government in its efforts to control birth rates. To encourage birth control measures among the population, several procedures have been implemented. Hormonal contraceptives are biological methods of birth control that have helped manage population growth. In recent years, steroidal hormone use has created ripples across the global biological research sector.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Hormonal Contraceptive Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Hormonal Contraceptive Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.